California Resources Corp — Director's Dealing 2018

Mar 2, 2018

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: California Resources Corp (CRC)
CIK: 0001609253
Period of Report: 2018-02-22

Reporting Person: Leon Francisco (EVP Corp Dev & Strategic Plng)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	24781	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Unit	$		Common Stock (16358.0)		Direct
Employee Stock Option (right to buy)	$20.17	2025-02-20	Common Stock (7486.0)		Direct
2015 Stock Option	$42.0	2022-08-04	Common Stock (4334.0)		Direct
2014 Stock Option	$81.1	2021-11-30	Common Stock (3536.0)		Direct

Footnotes

F1: The amount reported includes the following pursuant to the California Resources Corporation (CRC) Long-Term Incentive Plan (LTIP): (1) 775 Restricted Stock Units (RSUs) granted on August 15, 2015 which will vest on August 4, 2018, (2) 5,833 RSUs granted on May 27, 2016 which will vest 1/2 each on May 26, 2018 and 2019, (3) 7,088 RSUs granted on February 13, 2017 which will vest 1/2 each on February 12, 2019 and 2020, and (4) 3,896 RSUs granted on August 1, 2017 which will vest on July 30, 2020.

F2: The amount reported consists of RSUs granted on February 21, 2018 which will vest 1/3 each on February 20, 2019, 2020, and 2021, and will be settled 60% in shares of CRC common stock and 40% in cash, pursuant to CRC's LTIP.

F3: The Stock Options will vest in three equal installments beginning February 20, 2019, 2020 and 2021.

F4: The Stock Options became exercisable as to 1,444 shares on August 4, 2016, and 1,445 shares on August 4, 2017, and becomes exercisable as to the remaining 1,445 shares on August 4, 2018.

F5: The Stock Options became exercisable as to 1,178 shares on November 30, 2015, and 1,179 shares each on November 30, 2016 and November 30, 2017.