Preston Michael L. 4

What Happened
Michael L. Preston, Executive Vice President, Chief Strategy Officer and General Counsel of California Resources Corp (CRC), had 4,074 shares disposed on February 25, 2026 at $58.12 per share, totaling $236,781. The disposition reflects RSUs surrendered to satisfy tax withholding obligations for RSUs that vested the same day (not an open-market sale).

Key Details

• Transaction date: 2026-02-25
• Price per share: $58.12; Total value: $236,781
• Transaction code: F (payment of tax liability/tax withholding through share surrender)
• Footnote: F1 — RSUs were surrendered to satisfy tax withholding for RSUs that vested on Feb 25, 2026
• Shares owned after the transaction: not specified in the provided filing
• Filing timeliness: Reported on 2026-02-27 (filed within the typical two-business-day Form 4 window)

Context
This was a routine tax-withholding disposition tied to vested restricted stock units (RSUs). Such surrender of shares to cover taxes is common and differs from an open-market sale or a buy/sell decision; it typically reflects vesting and tax obligations rather than a directional bet on the stock. Transaction code F denotes the shares were used to satisfy tax withholding.