Leon Francisco 4

What Happened
Leon Francisco, President & CEO and a director of California Resources Corp (CRC), was granted 43,833 restricted stock units (RSUs) on March 2, 2026. The Form 4 reports the acquisition price as $0.00 (award). Each RSU represents a contingent right to receive one share of common stock upon vesting.

Key Details

• Transaction date: 2026-03-02; filing date: 2026-03-03 (timely filing).
• Awarded: 43,833 RSUs at $0.00 per unit (reported acquisition value $0).
• Vesting: RSUs vest in three equal annual installments on March 2 of 2027, 2028 and 2029 (per filing footnote).
• Shares owned after transaction: not specified in the provided filing excerpt.
• No tax-withholding, sale, or 10b5-1 plan noted in the provided information.

Context
RSUs are a form of equity compensation that convert into actual shares only when they vest; they are not an immediate open‑market purchase or sale. Grants like this are common for executive compensation and do not by themselves indicate immediate buying or selling activity.