SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Repetti Noelle M.

(Last)

(First)

(Middle)

9200 OAKDALE AVENUE

SUITE 900

(Street)

LOS ANGELES

91311

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/31/2017

3. Issuer Name and Ticker or Trading Symbol
California Resources Corp [ CRC ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President and Controller

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	26,794⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
2014 Stock Option	⁽²⁾	11/30/2021	Common Stock	7,576	$81.1	D
2015 Stock Option	⁽³⁾	08/04/2022	Common Stock	3,667	$42	D

Explanation of Responses:

1. The amount reported consists of 2,537 shares of common stock and, pursuant to the California Resources Corporation Long-Term Incentive Plan, the following: (1) a Restricted Stock Incentive Award of 3,197 shares of common stock granted on December 1, 2014 which will vest on November 30, 2017, (2) 656 Restricted Stock Units (RSUs) granted on August 15, 2015 which will vest on August 4, 2018, (3) 4,375 RSUs granted on May 27, 2016 which will vest 1/2 each on May 26, 2018 and 2019, (4) 7,975 RSUs granted on February 13, 2017 which will vest 1/3 each on February 12, 2018, 2019 and 2020, and (5) 8,054 RSUs granted on August 1, 2017 which will vest on July 30, 2020.

2. The stock option became exercisable as to 2,525 shares each on August 30, 2015 and August 30, 2016, and becomes exercisable as to the remaining 2,526 shares on November 30, 2017.

3. The stock option became exercisable as to 1,222 shares each on August 4, 2016 and August 4, 2017, and becomes exercisable as to the remaining 1,223 shares on August 4, 2018.

Remarks:

	/s/ Ulrik Damborg, Attorney-in-Fact for Noelle M. Repetti	09/07/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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