California Resources EVP Buys 13,113 Shares While Sells 9,033 RSU Shares, Signaling Tactical Rebalancing and Confidence in Clean‑Energy Strategy

Insider Activity Spotlight: California Resources Corp.

The latest Form 4 filing reveals that EVP and Chief Commercial Officer Jay Bys has completed a buy of 13,113 shares on February 23, 2026, and a simultaneous sell of 9,033 shares in tax‑withholding‑surrendered RSUs and PSUs. The net effect of the day is a modest increase in his holding—from 170,090 to 179,123 shares—at a market price of $58.28, the same level that closed the day. This transaction comes on the heels of a February 22 sale of 2,625 shares for $59.22, suggesting a pattern of tactical rebalancing rather than a large‑scale divestment.

What Does This Mean for Investors? Bys’s recent activity aligns with a broader insider‑transaction rhythm that balances liquidity needs and long‑term commitment. His 2025 purchase of 26,472 shares at $0.00 (a vesting‑trigger buy) followed by the February 2026 sales indicates that he is actively managing his equity exposure while staying fully vested. For the company, such consistent buying can be interpreted as a vote of confidence in the firm’s decarbonisation strategy and its projected earnings in a high‑growth clean‑energy niche. The fact that the share price has edged up 1.15% that day, close to its 12.36% yearly gain, may reassure shareholders that insider actions are not materially distorting the market.

A Look at Bys Jay A.’s Trading Pattern Across the past 18 months, Bys has executed a mix of 26,472‑share purchases (2025‑Nov‑04) and 2,625‑share sales (2026‑Feb‑22 and 2026‑Feb‑23). His most recent buy in February 2026 was a performance‑stock‑unit vesting exercise, which signals that his compensation is heavily tied to the company’s long‑term performance. The simultaneous surrender of tax‑withholding shares indicates a disciplined approach to tax optimization, a hallmark of seasoned executives. Historically, Bys has maintained a stable stake, with his holdings hovering between 166,000 and 179,000 shares—a relatively small fraction of the 8.3 billion‑share outstanding base—yet large enough to influence corporate governance.

Insider Activity in Context California Resources’ insider ecosystem is active, with five other executives each completing two transactions in February 2026. The pattern—bought at $0.00 for vesting, sold at $58.15 for tax or liquidity—suggests a systematic approach to equity management rather than opportunistic trading. This disciplined behavior dovetails with the company’s mission to capitalize on carbon‑capture and storage opportunities, a sector that is attracting regulatory support and capital flows.

Bottom Line for Stakeholders For investors, Bys’s recent transactions reaffirm a long‑term belief in California Resources’ clean‑energy strategy without creating immediate market disruption. The company’s fundamentals—strong market cap, respectable P/E, and a focus on emissions‑reducing projects—are supported by insider confidence. As California Resources continues to position itself at the intersection of oil, gas, and decarbonisation, insider activity that reflects both operational and financial prudence is likely to be viewed as a stabilising factor in a volatile energy market.