CEPAK TIFFANY THOM reported acquisition or exercise transactions in this Form 4 filing.
California Resources Corp reported that director Tiffany Thom Cepak received a grant of 5,023 shares of Common Stock in the form of restricted stock units (RSUs) at a price of $0.0000 per share, reflecting equity compensation rather than a market purchase. Following this award, she holds 86,325 shares directly. Each RSU represents a right to one share of Common Stock and will vest on April 30, 2027. Subject to certain exceptions, the RSUs will be settled in shares three months and one day after her separation from service, tying the ultimate delivery of stock to the end of her board tenure.
Bremner Andrew B. reported acquisition or exercise transactions in this Form 4 filing.
California Resources Corp director Andrew B. Bremner received an equity award in the form of restricted stock units. On April 30, he was granted 3,091 RSUs, each representing the right to receive one share of common stock at no cash cost.
The RSUs will vest on April 30, 2027 and, subject to specified exceptions, will be settled in shares of common stock three months and one day after his separation from service. After this grant, Bremner directly holds 30,982 shares of California Resources common stock.
California Resources Corp reported a 5.94% beneficial ownership stake held by Vanguard Portfolio Management as of 03/31/2026. The filing lists 5,275,431 shares beneficially owned, with 28,176 shares of sole voting power and 5,275,431 shares of sole dispositive power. The filing explains this ownership aggregates holdings across Vanguard Portfolio Management LLC and specified Vanguard affiliates.
California Resources Corporation entered into a Ninth Amendment to its Amended and Restated Credit Agreement effective April 14, 2026. The amendment, with Citibank, N.A. as administrative and collateral agent and a syndicate of lenders, updates the pricing grid to reduce the company’s borrowing costs under the existing credit facility and makes other technical changes. The full terms are contained in the Ninth Amendment, filed as Exhibit 10.1.
CRC submitted a Rule 144 notice reporting restricted stock vesting and related sales by an affiliate. The filing lists a 78-share restricted stock vesting on 03/13/2026 and a sale of 8,564 shares reported with a consideration figure of 545,589.86 on 03/05/2026.
California Resources Corp ownership disclosure: The Vanguard Group filed an amended Schedule 13G stating that, after an internal realignment, certain Vanguard subsidiaries will report beneficial ownership separately and The Vanguard Group holds 0 shares of common stock, representing 0%. The filing cites the internal realignment effective January 12, 2026 and is signed on 03/26/2026.
California Resources Corporation completed an upsized private offering of an additional $350 million of 7.000% senior unsecured notes due 2034. These new notes are issued under the existing indenture and form a single series with the previously issued $400 million 7.000% senior notes due 2034.
The company intends to use the net proceeds, together with cash on hand and/or borrowings under its revolving credit facility, to redeem $350 million of its 8.250% senior unsecured notes due 2029 at 100% of principal plus the applicable premium and accrued interest. The redemption is expected to close on March 24, 2026, effectively refinancing higher-coupon debt with longer-dated 7.000% notes.
The notes are senior unsecured obligations guaranteed on a senior unsecured basis by existing subsidiary guarantors and certain future subsidiaries. They carry semi-annual interest payments each January 15 and July 15, include optional redemption features, and require a repurchase offer at 101% if specified change of control trigger events occur.
California Resources Corp executive Michael S. Helm, VP Finance & Controller, filed an initial ownership report showing 21,652 shares of common stock held directly. This total includes restricted stock units (RSUs): 4,956 RSUs vesting on March 1, 2027; 2,712 RSUs vesting on March 1, 2028; and 2,804 RSUs vesting in three equal installments on March 2, 2027, 2028 and 2029. Each RSU converts into one share of common stock upon vesting.
California Resources Corporation is asking shareholders to vote at its 2026 virtual annual meeting on April 30, 2026, on three items: electing nine directors for one-year terms, ratifying KPMG LLP as auditor for 2026, and approving executive pay on an advisory basis.
The company highlights 2025 results, including record free cash flow of $543 million and returning $513 million to shareholders via dividends and buybacks, and nearly $1.6 billion since mid-2021. CRC completed its merger with Berry Corporation in December 2025, targeting $80–90 million of annual synergies. The Board emphasizes strong governance, with eight of nine directors expected to be independent and fully independent committees, plus majority voting and an anti-hedging policy.
Executive compensation is heavily performance-based, with 60% of long-term incentives in performance stock and 40% time-vested, using total shareholder return metrics. For 2026, 20% of management’s annual incentive tied to company performance will be linked to sustainability goals, reinforcing CRC’s focus on safety, environmental stewardship and its Carbon TerraVault decarbonization platform.