California Resources Corp insider filing shows an entity associated with the Canada Pension Plan Investment Board completed an open-market sale of 3,500,000 shares of common stock at $61.10 per share on March 12, 2026.
After this transaction, the filing reports that entities affiliated with the Canada Pension Plan Investment Board continue to indirectly hold 7,006,895 shares of California Resources common stock through CPP Investment Board Private Holdings (6), Inc.
Canada Pension Plan Investment Board filed an amended Schedule 13D updating its ownership in California Resources Corporation following a large secondary sale. The filing shows the reporting persons now beneficially own 7,006,895 shares of common stock, representing 7.9% of the outstanding shares as of January 31, 2026.
These shares are held of record by CPP Investment Board Private Holdings (6), Inc., which is wholly owned by CPP Investment Board Private Holdings (5), Inc., itself wholly owned by CPPIB. On March 12, 2026, the group sold 3,500,000 shares in a block trade at $61.10 per share, reducing but not exiting its position.
California Resources Corporation appointed Michael Helm as Vice President – Finance and Controller and designated him as its principal accounting officer effective March 16, 2026. Helm previously led Berry Corporation’s accounting function as Chief Accounting Officer and later served as its Chief Financial Officer, and earlier held senior accounting roles at CRC and other companies.
Senior Vice President and Controller Noelle Repetti is retiring effective March 16, 2026, after more than 11 years with the company. Her departure is stated not to result from any dispute or disagreement regarding operations, financial statements, internal controls, policies, or practices. CRC will enter into an Indemnification Agreement with Helm consistent with its existing form for directors and executive officers.
California Resources Corp executive Christopher D. Gould reported an open-market sale of company stock. On this Form 4, the EVP & Chief Sustainability Officer sold 24,347 shares of California Resources common stock on March 11, 2026 at a weighted average price of $62.2125 per share. After this transaction, he directly holds 131,537 common shares. The filing notes the shares were sold in multiple trades at prices ranging from $61.93 to $62.54, with full trade-level detail available upon request.
California Resources Corporation is raising new debt through an upsized private offering of $350 million aggregate principal amount of 7.000% senior unsecured notes due 2034, priced at 100.500% of par. These additional notes will form a single series with $400 million of existing 7.000% notes under the same indenture.
The notes mature on January 15, 2034 and pay 7.000% interest semi-annually starting July 15, 2026. CRC intends to use the net proceeds, along with cash on hand 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, with the redemption expected to be conditioned on completion of this new offering.
CRC reported Form 144 selling notice. The filing lists restricted stock expected to vest and be sold, with specific grant vesting dates and share counts: 6,242 shares vesting 02/23/2024, 3,315 shares vesting 02/22/2026, 11,057 shares vesting 02/23/2026, and 3,733 shares vesting 02/25/2026. The broker listed is Fidelity Brokerage Services LLC. The filing is dated 03/11/2026.
California Resources Corporation plans a private offering of $250 million of 7.000% senior unsecured notes due 2034. The company expects to use the net proceeds, along with cash and/or revolver borrowings, to redeem $250 million of 8.250% senior unsecured notes due 2029, at 100% of principal plus the applicable premium and accrued interest. The redemption is expected to be conditioned on completing the new notes offering, while the offering itself is not contingent on redemption. Exhibit data show 2025 pro forma adjusted EBITDAX of $1,453 million, free cash flow of $545 million, and pro forma average daily net production of 161 MBoe/d. As of March 6, 2026, the company had $2 million in cash and cash equivalents and $42 million drawn under its revolving credit facility.
California Resources Corp executive Omar Hayat, EVP & Chief Operating Officer, sold 23,000 shares of common stock in an open-market transaction. The weighted average sale price was $65.8686 per share, across multiple trades between $65.345 and $65.965. Following this sale, Hayat directly holds 82,236 shares of California Resources common stock.
California Resources Corp director Mark Allen McFarland reported an open-market sale of company stock. On March 6, 2026, he sold 16,372 shares of common stock at a weighted average price of $64.8302 per share, in multiple trades priced between $64.5706 and $65.43. After this transaction, he directly owned 76,265 shares of California Resources common stock.