Bys Jay A. reported acquisition or exercise transactions in this Form 4 filing.
California Resources Corp reported that EVP & Chief Commercial Officer Jay A. Bys received an award of 15,957 shares of Common Stock in the form of restricted stock units. The RSUs vest in three equal annual installments on March 2 of 2027, 2028 and 2029. Following this grant, his directly owned Common Stock holdings total 183,238 shares.
California Resources Corporation outlines a transformed 2025, driven by the all-stock Berry merger and growth in both oil and gas and carbon management. The deal added 56 MMBoe of proved developed reserves and 93 MMBoe of total proved reserves, plus C&J Well Services and Utah acreage.
The company ended 2025 with 654 MMBoe of proved reserves and average production of 138 MBoe/d, generating $363 million of net income and $865 million of operating cash. Liquidity was $1,401 million against $1,300 million of long-term debt, and PV‑10 was $8,717 million.
CRC emphasizes cost synergies of $80–$90 million annually from the Berry integration, disciplined capital spending, and a growing CCS platform via its Carbon TerraVault JV. It has also adopted a “Responsible Net Zero” goal targeting at least an 80% cut in Scope 1 and 2 emissions by 2045.
California Resources Corporation reported strong fourth quarter and full-year 2025 results and issued 2026 guidance. For 2025, total operating revenues were $3,669 million versus $3,198 million in 2024, with net income of $363 million and adjusted net income of $359 million. Adjusted EBITDAX reached $1,241 million, and free cash flow was $543 million, the highest since 2021.
Average 2025 net production rose 25% year over year to 138 MBoe/d, while proved reserves increased to 654 MMBoe and proved undeveloped reserves grew 190%. The company returned $513 million to shareholders through $377 million of share repurchases and $136 million of dividends, and raised its annual dividend by 5% to $1.62 per share.
For 2026, California Resources targets about 12% production growth to 152–157 MBoe/d (81% oil), capital investments of $430–$470 million, and adjusted EBITDAX of $970–$1,070 million. Management also expects $80–$90 million of Berry merger synergies and plans first CO₂ injection at its Elk Hills CCS project in spring 2026, subject to commissioning and regulatory approval.
California Resources Corp Senior VP and Controller Noelle M. Repetti reported a Form 4 transaction involving company common stock. On February 25, 2026, she surrendered 764 restricted stock units to cover tax withholding for RSUs that vested that day, a non‑market, tax-related disposition. Following this transaction, she directly owned 12,610 shares of California Resources common stock.
California Resources Corp executive Michael L. Preston reported a tax-related share disposition. On February 25, 2026, he surrendered 4,074 shares of common stock at $58.12 per share to satisfy tax withholding on restricted stock units that vested that day. After this transaction, he directly held 111,457 shares of common stock.
California Resources Corp President and CEO Leon Francisco reported a tax-related share transaction. He surrendered 9,317 shares of common stock at $58.12 per share to cover withholding taxes on restricted stock units that vested on February 25, 2026. Following this tax-withholding disposition, he holds 293,115 shares of common stock directly.
California Resources Corp executive Omar Hayat, EVP & Chief Operating Officer, reported a Form 4 showing a tax-related share disposition. On February 25, 2026, 3,471 shares of common stock were surrendered at $58.12 per share to cover tax withholding for vested RSUs. After this non‑open‑market transaction, Hayat directly held 88,909 common shares.
California Resources Corp executive reports tax-related share disposition
California Resources Corp EVP & Chief Sustainability Officer Christopher D. Gould reported a Form 4 transaction involving company common stock. On February 25, 2026, 3,147 shares were disposed of at an indicated price of $58.12 per share to satisfy tax withholding on restricted stock units that vested that day.
According to the filing, this was a tax-withholding disposition of RSUs surrendered to cover taxes, not an open-market sale. After this transaction, Gould directly held 138,422 shares of California Resources Corp common stock.
California Resources Corp executive Clio C. Crespy reported a tax-related share disposition. On February 25, 2026, the EVP and CFO surrendered 3,404 shares of common stock at $58.12 per share to satisfy tax withholding on restricted stock units that vested that day, leaving 81,039 shares owned directly.
California Resources Corp executive Jay A. Bys reported a tax-related share disposition. On February 25, 2026, 2,809 shares of common stock were surrendered at $58.12 per share to cover tax withholding on restricted stock units that vested that day. After this tax-withholding disposition, he held 167,281 shares of common stock directly.