secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001609253-23-000034
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 5.03, 5.07, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CRC appoints Nelly Molina as EVP & CFO effective May 8, replacing Francisco Leon who became CEO
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- Molina joins from Sempra Energy, previously CFO of IEnova and VP Audit Services/IR at Sempra.
- Employment agreement: $550K base salary, 100% target bonus, $150K sign-on bonus, LTIP target 400% of base.
- Shareholders approved Certificate of Incorporation amendment permitting officer exculpation for duty of care claims.
- All nine director nominees elected; KPMG, say-on-pay, and officer exculpation proposals approved.
- Prior CFO Francisco Leon became President and CEO on April 28, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925323000034/0001609253-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925323000034/crc-20230428.htm
  HTML page:      https://secwatch.observer/filing/0001609253-23-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer