secwatch.observer — SEC 8-K summary
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Issuer:     California Resources Corp (CRC)
CIK:        0001609253
Form:       8-K
Filed at:   2024-11-25T23:59:59+00:00
Accession:  0001609253-24-000125
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

California Resources names Clio Crespy as CFO effective Jan 1, 2025; Nelly Molina departs
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- Appoints Clio Crespy EVP & CFO effective Jan 1, 2025; succeeds Nelly Molina who departs Dec 31, 2024.
- Crespy receives $615K base salary, 100% target bonus, 400% LTI target, and $1.35M initial RSU grant.
- Crespy most recently Senior MD at Guggenheim Securities, advising on energy and sustainability.
- Molina's departure not due to any disagreement with CRC on internal controls or financial statements.
- Employment agreement includes 2-year initial term, severance multiplier of 1.5x (2x upon change in control).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1609253/000160925324000125/0001609253-24-000125-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1609253/000160925324000125/crc-20241119.htm
  HTML page:      https://secwatch.observer/filing/0001609253-24-000125

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