CRC to repurchase 4.95M shares from IKAV for $227.7M; director Saadati to resign

California Resources Corp

Bobby Saadati will resign from CRC board upon closing of $227.7M share repurchase from IKAV.
CRC repurchases 4,950,000 shares at $46.00 each from IKAV, settlement expected June 25, 2025.
Repurchase funded with cash on hand and operating cash flows; part of $1.35B buyback program.
IKAV's director nomination right ends as holding drops below 5%; lock-up restrictions on IKAV cease.

item 5.02item 8.01

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Departed

Bobby Saadati

Director

CRC · California Resources Corp

Filed: Jun 23, 2025 23:59 UTC

Mr. Saadati will resign from the Company’s Board of Directors (the “ Board ”), effective upon consummation of the Stock Repurchase.

Source: SEC EDGAR

accession 0001609253-25-000059

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