{"schema_version":"secwatch.filing_event.v1","accession":"0001609253-25-000059","form_type":"8-K","ticker":"CRC","cik":"0001609253","company_name":"California Resources Corp","filed_at":"2025-06-23T23:59:59+00:00","discovered_at":"2026-05-14T18:02:49.006120+00:00","generated_at":"2026-05-18T23:43:20.675949+00:00","sec_items":["5.02","8.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"CRC to repurchase 4.95M shares from IKAV for $227.7M; director Saadati to resign","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001609253-25-000059","json":"https://secwatch.observer/filing/0001609253-25-000059.json","markdown":"https://secwatch.observer/filing/0001609253-25-000059.md","text":"https://secwatch.observer/filing/0001609253-25-000059.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1609253/000160925325000059/0001609253-25-000059-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1609253/000160925325000059/crc-20250623.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T23:43:20.675949+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"00f7a1644a","claim":"Bobby Saadati departed as Director at California Resources Corp.","evidence_excerpt":"Mr. Saadati will resign from the Company’s Board of Directors (the “ Board ”), effective upon consummation of the Stock Repurchase.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1609253/000160925325000059/0001609253-25-000059-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resign"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}