On June 23, 2025, California Resources Corp announced a stock repurchase of 4,950,000 shares at $46 each for a total of $227.7 million, resulting in the resignation of Mr. Bobby Saadati from the Board of Directors due to a stockholder agreement. This repurchase is part of its $1.35 billion Share Repurchase Program and will be settled on June 25, 2025.