CRC California Resources Corp

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q1 2026: $101M, Q3 2025: $42M, Q2 2025: $35M, Q1 2025: $58M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $101M vs trailing avg $45M (+124%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-635M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 10,054,099 shares = 11.3% of 88,754,165 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

2 open-market purchases by 2 insiders

• Roby William B () bought 467 shares at $47.62 on 2025-11-12
• Leon Francisco (President and CEO) bought 5,425 shares at $47.71 on 2025-11-12

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 4 quarters and 2 insider purchases by 2 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $218M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 777.4x more than bought. 2 C-suite officers among sellers

• Gould Christopher D. (EVP & Chief Sustainability Off) sold 24,347 shares on 2026-03-11
• Hayat Omar (EVP & Chief Operating Officer) sold 23,000 shares on 2026-03-09