Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 30

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 30
---
 service as a director. The following table describes the components of the non-employee director compensation program for the 2024 - 2025 term:

| Compensation Element                           |   | Term Amount                            |
|:-----------------------------------------------|:--|:---------------------------------------|
| Annual Cash Retainer                           | $ | 125,000 for non-employee directors     |
|                                                | $ | 155,000 for Chairman of the Board      |
| Annual Equity Award                            | $ | 225,000 for non-employee directors     |
|                                                | $ | 275,000 for Vice Chairman of the Board |
|                                                | $ | 405,000 for Chairman of the Board      |
| Board or Committee Meeting Fees                |   | None                                   |
| Committee Chair Additional Annual Equity Award | $ | 25,000 for each committee chaired      |

Annual Equity Award The Board believes that director and shareholder interests should be aligned over the long term. In furtherance of this objective, the majority of non-employee director compensation is equity-based compensation. Directors may elect to receive their annual equity award in shares of common stock or in deferred common stock units. Common Stock Award. Pursuant to the terms of the award, the director receives shares of common stock that are fully vested at grant but subject to transfer restrictions. 50% of the shares may not be sold or transferred until the earlier of the third anniversary of the grant date or the date of the director’s separation from service, and the remaining 50% may not be sold or transferred until the date of the director’s separation from service; provided, however, that all of the shares become transferable in the event of certain change in control events. Deferred Stock Unit Award. Pursuant to the terms of the award, the director receives deferred stock units that are fully vested at grant but subject to deferred settlement. Each deferred stock unit is equivalent to one share of common stock and payable in shares of common stock upon the satisfaction of the deferral period. 50% of the deferred stock units are payable upon the earlier of the third anniversary of the grant date or the date of the director’s separation from service, and the remaining 50% are payable on the date of the director’s separation from service; provided, however, that all of the deferred stock units are payable in the event of certain change in control events. All Other Compensation Directors are eligible to participate in the Occidental Petroleum Corporation Matching Gift Program, which matches contributions made by employees and directors to certain qualified, eligible charitable organizations.