Company: OXY-WT
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0000797468-25-000098
Chunk: 14

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-06-27
Form: 11-K
Chunk 14
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     |  5,637 |
| Common stocks                             |     |                                              | 73,428 |     |         |     — |     |       | 73,428 |
| Total assets in the fair value hierarchy  |     |                                              | 73,428 |     |         | 5,637 |     |       | 79,065 |
| Investments measured at NAV               |     |                                              |        |     |         |       |     |       |        |
| Short-term investment fund                |     |                                              |        |     |         |       |     |       |  2,053 |
| Total assets at fair value                |     |                                              |        |     |         |       |     | $     | 81,118 |

Prior to the investment being terminated in August 2024, the Bernstein MTIA also participated in the Securities Lending Program for its U.S. securities held in custody at the Trustee to provide incremental income. Details of the Securities Lending Program are discussed above.

The fair value of the Bernstein MTIA securities loaned was approximately $5,432,000 as of December 31, 2023. Cash collateral of approximately $5,637,000 was held as of December 31, 2023, with an offsetting liability. Income earned during 2024 and 2023 was approximately $2,000 and $5,000, respectively, net of bank fees of approximately $1,000 and $3,000, respectively. This income is included as interest income for the Bernstein MTIA.

(7) Related-Party Transactions

The Trustee and Occidental are parties in interest as defined by ERISA. The Trustee invests certain Plan assets in its Collective Short-Term Investment Fund and the Oxy Stock Fund. Such transactions qualify as party-in-interest transactions permitted by the Department of Labor regulations. Occidental paid approximately $841,000 and $667,000 on behalf of the Plan to various vendors for the Plan’s administrative expenses during 2024 and 2023, respectively.

(8) Plan Termination

Although it has not expressed any intent to do so, Occidental has the right under the Plan’s provisions to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA.

(9) Tax Status

The Internal Revenue Service (IRS) has determined and informed Occidental, by a letter dated September 25, 2013, that the Plan and related trust