Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 22

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 22
---
) and thenominee(s) must also meet theeligibility requirements described inOccidental’s By-laws |

Board of Directors and its Committees Occidental is governed by its Board, which is led by an independent Chairman, and its five committees, composed entirely of independent directors. The structure of the Board and the responsibilities of its committees are described in more detail below. Director Independence Occidental’s Corporate Governance Policies require that independent directors comprise at least two-thirds of the members of the Board — a policy that exceeds NYSE requirements. The Board has affirmatively determined that each of our Board’s director nominees, other than Ms. Hollub, is independent. Independent Board Leadership Structure Occidental’s By-laws provide for the Board to annually elect one of its independent directors to be Chairman of the Board. Responsibilities of Independent Chairman Mr. Moore has served as the Independent Chairman of the Board since September 2022. The Chairman of the Board presides at Board meetings and meetings of shareholders and his/her responsibilities include, among other things:

| ►Call meetings of the independent directors and chairexecutive sessions of the Board at which no members ofmanagement are present;►Approve the agendas for Board meetings;►Propose a schedule of Board meetings and the informationto be provided by management for Board consideration;►Recommend the retention of consultants who report directlyto the Board;►Assist in assuring compliance with the CorporateGovernance Policies and in recommending revisions tothe policies; | ►Evaluate, along with the members of the CompensationCommittee and the other independent directors, theperformance of the Chief Executive Officer;►Consult with other Board members as to recommendationson the membership and chairpersons of the Boardcommittees and discuss recommendations with theGovernance Committee;►Communicate to the CEO the views of the independentdirectors and the Board committees with respect toobjectives set for management by the Board; and►Serve as a liaison between the Board andOccidental’s shareholders. |

| 2025Proxy Statement |
| 25                  |

Corporate Governance

Board Committees The committees of the Board are composed entirely of independent directors. The primary responsibilities of the committees are described below. From time to time, the Board of Directors delegates additional duties to the committees. Furthermore, at least annually, the Governance Committee reviews and makes recommendations on committee composition and leadership. The table below summarizes information about current committee membership and the 2024 committee meetings. The committees also regularly invite all other Board members to join their meetings as scheduling permits and otherwise report on their activities to the full