Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 42

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 42
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 midstream, downstream, integrated, oilfield services and chemical companies and considered, among other things, enterprise value and companies with which Occidental competes for talent. As noted above, Occidental does not benchmark executive compensation to a specific percentile within the compensation peer group and did not seek direct alignment with pay levels or practices at peer companies when making the determination to update the 2025 compensation peer group.

| 2025Proxy Statement |
| 43                  |

Compensation Discussion and Analysis

Elements of the 2024 Compensation Program Salary The Compensation Committee believes that base salary should reward executives on a market-competitive basis for consistent performance of job requirements and the achievement of short-term goals. Salaries are reviewed by the Compensation Committee annually and as circumstances warrant. In determining base salary levels, the Compensation Committee reviews compensation surveys, publicly available peer company data, internal pay equity, individual responsibilities and performance assessments. In connection with its annual review, the Compensation Committee approved increases in the base salaries for NEOs reflective of each executive’s scope of responsibilities and prior year performance and to remain competitive in attracting and retaining top executive talent.

| NEO                | 2023 Salary |            | 2024 Salary |            | PercentageIncrease |      |
| Vicki Hollub       |             | $1,500,000 |             | $1,575,000 |                    | 5.0% |
| Sunil Mathew       |             |   $700,000 |             |   $750,000 |                    | 7.1% |
| Kenneth Dillon     |             |   $760,000 |             |   $795,000 |                    | 4.6% |
| Richard A. Jackson |             |   $760,000 |             |   $795,000 |                    | 4.6% |
| Robert L. Peterson |             |   $740,000 |             |   $775,000 |                    | 4.7% |

Base salary represented, on average, approximately 12% of the 2024 compensation packages of the NEOs, based on compensation as reported in the Summary Compensation Table on page 55 . For additional information regarding salary decisions for the NEOs in 2024 , see “Individual Compensation Considerations” beginning on page 48 . Annual Cash Incentive The ACI award is intended to motivate executives to achieve superior company and individual performance over a one-year period. In the first quarter of each plan year, the Compensation Committee approves individual target award amounts for each