Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 19

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 19
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 necessary diversity of skills, backgrounds and experiences to meet Occidental’s needs. As part of this process, directors are asked to identify which board candidate skills and attributes should be prioritized for the Board’s ongoing director recruitment. The evaluation process also includes ongoing discussion and feedback from directors throughout the year regarding the Board and its committees’ effectiveness. The Governance Committee annually considers the format of its evaluation processes, which, in recent years, have intentionally included different formats, such as questionnaires, individual director interviews and the use of a third-party facilitator. The 2024 Board evaluation process is summarized below.

| 1 | DETERMINETHE PROCESS  | In2024, the Governance Committee recommended, and the Board approved, Boardevaluations through the use of: (i) written questionnaires, (ii) a skills matrix and(iii) individual director interviews. This process was intended to continue to encouragecandid feedback from directors to promote productive discussions.                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| 2 | CONDUCTEVALUATIONS    | The Board and committee questionnaires solicited feedback related to committee andboard effectiveness and performance; agenda topics and materials; skills; leadership;and, at the Board level, matters related to strategy. The questionnaires also includedopen-ended questions that prompted each director to reflect and comment on his or herown individual performance and contributions to the Board. The Chair of the GovernanceCommittee interviewed each director to discuss his or her questionnaire responses andto solicit additional feedback.                                                                                                                                                                                                                           |
| 3 | ANALYZETHE RESULTS    | In late2024, the aggregated results of the questionnaires and feedback from the directorinterviews were reviewed and discussed at a meeting of the Governance Committee.Each committee reviewed its individual results, and the Chair of the GovernanceCommittee led the Board in a discussion of the overall findings at a meeting of the fullBoard.                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4 | TAKE RESPONSIVEACTION | As part of its analysis of the evaluation results, the Board and management determinedappropriate responsive actions to be implemented over the next year that are intended toaddress areas that were identified as capable of improvement. For example, at theBoard level, this process informed lengthening executive sessions and continued toprovide valuable insight for Board succession planning and preferred director candidatequalifications. At the committee level, for the Sustainability and Shareholder EngagementCommittee as one example, in response to feedback received, the Committee enhancedits process to review our 2025 Sustainability and Climate Reports. In addition, in