Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 52

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 52
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 thecompany’s balance sheet and capital program, prioritizing near-term debt maturities and maintaining openengagement with shareholders and the financial community. |     |                                         |
|                                                                  | COMPENSATION DECISIONSBase Salary:EffectiveFebruary 19, 2024, Mr. Mathew’s base salary was increased by$50,000to$750,000.Annual Cash Incentive:Mr. Mathew’starget ACI award opportunity was set at$700,000, unchanged from2023. Based on the company’s performance, the Compensation Committee approved an ACI payout of135%of target.Long-Term Incentives:The target grant date value of Mr. Mathew’s LTI award package for2024was$3,200,000, an approximate3%increase from2023. For information regarding how the CompensationCommittee determines individual components of the LTI program, see “Elements of the2024Compensation Program – Long-Term Incentive Program” beginning on page45. |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |     | 2024TARGET COMPENSATION($) in Thousands |

$750 Base Salary $700 Annual Cash Incentive $3,200 Long-Term Incentives $4,650 Total Annual Compensation

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Compensation Discussion and Analysis

| KENNETH DILLON | Senior Vice President |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |     |                                         |
|                                        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | Mr. Dillon is a Senior Vice President of Occidental and the President of International Oil and Gas Operations forOccidental Oil and Gas Corporation, a subsidiary of Occidental. In this role, Mr. Dillon oversees the company’soperations in the Middle East, North Africa, South America and the Gulf of America, as well as Major Projectsand Supply Chain.Tenure.Mr. Dillon joined Occidental more than 35 years ago and, before his appointment as Senior Vice Presidentin 2016, has held a variety of increasingly significant leadership positions.Performance Assessment.In assessing Mr. Dillon's performance, the Compensation Committee consideredthat under his leadership, Oman North achieved record gross production with best ever HSE performance.Oman North also commenced a CO2enhanced oil recovery pilot program. With respect to Major Projects, theSTRATOS project milestones for mechanical completion were achieved. Under Mr. Dillon’s direction, the Al Hosndrilling program was completed as