Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 12

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 12
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 With Ownership Guidelines and Holding Requirements.CROCE and TSR awards arepayable in shares of common stock and the net shares received for each vested RSU award are subject to a two-yearholding period. In addition, the NEOs (as well as other officers) are subject to meaningful stock ownership guidelines, rangingfrom two to six times the officer’s annual base salary, and a holding requirement until such guidelines are met.✓Monitor Compensation Program for Risk.The executive compensation program includes multiple features that areintended to appropriately mitigate excessive risk-taking. The Compensation Committee conducts an annual assessment ofour executive compensation program to identify and minimize, as appropriate, any compensation arrangements that mayencourage excessive risk-taking.✓Use Double-Trigger Equity Vesting for Equity Awards.Pursuant to the Amended and Restated 2015 Long-Term IncentivePlan (LTIP), equity awards vest in the event of a change in control only if there is also a qualifying termination of employment.✓Use Relative and Absolute Performance Measures for Equity Awards.Performance equity is earned based onboth relative shareholder returns and absolute financial returns, with TSR awards capped if Occidental’s absolute TSRis negative and CROCE awards measured against an absolute performance target. |

| WHAT WE DON’T DO✗No Dividend Equivalents on Unvested Performance Awards.Dividends and dividend equivalent rights are subject to thesame performance goals as the underlying award and will not be paid until the performance award has vested and becomesearned.✗No Hedging or Derivative Transactions.Occidental’s directors, executive officers and all other employees are notpermitted to engage in transactions designed to hedge or offset the market value of Occidental’s equity securities.✗No Golden Parachute Payments.Our golden parachute policy provides that, subject to certain exceptions, Occidental willnot grant golden parachute benefits (as defined in the policy) to any executive officer which exceed 2.99 times his or hersalary plus ACI award without shareholder approval.✗No Repricing of Stock Options.Other than in connection with a corporate transaction involving Occidental, Occidentaldoes not permit the repricing of stock options or stock appreciation rights without shareholder approval. |

| 2025Proxy Statement |
| 13                  |

ELECTION OF DIRECTORS THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” EACH OF THE DIRECTOR NOMINEES. Director Nominations The Board is committed to recruiting and nominating directors for election who will collectively provide the Board with the necessary diversity