Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 73

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 73
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 and $54 million in the years ended December 31, 2024, 2023, and 2022, respectively.As of December 31, 2024, unrecognized compensation expense for all unvested stock-based incentive awards was $300 million. This expense is expected to be recognized over a weighted-average period of 1.9 years. Occidental accounts for forfeitures as they occur.RESTRICTED STOCK UNITSCertain employees are awarded the right to receive RSUs, some of which have performance criteria, and are in the form of, or equivalent in value to, actual shares of Occidental common stock. Depending on their terms, RSUs may be settled in stock or may be cash settled liabilities. These awards vest from one to three years following the grant date. For certain RSUs, dividend equivalents are paid during the vesting period.CASH-SETTLED RSU LIABILITY AWARDSThe weighted-average, grant-date fair values of cash-settled RSUs granted in 2024, 2023, and 2022 were $58.87, $60.43 and $47.41 per share, respectively. Cash-settled RSUs resulted in payments of $8 million, $9 million and $203 million, during the years ended December 31, 2024, 2023, and 2022, respectively.STOCK-SETTLED RSU EQUITY AWARDSThe weighted-average, grant-date fair values of the stock-settled RSUs granted in 2024, 2023, and 2022 were $61.34, $59.85 and $45.14, respectively. The fair value of RSUs settled in shares during the years ended December 31, 2024, 2023, and 2022 was $240 million, $254 million and $160 million, respectively.

106 OXY 2024 FORM 10-K

table of contentsFINANCIAL STATEMENTSFOOTNOTES

A summary of changes in Occidental’s unvested cash- and stock-settled RSUs for 2024 is presented below: Cash-SettledStock-Settledthousands, except fair valuesRSUsRSUsUnvested as of January 1271 $37.96 7,732 $47.03 Granted293 $58.87 3,540 $61.34 Vested(141)$43