Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 76

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 76
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 defined by Occidental as cash flows from operating activities before changes in working capital plus any distributions from Western Midstream Partners, LP which are included in cash flows from investing activities divided by average total debt plus stockholders’ equity (average of the beginning and ending totals for the applicable period). Management believes that CROCE is useful to investors when comparing our profitability and the efficiency with which management has employed capital over time relative to other companies. CROCE is not considered to be an alternative to net income reported in accordance with GAAP. Financial Performance Measures As described in greater detail in “Compensation Discussion and Analysis” beginning on page 35 , Occidental’s executive compensation program reflects a variable pay-for-performance philosophy. The metrics that Occidental uses for both our long-term and short-term incentive awards are selected based on an objective of incentivizing our NEOs to increase the value of our enterprise for our shareholders. The most important financial performance measures used by Occidental to link executive compensation actually paid to Occidental’s NEOs, for the most recently completed fiscal year, to Occidental’s performance are as follows: ► Cash Return on Capital Employed ( CROCE ) (Company-Selected Measure) ► Relative Total Shareholder Return (TSR) ► Total Spend per Barrel

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Pay vs. Performance

Analysis of the Information Presented in the Pay versus Performance Table As described in more detail in the “Compensation Discussion and Analysis” beginning on page 35 , Occidental’s executive compensation program reflects a variable pay-for-performance philosophy. While Occidental utilizes several performance measures to align executive compensation with company performance, all of those company measures are not presented in the Pay versus Performance table. Moreover, Occidental generally seeks to incentivize long-term performance, and therefore does not specifically align Occidental’s performance measures with compensation that is actually paid (as computed in accordance with SEC rules) for a particular year. In accordance with SEC rules, Occidental is providing the following descriptions of the relationships between information presented in the Pay versus Performance table. Compensation Actually Paid and TSR

| CAP to CEO ($M)                |
| Average CAP to Other NEOs ($M) |
| Company TSR ($)*               |
| Peer Group TSR ($)*            |

* Value of initial fixed $100 investment on December 31, 2019. Compensation Actually Paid and Net Income

| CAP to CEO ($M)                |
| Average CAP to Other NEOs ($M) |
| Net Income ($B)                |

Compensation Actually Paid and CROCE