Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 55

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 55
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ENSATION DECISIONSBase Salary:EffectiveFebruary 19, 2024, Mr. Peterson’s salary was increased by$35,000to$775,000.Annual Cash Incentive:Mr. Peterson’s target ACI award opportunity was set at$700,000, unchangedfrom2023. Based on the company’s performance, the Compensation Committee approved an ACI payoutof135%of target.Long-Term Incentives:The target grant date value of Mr. Peterson’s LTI award package for2024was$3,200,000, unchanged from2023. For information regarding how the Compensation Committeedetermines individual components of the LTI program, see “Elements of the2024Compensation Program– Long-Term Incentive Program” beginning on page45. |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |     | 2024TARGET COMPENSATION($) in Thousands |

$775 Base Salary $700 Annual Cash Incentive $3,200 Long-Term Incentives $4,675 Total Annual Compensation

| 2025Proxy Statement |
| 53                  |

Compensation Discussion and Analysis

Additional Compensation Policies and Practices Stock Ownership Guidelines Occidental’s stock ownership guidelines are intended to more closely align the interests of the NEOs and other officers with those of the company’s shareholders. The ownership guidelines range from two to six times the officer’s annual base salary, based on position, as illustrated below:

| Position                | Multiple of Base Salary |
| Chief Executive Officer |                       6 |
| Chief Financial Officer |                       4 |
| Senior Vice Presidents  |                       3 |
| Vice Presidents         |                       2 |

An officer who does not meet the minimum ownership guidelines may not sell any shares of Occidental common stock until he or she meets the ownership guidelines and would continue to meet the ownership guidelines following any such sale. Unvested performance- based stock awards, unvested PSUs and unexercised stock options do not count toward satisfaction of the stock ownership guidelines. Officers subject to the guidelines are expected to comply within five years of the date the individual is first elected to the office. Equity Grant Practices The Compensation Committee generally grants annual equity awards each year at its regularly scheduled Compensation Committee meeting in February. Consistent with such practice, at its regularly scheduled February 2024 meeting, the Compensation Committee approved 2024 equity grants pursuant to the LTI program with a grant date of March 1, 2024 .