Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 18

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 18
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 director stock ownership; and Board, committee and individual director performance evaluations. In addition to the Corporate Governance Policies, the Board has established other stand-alone governance policies, including a policy on shareholder rights plans, a confidential voting policy and an independent compensation consultant policy. Occidental’s governance policies are reviewed and updated periodically, in light of changing regulations, evolving best practices and shareholder feedback. The Corporate Governance Policies and other governance policies are available on our website at www.oxy.com/investors/governance.

| Occidental’s corporate governance practices generally align with the Investor Stewardship Group’s Corporate GovernanceFramework for U.S. Listed Companies. |

Corporate Governance Highlights

| RELATING TO THE BOARD►Independent Chairman of the Board►Annual elections of the entire Board by a majority ofvotes cast (for uncontested elections)►Demonstrated commitment to Board refreshment►Tenure policy that seeks to maintain an average tenureof 10 years or less for non-employee directors►Board committees composed entirely ofindependent directors►Meaningful director stock ownership guidelines (6xannual cash retainer) with holding requirement►Annual evaluations of the Board, each committee andindividual directors►One meeting dedicated to strategy discussions everyyear with an expanded management group, in additionto ongoing strategy oversight |     | RELATING TO SHAREHOLDER RIGHTS►Ability of shareholders to call a special meeting at a15% threshold►Ability of shareholders to propose an action by writtenconsent at a 15% threshold►Shareholder right to proxy access (3% for 3 years, upto 20% of the Board)(1)►Confidential Voting Policy►Nominating Policy to consider properly submittedshareholder-recommended director nominees►No supermajority voting requirements►Active independent director participation in andoversight of the shareholder engagement program |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |     | (1)For more information, see "Corporate Governance - Director Selectionand Recruitment - Proxy Access for Shareholder Nominated DirectorCandidates" on page24.                                                                                                                                                                                                                                                                                                                                                              |

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Corporate Governance

Board Evaluation Process Led by the Governance Committee, the Board conducts a robust annual evaluation of its performance and the performance of each of the Board’s committees and the individual directors. The Governance Committee believes that board evaluations are a critical tool in assessing the composition and effectiveness of the Board, its committees and its members and present an opportunity to identify areas of strength and areas capable of improvement. The annual Board evaluation includes an assessment of, among other things, whether the Board and its committees have the