Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 31

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 31
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 |                    | $225,043 |       | $343,793 |
| Robert M. Shearer         |                               | $118,750 |                    | $250,026 |       | $368,776 |

(1) As approved by the Board in May 2024, in respect of (i) the annual cash retainer reflected annual retainer levels of $125,000 for non-employee directors and $155,000 for the Chairman of the Board; (ii) the annual equity award reflected levels of $225,000 for non-employee directors and $405,000 for the Chairman of the Board; and (iii) the additional annual equity award for committee chairs of $25,000 for each committee. (2) Equity awards are granted to each non-employee director on the first business day following the annual meeting. Prior to the grant date, directors are given the option to receive their annual equity awards as shares of common stock or as deferred stock units, as described above. In 2024 , Ms. O’Neill elected to receive deferred stock units, while all other non-employee directors elected to receive shares of common stock. The grant date fair value reported in the table is calculated by multiplying the number of shares of common stock granted by a price per share of $64.39, the closing price of Occidental’s common stock on the NYSE on May 3, 2024 . These grants are made in whole shares, with fractional share amounts rounded up to the nearest whole share. For information regarding the total number of restricted shares and deferred stock units held by each director, see the Beneficial Ownership of Directors and Executive Officers table on page 79 .

| 34 |

ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION Occidental is submitting this proposal to its shareholders for an advisory vote to approve the compensation of its named executive officers (Say-on-Pay vote) as disclosed in this proxy statement pursuant to Section 14A of the Exchange Act. At our 2023 annual meeting, Occidental’s shareholders approved, on an advisory basis, a frequency of every year for casting advisory votes to approve named executive officer compensation. The next Say-on-Pay vote is expected to occur at our 2026 annual meeting. The executive compensation program for the named executive officers includes many best-pr