Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 81

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 81
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PMG the matters required to be discussed by the applicable standards of the PCAOB and the SEC. The Audit Committee received from KPMG written disclosures and the letter regarding its independence as required by the applicable requirements of the PCAOB. The Audit Committee has also considered whether the provision of non-audit services provided by KPMG to Occidental is compatible with maintaining their independence and has discussed with KPMG the firm’s independence. Based upon the reports and discussions described in this report, the Audit Committee recommended to the Board that the audited financial statements be included in Occidental’s Annual Report on Form 10-K for the year ended December 31, 2024 , to be filed with the SEC. Respectfully submitted, THE AUDIT COMMITTEE Robert M. Shearer (Chair) Andrew Gould Carlos M. Gutierrez Avedick B. Poladian Kenneth B. Robinson

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APPROVAL OF OCCIDENTAL’S AMENDED AND RESTATED 2015 LONG- TERM INCENTIVE PLAN THE BOARD RECOMMENDS THAT YOU VOTE “FOR” THE APPROVAL OF OCCIDENTAL’S AMENDED LTIP. Occidental shareholders previously approved the Occidental Petroleum Corporation 2015 Long-Term Incentive Plan (referred to for purposes of this Proposal 4 as the LTIP), under which key employees, directors, consultants and other persons who provide services to Occidental and its subsidiaries may be granted equity-based incentive awards. At the 2025 Annual Meeting, shareholders will be asked to approve an amendment and restatement of the LTIP (Amended LTIP), which was approved by the Board on February 12, 2025. The proposed Amended LTIP would increase the number of shares of Occidental’s common stock that may be issued under the LTIP by 55,000,000 shares. Occidental believes that this increase is advisable in order for Occidental to have an adequate number of shares av ailable in connection with its compensation programs. The proposed Amended LTIP would also extend the term for an additional ten years from February 12, 2025 (the date on which the Amended LTIP was approved by the Board), as well as make certain administrative and technical updates. The text of the Amended LTIP appears at the end of this Proxy Statement as Annex B. The following description of the Amended LTIP is a summary only and should be read in conjunction with the full text of the Amended LTIP. Highlights The Amended LTIP continues