Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 47

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 47
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 pay to achieving long-term growth in shareholder value; ► Linkage of any above-target payouts to superior performance and absolute returns; ► Shareholder feedback regarding long-term compensation metrics; ► Competitiveness with the compensation programs of peer companies; ► Impact of commodity prices on Occidental’s stock price and financial performance; and ► Allocation of total compensation between long-term and short-term components. 2024 Long-Term Incentive Program. The 2024 LTI program consisted of two PSU awards (one based on Occidental’s relative and absolute TSR and the other based on absolute CROCE performance) and a time-based RSU award as follows: 30% CROCE Award 40% RSU Award 30% TSR Award Forfeiture and change in control provisions applicable to the awards are discussed in more detail in the Potential Payments upon Termination or Change in Control table and the accompanying footnotes, beginning on page 62 . Total Shareholder Return (TSR) Award. The Compensation Committee believes that the comparison of Occidental’s three-year TSR to peer companies’ TSR over the same period is an objective external measure of Occidental’s effectiveness in translating its results into shareholder returns. TSR is the change in price of a share of common stock plus reinvested dividends, over a specified period of time, and is an indicator of management’s achievement of long-term growth in shareholder value. Payout of the TSR award is based on Occidental’s three-year TSR as compared to the three-year TSR of the performance peers identified on page 42 . The TSR award is denominated in PSUs, each of which is equivalent to one share of common stock. The percentage of target PSUs that will be payable at the end of the three-year performance period, which began January 1, 2024 and ends December 31, 2026 , will depend on Occidental’s relative and absolute TSR performance. If Occidental’s absolute TSR is negative over the performance period, then, irrespective of Occidental’s ranking within the peer group, the payout of the TSR award is capped at no more than target. A table illustrating the potential payout of the TSR award based on relative and absolute TSR performance is set forth below:

| TSR Ranking                                                        | % of Target PSUs Earned                 |
| #1                                                                 | 200%                                    |
| #2                                                                 | 180%                                    |
| Between #2 and #8                                                  | Linearly interpolated between25%and180% |
| #8                                                                 | 25%                                     |