Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 53

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 53
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 planned while achieving another record HSE milestone. Mr. Dillon alsoestablished the Gulf of America Waterflood project, highlighting substantial multi-year resource potential.Furthering the company’s strategic Supply Chain initiatives, Mr. Dillon led the commencement of AI efficiencyprojects, which have already begun to yield positive results. |     |                                         |
|                                        | COMPENSATION DECISIONSBase Salary:EffectiveFebruary 19, 2024, Mr. Dillon’s salary was increased by$35,000to$795,000.Annual Cash Incentive:Mr. Dillon’s target ACI award opportunity was set at$825,000, unchanged from2023. Based on the company’s performance, the Compensation Committee approved an ACI payout of135%of target.Long-Term Incentives:The target grant date value of Mr. Dillon’s LTI award package for2024was$3,600,000, an approximate3%increase from2023. For information regarding how the CompensationCommittee determines individual components of the LTI program, see “Elements of the2024Compensation Program – Long-Term Incentive Program” beginning on page45. |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |     | 2024TARGET COMPENSATION($) in Thousands |

$795 Base Salary $825 Annual Cash Incentive $3,600 Long-Term Incentives $5,220 Total Annual Compensation

| 2025Proxy Statement |
| 51                  |

Compensation Discussion and Analysis

| RICHARD A. JACKSON | Senior Vice President |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |     |                                         |
|                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Mr. Jackson is a Senior Vice President of Occidental and the U.S. Onshore Resources and Carbon Management– President, Operations. In this role, Mr. Jackson leads the development and operations of Occidental’s U.S.onshore oil and gas businesses while continuing to advance and integrate the company’s low-carbontechnologies and opportunities. His responsibilities include accelerating subsurface innovation, delivering value-added resource development and advancing operational technologies and key low-carbon innovations.Tenure.Mr. Jackson joined Occidental in 2003 and, before his appointment as Senior Vice President in 2020,held a variety of increasingly significant leadership positions.Performance Assessment.In assessing Mr. Jackson's performance, the Compensation Committee consideredhis contributions to the success