Company: OXY-WT
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0000797468-25-000054
Chunk: 85

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 85
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 make any other determination or take any other action necessary or desirable for the administration of the Amended LTIP; and ► reconcile any inconsistencies in the Amended LTIP, any award or any award agreement. The Compensation Committee may delegate its authority to a subcommittee of the Board. The Compensation Committee may also delegate to an officer, director or employee the authority to grant awards to new employees who are not executive officers under Section 16 of the Securities Exchange Act of 1934, as amended. In addition, the Compensation Committee may delegate ministerial functions to officers, employees or third parties. References to the Compensation Committee in this Proposal 4 shall refer to the Compensation Committee or its designee. Duration. If approved by shareholders, the Amended LTIP would be effective as of the date of such approval, which would be May 2, 2025 (Amendment Effective Date). The Amended LTIP would terminate on February 12, 2035, the tenth anniversary of the date on which the Amended LTIP was approved by the Board, unless earlier terminated by our Board. Although no further awards may be granted under the Amended LTIP after February 12, 2035, the Amended LTIP would remain in effect until all awards granted under the Amended LTIP have been satisfied or have expired. Eligible Individuals. All officers and employees of Occidental and its subsidiaries and other persons who provide services to Occidental and its subsidiaries, including members of the Board and consultants, would be eligible to receive awards under the Amended LTIP. Eligible individuals who are designated by the Compensation Committee to receive an award under the Amended LTIP are referred to as “participants.” As of December 31, 2024, there were 29 officers (including 8 executive officers), approximately 13,000 other employees, 9 non-employee directors and zero consultants who would be eligible to participate in the Amended LTIP. Available Shares. The existing LTIP provides for a share reserve of 133,031,766 shares of common stock. The Amended LTIP would increase the number of shares of common stock available for awards under the LTIP by 55,000,000 shares. Accordingly, the total number of shares of common stock available for issuance in connection with awards under the Amended LTIP would not exceed 188,031,766 shares (the Amended Reserved Shares). The Amended Reserved Shares represent the maximum number of shares that may be issued under the Amended LTIP. All