OCCIDENTAL PETROLEUM CORP /DE/
For the period ended Dec 31, 2025. Filed Mar 19, 2026.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Dec 31, 2025 · Filed Mar 19, 2026
OXY$56.38+0.0%Stored close · as of Nov 6, 2026
Contents
Overview of the Executive Compensation Program
Overview of the 2025 Executive
Compensation Program
| Element/ Purpose | CEO | Average Other NEOs | How Business Strategy and GoalsDrive Target Value Determinations | |||
| Cash | Fixed | Base SalaryProvides a competitive level of fixed compensation. | The Compensation Committee reviews base salaries annually and as circumstances warrant. As part of such review, the Compensation Committee considers and evaluates compensation surveys, publicly available peer company data, internal pay equity, individual responsibilities and performance assessments with the intent to attract and retain highly talented executives. | |||
|---|---|---|---|---|---|---|
| Variable / At-Risk | Annual Cash IncentiveMotivates executives to achieve superior performance over a one-year period. | The Compensation Committee annually reviews the metrics and targets underlying the ACI award, and their relative weightings, with an aim to incentivize the NEOs in the short term to excel in areas that are aligned with Occidental’s business objectives.For the 2025 ACI award, the Compensation Committee determined to maintain the weighting of the financial metrics but, in response to shareholder and other stakeholder feedback regarding the recent use of CROCE as a metric for both the ACI and LTI awards, replace CROCE with free cash flow before working capital as a performance metric to promote near-term capital discipline and shareholder value creation. See “Compensation Discussion and Analysis—Elements of the 2025 Compensation Program—Annual Cash Incentive” beginning on page 41 for more information regarding the 2025 ACI award program approved by the Committee. | ||||
| Stock Awards | Long-TermIncentives(1)Incentivizes executives to sustain long-term performance. | PSU Awards | The Compensation Committee annually reviews and determines a target LTI award package for each NEO based on an evaluation of compensation surveys, publicly available peer company data, the executive’s prior-year award value (as applicable), retention considerations, the balance of short-and long-term pay and internal pay equity.The majority of the LTI award package for each NEO is performance-based. The Compensation Committee annually considers the performance criteria for PSU awards in light of Occidental’s ongoing business objectives as well as the macroeconomic environment. | |||
| Provides a retention incentive that promotes sustained stock ownership and alignment with stock price performance. | RSU Awards | |||||
10%
16%
15%
15%
TSR
22.5%
TSR
20.7%
CROCE
22.5%
CROCE
20.7%
27.6%
30%
(1) Performance Share Units (PSUs); Restricted Stock Units (RSUs).
2026 Proxy Statement
39
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