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
Contents
Pay vs. Performance
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K,
we are providing the following information about the relationship between executive compensation actually paid (as calculated in
accordance with such rule) (CAP) and certain financial performance metrics of Occidental. For further information concerning
Occidental’s pay for performance philosophy and how Occidental aligns executive compensation with performance, see “Proxy
Statement Summary—Executive Compensation Program Summary—Allocation of Direct Compensation Elements” on page 10 and
“Compensation Discussion and Analysis—Overview of the 2025 Executive Compensation Program” on page 38.
| Value of Initial Fixed $100Investment Based On: | ||||||||
|---|---|---|---|---|---|---|---|---|
| Year | SummaryCompensationTable Total forCEO(1) | CompensationActually Paidto CEO(2) | AverageSummaryCompensationTable Total forOther NEOs(3) | AverageCompensationActuallyPaid to OtherNEOs(4) | OccidentalTotalShareholderReturn(5) | Peer GroupTotalShareholderReturn(6) | NetIncome(7)(millions) | CROCE(8)(non-GAAP) |
| 2025 | $18,055,969 | $11,322,463 | $6,115,905 | $3,787,109 | $252 | $268 | $2,369 | 19% |
| 2024 | $18,535,061 | $4,282,967 | $5,818,111 | $1,693,988 | $296 | $234 | $3,078 | 21% |
| 2023 | $17,735,019 | $15,008,117 | $5,744,126 | $5,182,784 | $353 | $235 | $4,696 | 23% |
| 2022 | $14,969,510 | $59,216,041 | $5,953,206 | $15,766,136 | $367 | $236 | $13,304 | 36% |
| 2021 | $11,068,539 | $25,210,335 | $4,898,834 | $7,786,898 | $168 | $147 | $2,322 | 22% |
(1)The dollar amounts reported are the amounts of “Total” compensation reported in our Summary Compensation Table for our CEO, Vicki Hollub, during each year.
(2)The dollar amounts reported represent the amount of CAP to the CEO, computed in accordance with SEC rules, for each year. The dollar amounts do not reflect the
actual amount of compensation earned by or paid to the CEO during the applicable year. The 2024 CAP amount previously disclosed in our 2025 proxy statement
inadvertently omitted 2022 CROCE and TSR awards that vested during the 2024 compensation year but were not settled until 2025. We have adjusted the CAP
amount for the 2024 compensation year in this column to reflect CAP inclusive of those awards. In accordance with SEC rules, the following adjustments were
made to total compensation to determine the CEO’s compensation actually paid in 2025 and 2024:
| Year | Reported SummaryCompensation Table Total | Reported Value ofEquity Awards(a) | Equity AwardAdjustments(b) | CAP |
|---|---|---|---|---|
| 2025 | $18,055,969 | $12,298,207 | $5,564,701 | $11,322,463 |
| 2024 | $18,535,061 | $12,640,152 | $(1,611,942) | $4,282,967 |
(a)The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in the Summary
Compensation Table on page 49.
(b)The equity award adjustments for the applicable year were calculated consistent with U.S. generally accepted accounting principles, and the valuation
assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. These adjustments include the addition (or
subtraction, as applicable) of the following:
| Year | Year End FairValue of EquityAwards GrantedDuring the Year | Year over YearChange in Fair Value of Outstanding andUnvested EquityAwards Grantedin Prior Years | Change in Fair Value From Prior Year End to Vesting Date ofEquity Awards Granted in Prior Years thatVested in the Year | Fair Value at the End of Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year | Value of Dividends or Other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value | Total EquityAwardAdjustments |
|---|---|---|---|---|---|---|
| 2025 | $8,819,243 | $(2,755,369) | $(1,014,435) | $— | $515,262 | $5,564,701 |
| 2024 | $8,535,373 | $(6,858,532) | $(3,688,096) | $— | $399,313 | $(1,611,942) |
(3)The dollar amounts reported represent the average of the amounts reported for Occidental’s NEOs as a group (excluding our CEO) in the “Total” column of
the Summary Compensation Table in each applicable year. The NEOs included for purposes of calculating the average amounts in each applicable year are
as follows: (i) for 2025, Mr. Mathew, Mr. Jackson, Mr. Dillon, and Mr. Simmons; (ii) for 2024, Mr. Mathew, Mr. Dillon, Mr. Jackson, and Robert L. Peterson; (iii)
for 2023, Mr. Mathew, Mr. Dillon, Mr. Jackson, Mr. Peterson, and Mr. Simmons; (iv) for 2022, Mr. Peterson, Peter J. Bennett, Mr. Dillon, Mr. Jackson, and
Marcia E. Backus; and (v) for 2021, Mr. Peterson, Ms. Backus, Mr. Dillon, and Mr. Jackson.
2026 Proxy Statement
59
(4)The dollar amounts reported represent the average amount of CAP to the other NEOs, computed in accordance with SEC rules, for each year. The dollar amounts
do not reflect the actual average amount of compensation earned by or paid to such NEOs during the applicable year. The 2024 average CAP amount previously
disclosed in our 2025 proxy statement inadvertently omitted 2022 CROCE and TSR awards that vested during the 2024 compensation year but were not settled
until 2025. We have adjusted the average CAP amount for the 2024 compensation year in this column to reflect average CAP inclusive of those awards. In
accordance with SEC rules, the following adjustments were made to the average total compensation, as applicable, to determine the compensation actually paid in
2025 and 2024:
| Year | Average Reported Summary Compensation Table Total | Average Reported Value of Equity Awards(a) | Average Equity AwardAdjustments(b) | Average CAP |
|---|---|---|---|---|
| 2025 | $6,115,905 | $3,863,794 | $1,534,998 | $3,787,109 |
| 2024 | $5,818,111 | $3,642,188 | $(481,936) | $1,693,988 |
(a)The grant date fair value of equity awards represents the average of the total of the amounts reported in the “Stock Awards” and “Option Awards” columns in
the Summary Compensation Table on page 49.
(b)The equity award adjustments were calculated consistent with U.S. generally accepted accounting principles, and the valuation assumptions used to calculate
fair values did not materially differ from those disclosed at the time of grant. These adjustments include the addition (or subtraction, as applicable) of
the following:
| Year | Average Year End Fair Value of Equity Awards Granted During the Year | Average Year over Year Change in Fair Value of Outstanding and Unvested EquityAwards Grantedin Prior Years | Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year | Average Change in Fair ValueFrom Prior Year End to Vesting Date of Equity Awards Granted in Prior Years that Vested in the Year | Average Fair Value at the End of Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year | Average Value of Dividends or Other Earnings Paid on Stock or Option Awards not OtherwiseReflected in Fair Value | Total Average Equity AwardAdjustments |
|---|---|---|---|---|---|---|---|
| 2025 | $2,501,864 | $(796,223) | $— | $(316,626) | $— | $145,938 | $1,534,998 |
| 2024 | $2,459,416 | $(1,967,904) | $— | $(1,112,307) | $— | $138,859 | $(481,936) |
(5)Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the 1-, 2-, 3-, 4- and 5-year periods beginning December 31, 2020 and
running through each fiscal year end, assuming dividend reinvestment, and the difference between Occidental’s share price at the end and the beginning of the
applicable measurement period by Occidental’s share price on December 31, 2020.
(6)Amounts reported in this column assume that dividends were reinvested on the day of issuance. The peer group used for this purpose is the performance peer
group as described in “Compensation Discussion and Analysis—Participants in the Executive Compensation Decision-Making Process—Role of Peer Company
Information” on page 39 exclusive of the S&P 500 Index.
(7)The dollar amounts reported represent the amount of net income reflected in Occidental’s audited financial statements for the applicable year.
(8)CROCE is defined by Occidental as cash flows from operating activities before changes in working capital plus any distributions from Western Midstream Partners,
LP which are included in cash flows from investing activities divided by average total debt plus stockholders’ equity (average of the beginning and ending totals for
the applicable period). Management believes that CROCE is useful to investors when comparing our profitability and the efficiency with which management has
employed capital over time relative to other companies. CROCE is not considered to be an alternative to net income reported in accordance with GAAP.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.