Occidental Petroleum Corp. Announces 2024 Annual Meeting of Shareholders

Ticker: OXY-WT · Form: DEF 14A · Filed: Mar 21, 2024 · CIK: 797468

Occidental Petroleum Corp /De/ DEF 14A Filing Summary
FieldDetail
CompanyOccidental Petroleum Corp /De/ (OXY-WT)
Form TypeDEF 14A
Filed DateMar 21, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$1.5 billion, $12.3 billion, $5.5 billion, $1.8 billion, $1.5 b
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Annual Meeting, Shareholder Voting, Webcast, Occidental Petroleum

TL;DR

<b>Occidental Petroleum will hold its 2024 Annual Meeting of Shareholders via webcast on May 2, 2024, allowing online participation and voting.</b>

AI Summary

OCCIDENTAL PETROLEUM CORP /DE/ (OXY-WT) filed a Proxy Statement (DEF 14A) with the SEC on March 21, 2024. The 2024 Annual Meeting of Shareholders for Occidental Petroleum Corporation will be held via live webcast on Thursday, May 2, 2024, at 9:00 a.m. Central Time. Shareholders can participate online at www.virtualshareholdermeeting.com/OXY2024. Questions and electronic voting are permitted during the meeting, except for shares held through employee benefit plans. The filing is a Definitive Proxy Statement (DEF 14A) filed on March 21, 2024. The report covers the fiscal year ending December 31, 2023.

Why It Matters

For investors and stakeholders tracking OCCIDENTAL PETROLEUM CORP /DE/, this filing contains several important signals. This DEF 14A filing provides shareholders with crucial information regarding the upcoming annual meeting, including details on how to attend, participate, and vote. The webcast format and online voting mechanism are designed to facilitate broader shareholder engagement and accessibility.

Risk Assessment

Risk Level: low — OCCIDENTAL PETROLEUM CORP /DE/ shows low risk based on this filing. The filing is a routine proxy statement and does not contain new financial performance data or strategic shifts that would indicate significant immediate risk.

Analyst Insight

Shareholders should review the proxy statement for details on voting procedures and proposals to be discussed at the May 2, 2024 Annual Meeting.

Key Numbers

  • 2024-05-02 — Annual Meeting Date (2024 Annual Meeting of Shareholders)
  • 9:00 a.m. CT — Annual Meeting Time (2024 Annual Meeting of Shareholders)
  • 2023-12-31 — Fiscal Year End (Conformed Period of Report)
  • 2024-03-21 — Filing Date (DEF 14A Filing Date)

Key Players & Entities

  • Occidental Petroleum Corp (company) — Registrant Name
  • DEF 14A (filing) — Form Type
  • 2024-03-21 (date) — Filing Date
  • May 2, 2024 (date) — Annual Meeting Date
  • 9:00 a.m. Central Time (time) — Annual Meeting Time
  • www.virtualshareholdermeeting.com/OXY2024 (url) — Meeting Participation URL
  • 7132157000 (phone) — Business Phone Number
  • DE (state) — State of Incorporation

FAQ

When did OCCIDENTAL PETROLEUM CORP /DE/ file this DEF 14A?

OCCIDENTAL PETROLEUM CORP /DE/ filed this Proxy Statement (DEF 14A) with the SEC on March 21, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by OCCIDENTAL PETROLEUM CORP /DE/ (OXY-WT).

Where can I read the original DEF 14A filing from OCCIDENTAL PETROLEUM CORP /DE/?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by OCCIDENTAL PETROLEUM CORP /DE/.

What are the key takeaways from OCCIDENTAL PETROLEUM CORP /DE/'s DEF 14A?

OCCIDENTAL PETROLEUM CORP /DE/ filed this DEF 14A on March 21, 2024. Key takeaways: The 2024 Annual Meeting of Shareholders for Occidental Petroleum Corporation will be held via live webcast on Thursday, May 2, 2024, at 9:00 a.m. Central Time.. Shareholders can participate online at www.virtualshareholdermeeting.com/OXY2024.. Questions and electronic voting are permitted during the meeting, except for shares held through employee benefit plans..

Is OCCIDENTAL PETROLEUM CORP /DE/ a risky investment based on this filing?

Based on this DEF 14A, OCCIDENTAL PETROLEUM CORP /DE/ presents a relatively low-risk profile. The filing is a routine proxy statement and does not contain new financial performance data or strategic shifts that would indicate significant immediate risk.

What should investors do after reading OCCIDENTAL PETROLEUM CORP /DE/'s DEF 14A?

Shareholders should review the proxy statement for details on voting procedures and proposals to be discussed at the May 2, 2024 Annual Meeting. The overall sentiment from this filing is neutral.

How does OCCIDENTAL PETROLEUM CORP /DE/ compare to its industry peers?

Occidental Petroleum Corporation operates in the oil and gas industry, focusing on crude petroleum and natural gas extraction.

Are there regulatory concerns for OCCIDENTAL PETROLEUM CORP /DE/?

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing proxy solicitations.

Industry Context

Occidental Petroleum Corporation operates in the oil and gas industry, focusing on crude petroleum and natural gas extraction.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing proxy solicitations.

What Investors Should Do

  1. Review the proxy statement for details on proposals and voting procedures.
  2. Register to attend the virtual Annual Meeting on May 2, 2024.
  3. Submit questions and vote shares electronically prior to the meeting if held through employee benefit plans.

Key Dates

  • 2024-05-02: 2024 Annual Meeting of Shareholders — Shareholders will attend and vote via live webcast.

Year-Over-Year Comparison

This is a DEF 14A filing for the 2024 Annual Meeting, providing information for the fiscal year ending December 31, 2023.

Filing Stats: 4,259 words · 17 min read · ~14 pages · Grade level 15.4 · Accepted 2024-03-21 16:20:05

Key Financial Figures

  • $1.5 billion — eeding guidance and achieving more than $1.5 billion in pre-tax income for the third time i
  • $12.3 billion — uccesses enabled Occidental to generate $12.3 billion of operating cash flow, generate $5.5
  • $5.5 billion — llion of operating cash flow, generate $5.5 billion of free cash flow before working capit
  • $1.8 billion — before working capital (1) , complete $1.8 billion of common share repurchases and redeem
  • $1.5 b — mmon share repurchases and redeem over $1.5 billion, or approximately 15%, of the com
  • $1.5 — Chem generated pre-tax earnings of over $1.5B, nearly matching its second highest y
  • $550 million — ntal's first DAC plant, which provides $550 million of committed investment Commenced Fro

Filing Documents

Executive Compensation Tables

Executive Compensation Tables 56 Summary Compensation 56 Grants of Plan-Based Awards 57 Outstanding Equity Awards 58 Stock Vested in 2023 60 Nonqualified Deferred Compensation 60 Executive Severance and Change in Control 61 Potential Payments upon Termination or Change in Control 63 Pay vs. Performance 66 Financial Performance Measures 67 Analysis of the Information Presented in the Pay versus Performance Table 67 Pay Ratio 68 PROPOSAL 3 RATIFICATION OF SELECTION OF KPMG AS OCCIDENTAL'S INDEPENDENT AUDITOR 69 Audit Related Matters 69 Ratification of Selection of Independent Auditor 70 Report of the Audit Committee 70 PROPOSAL 4 SHAREHOLDER PROPOSAL REQUESTING AN ANNUAL REPORT ON LOBBYING 71 The Board of Directors' Statement in Opposition 72

Security Ownership

Security Ownership 74 Certain Beneficial Owners and Management 74 Questions and Answers About the Annual Meeting and Voting 76 General Information 79 Information Available Online 79 Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to Be Held on May 2, 2024 79 Voting Instructions and Information 79 Shareholder Proposals for the 2025 Annual Meeting 80 Director Nominations for the 2025 Annual Meeting 81

Forward-Looking Statements

Forward-Looking Statements 82 ANNEX A: Reconciliations to GAAP 83 Table of Contents 2024 Proxy Statement 3 Company Highlights About Occidental Occidental's principal businesses consist of three segments: oil and gas, chemical and midstream and marketing. The oil and gas segment explores for, develops and produces oil (including condensate), natural gas liquids (NGL) and natural gas. The chemical segment (OxyChem) primarily manufactures and markets basic chemicals and vinyls. The midstream and marketing segment purchases, markets, gathers, processes, transports and stores oil, NGL, natural gas, CO 2 and power. It also optimizes its transportation and storage capacity, and invests in entities that conduct similar activities, such as Western Midstream Partners, L.P. Within the midstream and marketing segment, the Oxy Low Carbon Ventures (OLCV) business seeks to leverage Occidental's legacy of carbon management expertise to develop Carbon Capture, Utilization and Storage (CCUS) projects, including the commercialization of DAC technology, and invests in other low-carbon technologies intended to reduce greenhouse gas (GHG) emissions from its operations and strategically partner with other industries to help reduce their emissions. We conduct operations internationally, with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ Basins, and offshore Gulf of Mexico. We are regarded as a premier partner in Oman, the United Arab Emirates and Algeria. 2023 Performance Highlights For information regarding the relationship between our performance highlights and the executive compensation program, please see "Compensation Discussion and Analysis," beginning on page 35 . Operations Financial Achieved record well productivity rates in the Delaware, DJ and Midland Basins Al Hosn expansion safely completed, deliverin

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