Form 4: Occidental Legal Chief's Equity Transactions

Occidental Petroleum's SVP & Chief Legal Officer, Sylvia J. Kerrigan, reported the vesting of restricted stock units, associated tax withholdings, and a new RSU award.

Summary

• Sylvia J. Kerrigan, SVP & Chief Legal Officer of Occidental Petroleum Corp (OXY), reported transactions related to her beneficial ownership.
• On February 28, 2026, 18,304 shares of common stock were disposed of at a price of $53.08 per share to satisfy tax withholding obligations upon the vesting of previously reported restricted stock units (RSUs).
• Following this disposition, Kerrigan directly owned 130,533 shares of common stock.
• On March 1, 2026, Kerrigan was awarded 48,983 restricted stock units (RSUs) at a price of $0 per unit, pursuant to the Issuer's Amended and Restated 2015 Long-Term Incentive Plan.
• Each RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting.
• These newly awarded RSUs will vest in three equal annual installments, commencing on February 28, 2027.
• After the RSU award, Kerrigan directly owned 179,516 shares of common stock.
• Additionally, Kerrigan indirectly beneficially owned 1,656 shares of common stock through the OPC Savings Plan as of February 27, 2026.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, reflecting routine executive compensation and incentive alignment without indicating any material operational or financial changes for the company.

Positives

• The award of 48,983 restricted stock units (RSUs) demonstrates ongoing executive incentive and alignment with shareholder interests.
• The RSUs are part of a long-term incentive plan, indicating a commitment to retaining key management.

Negatives

• 18,304 shares of common stock were withheld to cover tax obligations upon RSU vesting, which is a routine disposition but reduces direct share count.

Future Outlook

The newly awarded restricted stock units are scheduled to vest in three equal annual installments, with the first installment occurring on February 28, 2027, providing a clear future vesting schedule for a significant portion of executive compensation.

Industry Context

StockSavvy.ai notes that Form 4 filings detailing executive equity transactions, such as RSU awards and tax-related dispositions, are routine disclosures in the energy sector and across publicly traded companies. These filings provide transparency into executive compensation structures and ownership stakes, which are standard practices for corporate governance.

Stakeholder Impact

• Shareholders: Provides transparency into executive compensation and ownership, aligning executive incentives with long-term company performance.
• Employees (Executive): Sylvia J. Kerrigan receives a new RSU award, reinforcing her long-term incentive and commitment to the company.

Next Steps

• The newly awarded restricted stock units will vest in three equal annual installments, beginning on February 28, 2027.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation activities, including RSU vesting, tax withholding, and a new RSU award. It does not contain new fundamental information about Occidental Petroleum's operations, financial performance, or strategic direction that would warrant a change in investment recommendation. It is a standard disclosure of insider transactions.

Keywords

Occidental Petroleum, OXY, Form 4, Insider Transaction, Restricted Stock Units, RSU, Executive Compensation, Stock Award, Beneficial Ownership