Form 4: Occidental Petroleum Director Jack B. Moore Reports Stock Award and Tax Withholding

Director Jack B. Moore reports acquisition of common stock and shares withheld for tax obligations related to an award under Occidental Petroleum's incentive plan.

Summary

• On May 3, 2024, Jack B. Moore, a director of Occidental Petroleum Corporation, reported transactions involving the company's common stock.
• Moore acquired 6,679 shares of common stock through an award under the company's Amended and Restated 2015 Long-Term Incentive Plan.
• Simultaneously, 1,470 shares were withheld to satisfy tax obligations at a price of $64.39 per share.
• Following these transactions, Moore directly owns 61,052 shares of Occidental Petroleum common stock.
• This total includes 481 shares acquired through dividend reinvestment between July 2023 and April 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It reflects standard executive compensation practices and insider transactions. The stock award is a positive sign, but the tax withholding is a neutral event.

Positives

• The award of common stock to a director signals confidence in the company's future performance.
• Dividend reinvestment indicates a long-term investment strategy by the director.

Negatives

• The withholding of shares for tax obligations reduces the net increase in the director's holdings.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the holdings and transactions of company insiders.

Comparison to Industry Standards

• Stock awards are a common component of executive compensation packages in the oil and gas industry, used to align management's interests with those of shareholders.
• Companies like ExxonMobil (XOM) and Chevron (CVX) also utilize stock awards and long-term incentive plans for their executives.
• The specific terms and amounts of these awards vary based on company performance, individual contributions, and industry benchmarks.

Stakeholder Impact

• The stock award could have a slightly positive impact on shareholder sentiment, as it aligns the director's interests with those of the shareholders.
• The tax withholding has no direct impact on other stakeholders.

Key Dates