Form 4: Occidental Petroleum Executive Reports Stock Transactions

Christopher O. Champion, VP, CAO and Controller of Occidental Petroleum, reports the acquisition and disposal of company stock related to tax obligations and a long-term incentive plan.

Summary

• Christopher O. Champion, a VP, CAO and Controller at Occidental Petroleum, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• On February 28, 2024, 3,597 shares of common stock were disposed of to cover tax withholding obligations at a price of $60.26.
• On February 29, 2024, 1,538 shares of common stock were disposed of to cover tax withholding obligations at a price of $60.61.
• On March 1, 2024, Champion acquired 11,409 shares of common stock through an award of Restricted Stock Units (RSUs) under the company's long-term incentive plan.
• These RSUs will vest in three equal annual installments starting February 28, 2025.
• As of March 1, 2024, Champion directly owns 99,805 shares of common stock and indirectly owns 2,520 shares through the OPC Savings Plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing simply reports routine stock transactions related to compensation and tax obligations. There is no indication of positive or negative performance.

Future Outlook

The RSUs will vest in three equal annual installments beginning on February 28, 2025, indicating future stock awards for the reporting person.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor management's alignment with shareholder interests.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and stock ownership.

Next Steps

• The RSUs will vest in three equal annual installments beginning on February 28, 2025.

Key Dates