Form 4: Occidental Petroleum Executive Reports Stock Transactions
SEC Form 4 Filing
Robert L. Peterson, a Senior Vice President at Occidental Petroleum, reports the acquisition and disposal of company stock, including shares withheld for tax obligations and an award of restricted stock units (RSUs).
Summary
- Robert L. Peterson, a Senior Vice President at Occidental Petroleum, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On February 28, 2025, 7,991 shares of common stock were disposed of at a price of $48.84 to cover tax withholding obligations related to vesting restricted stock units (RSUs).
- On March 1, 2025, Peterson was awarded 26,209 RSUs under the company's Amended and Restated 2015 Long-Term Incentive Plan.
- These RSUs represent the contingent right to receive one share of Occidental Petroleum common stock upon vesting, which occurs in three equal annual installments starting February 28, 2026.
- As of the report, Peterson directly owns 287,910 shares of Occidental Petroleum common stock and indirectly owns 11,531 shares through the OPC Savings Plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Positives
- The award of 26,209 RSUs to a Senior Vice President suggests confidence in the company's future performance.
Future Outlook
The RSUs will vest in three equal annual installments beginning on February 28, 2026.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the trading activities of company insiders.
Comparison to Industry Standards
- Executive compensation packages often include RSUs to align management's interests with those of shareholders, a common practice among large corporations like ExxonMobil, Chevron, and Shell.
- The vesting schedule of three equal annual installments is a standard vesting arrangement.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 2015 | Amended and Restated 2015 Long-Term Incentive Plan |
| February 28, 2025 | Shares of common stock withheld to satisfy tax withholding obligations upon the vesting of previously reported restricted stock units (RSUs). |
| February 28, 2025 | Plan statement date for OPC Savings Plan. |
| March 1, 2025 | Award of RSUs pursuant to the Issuer's Amended and Restated 2015 Long-Term Incentive Plan. |
| March 4, 2025 | Date of signature for the report. |
| February 28, 2026 | First vesting date for the awarded RSUs. |
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