Form 4: Occidental Petroleum SVP & CFO Sunil Mathew Reports Stock Transactions

Sunil Mathew, SVP & CFO of 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

• On February 28, 2025, Occidental Petroleum SVP & CFO Sunil Mathew had 10,567 shares of common stock withheld to cover tax obligations related to vesting restricted stock units at a price of $48.84.
• On March 1, 2025, Mathew was awarded 27,028 restricted stock units (RSUs) under the company's Amended and Restated 2015 Long-Term Incentive Plan.
• Each RSU represents the right to receive one share of Occidental Petroleum common stock upon vesting.
• The RSUs will vest in three equal annual installments starting on February 28, 2026.
• As of the report, Mathew directly owns 207,604 shares of common stock and indirectly owns 4,344 shares through the OPC Savings Plan.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but the RSU grant suggests a degree of confidence in the executive and the company's future.

Positives

• The award of 27,028 RSUs to the CFO suggests confidence in the company's future performance.

Future Outlook

The RSUs awarded will vest in three equal annual installments beginning on February 28, 2026, indicating a long-term incentive for the executive.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates transactions by a key executive at Occidental Petroleum.

Comparison to Industry Standards

• RSU grants are a common form of executive compensation in the oil and gas industry, aligning management's interests with those of shareholders.
• Companies like ExxonMobil (XOM) and Chevron (CVX) also utilize similar long-term incentive plans for their executives.

Stakeholder Impact

• The transactions reported in the Form 4 filing provide transparency to shareholders regarding the stock ownership of a key executive.
• The RSU award aligns the executive's interests with those of shareholders, incentivizing long-term value creation.

Key Dates