Form 4: OXY CFO Mathew Reports RSU Vesting, New Award

Occidental Petroleum's SVP & CFO, Sunil Mathew, reported the vesting of restricted stock units, associated tax withholdings, and a new RSU award.

Summary

• Sunil Mathew, SVP & CFO of Occidental Petroleum Corporation, reported transactions in the company's common stock.
• On February 28, 2026, 9,732 shares of common stock were disposed of at a price of $53.08 per share. This disposition was to satisfy tax withholding obligations upon the vesting of previously reported restricted stock units (RSUs).
• On March 1, 2026, Mathew was awarded 26,376 new Restricted Stock Units (RSUs) under the Issuer's Amended and Restated 2015 Long-Term Incentive Plan. These RSUs were acquired at a price of $0.
• Each RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting.
• The newly awarded RSUs will vest in three equal annual installments, with the first installment beginning on February 28, 2027.
• Following these reported transactions, Mathew directly beneficially owns 228,739 shares of common stock.
• Additionally, 5,061 shares are indirectly beneficially owned through the OPC Savings Plan, based on a plan statement dated February 27, 2026.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, reflecting ongoing executive commitment through long-term incentive awards, despite routine tax-related share dispositions.

Positives

• The award of 26,376 new Restricted Stock Units (RSUs) indicates continued long-term incentive for the CFO, aligning executive interests with future company performance.
• The RSU award reinforces the company's strategy to retain key management and incentivize long-term shareholder value creation.

Negatives

• The disposition of 9,732 shares to cover tax obligations, while a standard practice, results in a reduction of direct share ownership.

Future Outlook

The new RSU award, which vests in three equal annual installments beginning on February 28, 2027, signifies a continued long-term retention and incentive strategy for the Chief Financial Officer.

Industry Context

StockSavvy.ai notes that RSU awards and tax-related dispositions are standard practices for executive compensation in the energy sector, aiming to align executive incentives with long-term company performance and retain key talent.

Comparison to Industry Standards

• Executive compensation structures involving Restricted Stock Units (RSUs) are a common practice across major oil and gas companies, including peers like ExxonMobil (XOM), Chevron (CVX), and BP (BP).
• The multi-year vesting schedule for the RSU award is typical for long-term incentive plans in the industry, comparable to similar programs at these peers designed to incentivize sustained performance and executive retention.

Corporate Governance

Related Party Transactions

• The award of 26,376 Restricted Stock Units (RSUs) to Sunil Mathew, an officer of the company, constitutes a related party transaction as part of his executive compensation package.

Stakeholder Impact

• Shareholders: The RSU award aligns the CFO's long-term financial interests with the company's performance, potentially benefiting shareholders through incentivized executive performance.
• Employees: No direct impact on the broader employee base is indicated by these executive compensation transactions.

Next Steps

• The newly awarded Restricted Stock Units (RSUs) will vest in three equal annual installments beginning on February 28, 2027.

Key Dates

Recommendation

The filing details routine insider transactions related to executive compensation, specifically RSU vesting, tax withholding, and a new RSU award. These are standard operational events and do not provide new fundamental information that would warrant a change in investment recommendation. The long-term incentive structure remains in place, aligning management with shareholder interests.

Keywords

Occidental Petroleum, OXY, Sunil Mathew, Form 4, Insider Transaction, Restricted Stock Units, RSU, Executive Compensation, Share Ownership