Form 4: OXY SVP Simmons Reports RSU Award, Tax Withholding
Insider Transaction Report
Occidental Petroleum Senior Vice President Jeff F. Simmons reported the vesting of restricted stock units, resulting in tax-related share withholding and a new RSU award.
Summary
- Jeff F. Simmons, Senior Vice President of Occidental Petroleum Corporation, reported transactions involving company common stock.
- On February 28, 2026, 9,436 shares of common stock were withheld at a price of $53.08 per share to cover tax obligations upon the vesting of previously reported restricted stock units.
- Following this, Simmons directly owned 308,611 shares.
- On March 1, 2026, Simmons was awarded 24,115 restricted stock units (RSUs) under the company's Amended and Restated 2015 Long-Term Incentive Plan.
- These new RSUs will vest in three equal annual installments, commencing on February 28, 2027.
- After these transactions, Simmons directly holds 332,726 shares of common stock.
- Additionally, Simmons indirectly beneficially owns 4,891 shares through the OPC Savings Plan, as of February 27, 2026.
Sentiment
Score: 6
Explanation: StockSavvy.ai views this as a neutral to slightly positive event, reflecting routine executive compensation and long-term incentive alignment, with no significant immediate impact on company fundamentals.
Positives
- Jeff F. Simmons received an award of 24,115 Restricted Stock Units (RSUs), indicating continued long-term incentive alignment with company performance.
Negatives
- 9,436 shares of common stock were disposed of at $53.08 per share to satisfy tax withholding obligations, reducing direct beneficial ownership.
Future Outlook
The newly awarded 24,115 Restricted Stock Units will vest in three equal annual installments, with the first installment commencing on February 28, 2027.
Management Comments
- Shares of common stock were withheld to satisfy tax withholding obligations upon the vesting of previously reported restricted stock units (RSUs).
- Award of RSUs pursuant to the Issuer's Amended and Restated 2015 Long-Term Incentive Plan.
- Each RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting.
Industry Context
StockSavvy.ai notes that routine insider transactions, such as RSU awards and tax-related share withholdings, are common occurrences in publicly traded companies. These filings provide transparency into executive compensation and ownership, which is a standard practice across the energy sector and broader market.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Jeff F. Simmons granted a Power of Attorney to Nicole E. Clark and Brittany A. Smith to act on his behalf for SEC filings, including Forms 3, 4, and 5, and to manage his EDGAR account. | 2025-09-04 | Enhances administrative efficiency for Section 16 compliance for the reporting person. |
Stakeholder Impact
- Shareholders: Provides transparency into executive compensation and ownership, showing continued alignment of a Senior Vice President with shareholder interests through long-term equity incentives.
- Employees: Reflects the company's ongoing use of equity-based compensation plans for its executives.
Next Steps
- The newly awarded 24,115 Restricted Stock Units will vest in three equal annual installments.
- The first installment of RSU vesting is scheduled for February 28, 2027.
Key Dates
| Date | Description |
|---|---|
| 2025-09-04 | Date Power of Attorney was executed by Jeff F. Simmons. |
| 2026-02-27 | Date of plan statement for indirect beneficial ownership via OPC Savings Plan. |
| 2026-02-28 | Date of transaction where 9,436 shares were withheld for tax obligations upon RSU vesting. |
| 2026-03-01 | Date of RSU award of 24,115 units. |
| 2026-03-03 | Date the Form 4 was signed by the attorney-in-fact. |
| 2027-02-28 | First vesting date for the newly awarded 24,115 RSUs. |
Keywords
Occidental Petroleum, OXY, Jeff F. Simmons, Form 4, Insider Transaction, Restricted Stock Units, RSU, Executive Compensation, Share Withholding, Long-Term Incentive Plan
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