The following is a summary of the Oxy common stock including stock awards, held by the company’s named executive officers as of February 28, 2009. Oxy has had executive stock ownership guidelines in effect since January 1, 1996. To learn more about Oxy's executive stock ownership guidelines, click here.
(1) Includes shares held through the Occidental Petroleum Corporation Savings Plan.
(2) Includes options and stock appreciation rights which will be exercisable within 60 days of February 28, 2009.
(3) Includes restricted stock unit awards and awards at target level under performance stock awards and performance-based restricted share unit awards. Until the restricted or performance period ends, as applicable, and, in the case of both types of performance awards, until the awards are certified, no shares of common stock are issued. However, grant recipients receive dividend equivalents on the restricted stock units during the restricted period and on the target share amount of performance stock awards during the performance period. Dividend equivalents on performance-based restricted share unit awards are paid at the end of the performance period on the number of shares certified.
(4) Total is the sum of the four previous columns. For a more detailed analysis, see pages 9 and 26-32 of the 2009 Proxy Statement. For information on transactions subsequent to February 28, 2009, see the Statements of Changes in Beneficial Ownership on Form 4 filed by the named individuals, which can be found in the Investor Relations, SEC filings section.
(5) Mr. Morgan retired on December 31, 2008.
EXECUTIVE STOCK OWNERSHIP GUIDELINES
Executive Ownership as of February 28, 2009
(1) Does not reflect the 10 percent salary reduction effective January 1, 2009 agreed to by each of the named executive officers.
(2) The following forms of stock ownership are counted toward satisfaction of the guidelines
- Direct stock holdings (For purposes of these guidelines shares held in a living trust or by a family partnership or corporation controlled by the officer will be deemed to be directly held unless the officer expressly disclaims beneficial ownership of such shares
- Shares held in the Occidental Petroleum Corporation Savings Plan (401K)
- Long-term stock awards, including, without limitation, restricted stock awards, restricted stock units, performance stock awards and performance stock units. Stock options and stock appreciation rights are not included.
(3) Value is based on the closing price on the New York Stock Exchange of the Common Stock as of Friday, February 27, 2009, which was $51.87.
(4) Mr. Morgan retired on December 31, 2008.