Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On March 17, 2022, the Board of Directors (the "Board") of Occidental Petroleum
Corporation ("Occidental") increased the size of the Board from nine to ten
directors in order to elect Vicky A. Bailey, the President of Anderson Stratton
International, LLC ("ASI") and a former equity partner of BHMM Energy Services,
LLC, to the Board effective as of March 22, 2022.
Before serving as the President of ASI, Ms. Bailey was a partner with Bennett
Johnston & Associates, LLC, a public relations firm in Washington, D.C. ("BJA"),
from March 2004 through October 2006. Prior to joining BJA, Ms. Bailey served as
Assistant Secretary for the Offices of Policy and International Affairs of the
U.S. Department of Energy from 2001 through February 2004. From February 2000
until May 2001, she was President and a director of PSI Energy, Inc. ("PSI
Energy"), the Indiana electric utility subsidiary of Cinergy Corp. Prior to
joining PSI Energy, Ms. Bailey was a Commissioner on the Federal Energy
Regulatory Commission from 1993 to 2000 and a Commissioner of the Indiana
Utility Regulatory Commission from 1986 to 1993. She currently serves on the
board of directors of Cheniere Energy, Inc., a publicly-traded energy company,
Equitrans Midstream Corporation, a publicly-traded natural gas midstream
company, PNM Resources, Inc., a publicly-traded energy holding company, and
Battelle Memorial Institute, a private nonprofit applied science, technology and
research organization that has a management role at several of the U.S. national
laboratories. Ms. Bailey has a Bachelor of Science in Industrial Management from
the Krannert School of Management at Purdue University and completed the
Advanced Management Program at the Wharton School of the University of
Pennsylvania.
There are no arrangements or understandings between Ms. Bailey and any other
persons pursuant to which she was selected as a director. Pursuant to
Occidental's compensation program for non-employee directors, Ms. Bailey will be
entitled to receive (i) a pro rata portion of the 2021-2022 common stock equity
award granted to non-employee directors and (ii) a pro rata portion of the
2021-2022 retainer paid to non-employee directors.
Item 7.01 Regulation FD Disclosure.
On March 23, 2022, Occidental issued a press release with respect to Ms.
Bailey's election to the Board. The press release, furnished as Exhibit 99.1
hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, nor shall it be deemed incorporated by
reference in any filing under the Securities Act of 1933, as amended, except as
shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release dated March 23, 2022.
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