STOCK-BASED INCENTIVE PLANS (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of changes in occidental's unvested cash- and tock- settled RSUs

A summary of changes in Occidental’s unvested cash- and stock-settled RSUs for 2024 is presented below:

	Cash-Settled			Stock-Settled
thousands, except fair values	RSUs			RSUs
Unvested as of January 1	271	$	37.96	7,732	$	47.03
Granted	293	$	58.87	3,540	$	61.34
Vested	(141)	$	43.61	(3,978)	$	40.37
Forfeitures	(25)	$	57.60	(175)	$	56.58
Unvested as of December 31	398	$	50.14	7,119	$	57.63

Schedule of grant-date assumptions used in the monte carlo simulation models for the estimated payout level of TSRIs

The grant-date assumptions used in the Monte Carlo simulation models for the estimated payout level of TSRIs were as follows:

	TSRIs
	2024		2023		2022
Assumptions used:
Risk-free interest rate	4.3%		4.6%		1.7%
Volatility factor	45%		64%		80%
Expected life, years	2.83		2.84		2.89
Grant-date fair value of underlying Occidental common stock	$	61.36	$	59.71	$	42.98

Schedule of the changes of awards

A summary of changes in Occidental’s unvested TSRIs in 2024 is presented below:

	TSRIs
thousands, except fair values	Awards	Weighted-Average Grant-Date Fair Value of Occidental Stock
Unvested as of January 1	1,507		$	40.43
Granted	439		$	61.36
Vested (a)	(651)		$	25.39
Forfeitures	(44)		$	55.30
Unvested as of December 31	1,251		$	55.08

(a)Presented at the target payouts. In 2024, the weighted-average payout at vesting was 180% of the target, resulting in the issuance of approximately 1,172,000 shares of Occidental common stock.

A summary of changes in Occidental’s unvested CROCEI in 2024 is presented below:

	CROCEI
thousands, except fair values	Awards	Weighted-Average Grant-Date Fair Value of Occidental Stock
Unvested as of January 1	507		$	39.59
Granted	161		$	61.36
Vested (a)	(221)		$	25.39
Unvested as of December 31	447		$	54.55

(a)     Presented at the target payouts. In 2024, the weighted-average payout at vesting was 200% of the target, resulting in the issuance of approximately 441,000 shares of Occidental common stock.

Schedule of stock options

A summary of Occidental’s outstanding stock options as of December 31, 2024 and changes during the year ended December 31, 2024 is presented below:

	Vested			Unvested
thousands, except fair values	Options	Weighted Average Strike Price		Options	Weighted Average Strike Price
January 1	2,094	$	38.45	294	$	35.37
Vested	211	$	32.36	(211)	$	32.36
December 31	2,305	$	37.89	83	$	42.98