8-K
OCCIDENTAL PETROLEUM CORP /DE/ (OXYWS)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): October 1, 2025
OCCIDENTAL PETROLEUM CORPORATION
(Exact Name of Registrant as Specified in its Charter)
| Delaware | 1-9210 | 95-4035997 |
|---|---|---|
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 5 Greenway Plaza, Suite 110<br><br> <br> <br>Houston, Texas | 77046 | |
| --- | --- | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (713) 215-7000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol(s) | Name of Each Exchange on Which<br><br> <br>Registered |
|---|---|---|
| Common Stock, $0.20 par value | OXY | New York Stock Exchange |
| Warrants to Purchase Common Stock, $0.20 par value | OXY WS | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 1, 2025, the Board of Directors (the “Board”) of Occidental Petroleum Corporation (“Occidental” or the “Company”) promoted Richard A. Jackson, 49, to Chief Operating Officer, effective immediately. He will continue serving as Senior Vice President, a position to which he was appointed in October 2020.
Mr. Jackson has over 25 years of experience in the oil and gas industry, holding a variety of technical and leadership roles. Mr. Jackson has been an employee of Occidental since 2003, and most recently served as President of Operations for U.S. Onshore Resources and Carbon Management since October 2020. Prior to that, Mr. Jackson served as President and General Manager, EOR and Oxy Low Carbon Ventures, LLC; President Low Carbon Ventures; Senior Vice President, Operation Support; Vice President, Investor Relations; and President and General Manager Permian Resources Delaware Basin. Mr. Jackson holds a Bachelor of Science degree in Petroleum Engineering from Texas A&M University.
In connection with his promotion, Mr. Jackson’s base salary was increased to $925,000 per year, and he is eligible for a target annual cash incentive award of $925,000 for 2025, each effective on or about October 1, 2025. Mr. Jackson also received a grant of restricted stock units valued at $1,500,000, which vests in equal annual installments over a three-year period subject to Mr. Jackson’s continued service through the applicable vesting dates.
Mr. Jackson does not have any family relationships with any director, executive officer or person nominated or chosen to become a director or executive officer of the Company, and there are no arrangements or understandings between him and any other person pursuant to which Mr. Jackson was appointed as an officer of the Company. There are no related party transactions involving Mr. Jackson that are reportable under Item 404(a) of Regulation S-K.
Item 7.01 Regulation FD.
On October 2, 2025, Occidental issued a press release with respect to the management change described above. 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.
| 99.1 | Press Release, dated October 2, 2025, issued by Occidental Petroleum Corporation. |
|---|---|
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
| --- | --- |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| October 3, 2025 | OCCIDENTAL PETROLEUM CORPORATION | |
|---|---|---|
| By: | /s/ Nicole E. Clark | |
| Name: | Nicole E. Clark | |
| Title: | Vice President, Chief Compliance Officer and Corporate Secretary |
Exhibit 99.1
| PRESS RELEASE |
|---|
Occidental Promotes Richard A. Jackson to Senior Vice President and Chief Operating Officer
HOUSTON — October 2, 2025 — Occidental (NYSE: OXY) announced today that its Board of Directors has promoted Richard A. Jackson to Senior Vice President and Chief Operating Officer, overseeing global oil and gas operations, low-carbon integrated technologies and the midstream and marketing and health, safety and environment functions. He will continue reporting to Vicki Hollub, President and Chief Executive Officer. Jackson was named Senior Vice President and President, U.S. Onshore Resources and Carbon Management, Operations, in 2020.
“Richard is a proven leader who has demonstrated success growing Oxy’s U.S. onshore oil and gas operations and launching Oxy’s low-carbon integrated technologies to support our CO2 and power value proposition. As COO, Richard can turn his focus toward creating additional value for Oxy’s shareholders across our global operations,” said Jack Moore, Chairman of Occidental’s Board of Directors.
“Richard is an innovative leader who is focused on getting the best out of our people and assets to deliver value every day. As we continue to transform our company while strengthening our core competencies, Richard will be able advance our significant low-cost global resource opportunity through continued operational and technology leadership,” said President and CEO Vicki Hollub.
“Oxy has a tremendous resource position and capability as we continue to advance our subsurface characterization and cost efficiencies for near- and long-term value. I appreciate the opportunity to continue to work with our teams to execute and deliver on these plans while we progress our advanced resource recovery and integrated technology value,” said Richard Jackson.
Previously, Jackson served as President and General Manager of the Permian Delaware Basin and EOR, as well as Vice President of Investor Relations and Vice President of Drilling Americas. He has also led Oxy Low Carbon Ventures from its inception, advancing leading-edge technologies, including key areas of emissions measurement, carbon utilization and sequestration, Direct Air Capture and lithium extraction.
Jackson serves on the Oil and Gas Climate Initiative’s Climate Investment Board and the American Petroleum Institute’s Upstream Committee. A graduate of Texas A&M University, he holds a Bachelor of Science in Petroleum Engineering.
About Occidental
Occidental is an international energy company with assets primarily in the United States, the Middle East and North Africa. We are one of the largest oil and gas producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of America. Our midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas, and includes our Oxy Low Carbon Ventures subsidiary, which is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions. Our chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. We are dedicated to using our global leadership in carbon management to advance a lower-carbon world. Visit Oxy.com for more information.
Contacts
| Media | Investors |
|---|---|
| Eric Moses<br><br> <br>713-497-2017<br><br> <br>eric_moses@oxy.com | R. Jordan Tanner<br><br> <br>713-552-8811<br><br> <br>investors@oxy.com |