Occidental General Counsel Marcia Backus to retire; transition through mid-2024

OCCIDENTAL PETROLEUM CORP /DE/

Backus departs as SVP, GC & CCO on Dec 31, 2022; becomes Exec Adviser–Legal until Mar 1, 2023.
Will provide consulting services from Mar 1, 2023 through June 30, 2024.
Monthly payment of $131,250 from Jan 1, 2023 to June 30, 2024 ($23.625M total).
Accelerated vesting of time-based equity; continued vesting of performance-based equity awards.
No annual bonus or equity compensation for fiscal years 2023 and 2024.

item 5.02

Executive movements

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Role change

Marcia E. Backus

Executive Adviser – Legal

OXY · OCCIDENTAL PETROLEUM CORP /DE/

Effective: 2023-01-01
Filed: September 30, 2022, 7:59 PM ET

On September 29, 2022, Marcia E. Backus announced that she will step down from her role as Senior Vice President, General Counsel and Chief Compliance Officer of Occidental Petroleum Corporation (“Occidental” or the “Company”) effective as of December 31, 2022. Thereafter, Ms. Backus will continue to serve as Occidental’s Executive Adviser – Legal and will retire from employment with the Company effective as of March 1, 2023.

Departed

Marcia E. Backus

Executive Adviser – Legal

OXY · OCCIDENTAL PETROLEUM CORP /DE/

Effective: 2023-03-01
Filed: September 30, 2022, 7:59 PM ET

Thereafter, Ms. Backus will continue to serve as Occidental’s Executive Adviser – Legal and will retire from employment with the Company effective as of March 1, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Marcia E. Backus changed role as Executive Adviser – Legal at OCCIDENTAL PETROLEUM CORP /DE/.

Action: stepped down as Senior Vice President, General Counsel and Chief Compliance Officer and will serve as Executive Adviser – Legal
Role: Executive Adviser – Legal

Exact text from the filing

On September 29, 2022, Marcia E. Backus announced that she will step down from her role as Senior Vice President, General Counsel and Chief Compliance Officer of Occidental Petroleum Corporation (“Occidental” or the “Company”) effective as of December 31, 2022. Thereafter, Ms. Backus will continue to serve as Occidental’s Executive Adviser – Legal and will retire from employment with the Company effective as of March 1, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Marcia E. Backus departed as Executive Adviser – Legal at OCCIDENTAL PETROLEUM CORP /DE/.

Action: will retire from employment
Role: Executive Adviser – Legal

Exact text from the filing

Thereafter, Ms. Backus will continue to serve as Occidental’s Executive Adviser – Legal and will retire from employment with the Company effective as of March 1, 2023.

View on SEC.gov

OCCIDENTAL PETROLEUM CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001140361-22-035495

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