OCCIDENTAL PETROLEUM CORP /DE/ — Director's Dealing 2022

Mar 11, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OCCIDENTAL PETROLEUM CORP /DE/ (OXY)
CIK: 0000797468
Period of Report: 2022-03-09

Reporting Person: BERKSHIRE HATHAWAY INC (10% Owner)
Reporting Person: BUFFETT WARREN E (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-03-09	Common Stock	P	336175	$51.4374	Acquired	91499170	Indirect
2022-03-09	Common Stock	P	991165	$52.8325	Acquired	92490335	Indirect
2022-03-09	Common Stock	P	436419	$54.783	Acquired	92926754	Indirect
2022-03-09	Common Stock	P	4968927	$55.7463	Acquired	97895681	Indirect
2022-03-09	Common Stock	P	7304139	$56.4579	Acquired	105199820	Indirect
2022-03-09	Common Stock	P	9753917	$57.3758	Acquired	114953737	Indirect
2022-03-09	Common Stock	P	345332	$58.2713	Acquired	115299069	Indirect
2022-03-10	Common Stock	P	542256	$57.5353	Acquired	115841325	Indirect
2022-03-10	Common Stock	P	123042	$58.4456	Acquired	115964367	Indirect
2022-03-11	Common Stock	P	1126783	$57.5122	Acquired	117091150	Indirect
2022-03-11	Common Stock	P	1179234	$57.8943	Acquired	118270384	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Series A Preferred Stock	100000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrants to Purchase Shares of Common Stock	$59.624		Common Stock (83858848.81)	83858848.81	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $51.0300 to $52.0000. The Reporting Persons undertake to provide Occidental Petroleum Corporation ("Occidental"), any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 1 to this Form 4.

F2: The shares of the issuer's common stock reported on this form are held by Berkshire Hathaway Inc. ("Berkshire") indirectly through the following Berkshire subsidiaries: Berkshire Hathaway Life Insurance Company of Nebraska (10,363,000), Berkshire Hathaway Specialty Insurance Company (4,729,000), Columbia Insurance Company (13,099,700), Mount Vernon Fire Insurance Company (2,364,500), National Fire & Marine Insurance Company (6,441,650), United States Liability Insurance Company (2,364,500), GEICO Advantage Insurance Company (4,070,000), GEICO Choice Insurance Company (1,829,000), GEICO Marine Insurance Company (245,000), GEICO Secure Insurance Company (2,000,000), National Indemnity Company (54,758,234), Medical Protective Company (6,945,000), Berkshire Hathaway Homestate Insurance Company (4,402,000), Redwood Fire & Casualty Insurance Company (2,918,000), MLMIC Insurance Company (1,328,000), Old United Casualty Company (342,000), and U.S. Underwriters Insurance Company (70,800).

F3: As Berkshire is in the chain of ownership of each subsidiary listed, it may be deemed presently to both beneficially own and have a pecuniary interest in all shares and derivative securities, as applicable, presently directly owned by such subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the shares and derivative securities, as applicable, presently owned by each of these subsidiaries. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. In addition, in order to avoid double counting, all shares and derivative securities, as applicable, reported as being owned by each subsidiary listed only reflect shares or derivative securities, as applicable, that are owned directly by such subsidiary, (Continued on footnote 4)

F4: and do not reflect any shares that such subsidiary may be deemed to beneficially own by virtue of ownership or control of any other subsidiary otherwise reported on this form.

F5: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $52.0400 to $53.0000. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 4 to this Form 4.

F6: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $54.1250 to $55.0250. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 5 to this Form 4.

F7: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $55.0300 to $56.0250. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 6 to this Form 4.

F8: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $56.0300 to $57.0275. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 7 to this Form 4.

F9: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $57.0300 to $58.0200. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 8 to this Form 4.

F10: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $58.0300 to $58.5800. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 9 to this Form 4.

F11: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $57.3100 to $58.3000. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 10 to this Form 4.

F12: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $58.3100 to $58.5000. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 11 to this Form 4.

F13: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $56.7400 to $57.7350. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 11 to this Form 4.

F14: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $57.7400 to $57.9950. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 11 to this Form 4.

F15: The shares of the issuer's preferred stock reported on this form were issued on August 8, 2019 and are held by Berkshire indirectly through the following Berkshire subsidiaries: Berkshire Hathaway Life Insurance Company of Nebraska (3,600), Berkshire Hathaway Specialty Insurance Company (2,000), Columbia Insurance Company (12,650), Government Employees Insurance Company (32,500), GEICO Indemnity Company (10,000), GEICO Casualty Company (3,900), BHG Life Insurance Company (7,000), National Indemnity Company (16,700), General Reinsurance Corporation (4,119), Gen Re Life Corporation (2,331), General Star Indemnity Company (300), Medical Protective Company (3,000), Princeton Insurance Company (150), AmGUARD Insurance Company (250), NorGUARD Insurance Company (300), EastGUARD Insurance Company (100), WestGUARD Insurance Company (100), and Berkshire Hathaway Assurance Corporation (1,000).

F16: The warrants contain provisions that adjust the exercise price and the number of shares of the issuer's common stock issuable on exercise upon the occurrence of certain events. As such, the exercise price and the number of shares of the issuer's common stock issuable on exercise as reported on this form are subject to change upon the occurrence of future events in accordance with the terms of the warrants. The warrants were initially for 80,000,000 shares with an initial exercise price of $62.50 per share. On June 26, 2020, the issuer's board of directors declared a distribution to its common shareholders of warrants to purchase additional shares of common stock, which distribution resulted in an anti-dilution adjustment to the warrants, which lowered the exercise price to $59.624 and increased the number of shares issuable on exercise of the warrants to 83,858,848.81.

F17: The warrants were issued on August 8, 2019 and are exercisable at the applicable holder's option, in whole or in part, until the first anniversary of the date on which no shares of the issuer's series A preferred stock remain outstanding, at which time the warrants expire.

F18: The warrants to purchase the issuer's common stock reported on this form are held by Berkshire indirectly through the following Berkshire subsidiaries: Berkshire Hathaway Life Insurance Company of Nebraska (3,018,918.56), Berkshire Hathaway Specialty Insurance Company (1,677,176.98), Columbia Insurance Company (10,608,144.37), Government Employees Insurance Company (27,254,125.86), GEICO Indemnity Company (8,385,884.88), GEICO Casualty Company (3,270,495.10), BHG Life Insurance Company (5,870,119.42), and National Indemnity Company (23,773,983.64).