Occidental Petroleum 2006 Annual Report Download - page 9

Part II
ITEM 5 MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND
PURCHASES OF EQUITY SECURITIES
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This section incorporates by reference the quarterly financial data appearing under the caption "Quarterly Financial Data (Unaudited)" after
the Notes to the Consolidated Financial Statements and the information appearing under the caption "Liquidity and Capital Resources" in the
MD&A section of this report. Occidental’s common stock was held by 41,949 stockholders of record at December 31, 2006, with an estimated
306,994 additional stockholders whose shares were held for them in street name or nominee accounts. The common stock is listed and traded
principally on the New York Stock Exchange. The quarterly financial data, which are included in this report after the Notes to the Consolidated
Financial Statements, set forth the range of trading prices for the common stock as reported on the composite tape of the New York Stock Exchange
and quarterly dividend information.
In May 2006, Occidental amended its Restated Certificate of Incorporation to increase the number of authorized shares of common stock to 1.1
billion. The par value per share remained unchanged.
On August 1, 2006, Occidental effected a two-for-one stock split in the form of a stock dividend to shareholders of record as of that date with
distribution of the shares on August 15, 2006. The total number of authorized shares of common stock authorized for issuance and associated par
value per share were unchanged by this action. All share and per-share amounts have been adjusted to reflect this stock split.
In 2006, the quarterly dividends declared for the common stock were $0.18 per share for the first two quarters of 2006 and $0.22 for the last two
quarters of 2006 ($0.80 for the year). On February 15, 2007, a quarterly dividend of $0.22 per share ($0.88 on an annualized basis) was declared
on the common stock, payable on April 15, 2007 to stockholders of record on March 9, 2007. The declaration of future cash dividends is a business
decision made by the Board of Directors from time to time, and will depend on Occidental’s financial condition and other factors deemed relevant
by the Board.
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All of Occidental's equity compensation plans for its employees and non-employee directors, pursuant to which options, rights or warrants may
be granted, have been approved by the stockholders. See Note 12 to the Consolidated Financial Statements for further information on the material
terms of these plans.
The following is a summary of the shares reserved for issuance as of December 31, 2006, pursuant to outstanding options, rights or warrants
granted under Occidental’s equity compensation plans:
(a) Number of securities to be issued upon
exercise of outstanding options, warrants
and rights
(b) Weighted-average exercise price
of outstanding options, warrants
and rights
(c) Number of securities remaining available for
future issuance under equity compensation
plans (excluding securities in column (a))
12,852,466 $32.45 31,327,693 *
* Includes, with respect to:
(a) the 1995 Incentive Stock Plan, 571,438 shares reserved for issuance pursuant to deferred stock unit awards;
(b) the 2001 Incentive Compensation Plan, 2,406,382 shares at maximum payout level (1,203,191 at target level) reserved for issuance pursuant to outstanding performance stock awards,
758,410 shares reserved for issuance pursuant to restricted stock unit awards, 2,226,172 shares reserved for issuance pursuant to deferred stock unit awards and 1,842 shares reserved for
issuance as dividend equivalents on deferred stock unit awards; and
(c) the 2005 Long-Term Incentive Plan, 396,640 shares at maximum payout level (198,320 at target level) reserved for issuance pursuant to outstanding performance stock awards, 2,392,114
shares reserved for issuance pursuant to restricted stock unit awards, 1,516,000 shares at maximum payout level (758,000 at target level) reserved for issuance pursuant to outstanding
performance-based restricted share units and 367,736 shares reserved for issuance pursuant to deferred stock unit awards.
Of the 21,894,150 shares that are not reserved for issuance under the 2005 Long-Term Incentive Plan, approximately 14.5 million shares are available after giving effect to the provision of the plan that
each award, other than options and stock appreciation rights, must be counted against the number of shares available for issuance as three shares for every one share covered by award. Subject to the
share count requirement, not more than the approximate 14.5 million shares may be issued or reserved for issuance for options, rights and warrants as well as performance stock awards, restricted
stock awards, performance restricted stock awards, stock bonuses and dividend equivalents.
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