Occidental Petroleum 2008 Annual Report Download - page 8

Part II
ITEM 5 MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND
PURCHASES OF EQUITY SECURITIES
TRADING PRICE RANGE AND DIVIDENDS
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 38,791 stockholders of record at December 31, 2008, and by
approximately 410,000 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 stockholders 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.
The quarterly dividends declared on the common stock were $0.25 per share for the first quarter of 2008 and $0.32 for the last three
quarters of 2008 ($1.21 for the year). On February 5, 2009, a quarterly dividend of $0.32 per share ($1.28 on an annualized basis) was
declared on the common stock, payable on April 15, 2009 to stockholders of record on March 10, 2009. 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.
SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS
All of Occidental's equity compensation plans for its employees and non-employee directors, pursuant to which options, rights or
warrants or other equity awards 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, 2008, pursuant to outstanding options, rights or
warrants or other equity awards 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))
3,977,959 $34.94 56,641,658 *
* Includes, with respect to:
•the 1995 Incentive Stock Plan, 5,602 shares reserved for issuance pursuant to deferred stock unit awards;
•the 2001 Incentive Compensation Plan, 487,032 shares at maximum payout level (243,516 at target level) reserved for issuance
pursuant to outstanding performance stock awards, 54,800 shares reserved for issuance pursuant to restricted stock unit awards,
12,949 shares reserved for issuance pursuant to deferred stock unit awards and 834 shares reserved for issuance as dividend
equivalents on deferred stock unit awards; and
•the 2005 Long-Term Incentive Plan, 679,998 shares at maximum payout level (339,999 at target level) reserved for issuance
pursuant to outstanding performance stock awards, 378,010 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 1,400,321 shares at maximum payout level (933,547 at target level) reserved for issuance pursuant to total
shareholder return incentive awards.
Of the 52,095,360 shares that are not reserved for issuance under the 2005 Long-Term Incentive Plan, approximately 44.1 million shares
are available for issuance 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 the award. Subject to
this share count requirement, not more than the approximate 44.1 million shares may be issued or reserved for issuance for options,
rights, warrants and other forms of stock compensation.
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SHARE REPURCHASE ACTIVITIES