As the Chief Executive Officer and Chairman at Occidental Petroleum, Ray Irani earned a total compensation of $31,401,356 in 2009, which decreased by 48.07% compared to 2008.

Of this total, $1,170,000 was earned as salary, $1,200,000 was received as a bonus, $24,758,827 was awarded as stock, $2,552,550 was awarded from non-equity incentive plan, and $1,719,979 came from all other compensation.

The maximum number of Occidental stock and share equivalents that can be issued under the TSRI award is 674,260 shares which, using $66.74, the closing price of Occidental common stock on the New York Stock Exchange on the grant date, would have a value of approximately $45 million.

The Other amount includes $14,700 credited pursuant to the Occidental Petroleum Corporation Savings Plan; $626,160 credited pursuant to the Occidental Petroleum Corporation Supplemental Retirement Plan II described on page 32; $119,616 for life insurance premiums; and $959,503 in the aggregate for personal benefits. Personal benefits include security services ($568,396) and tax preparation and financial planning services ($391,107).

Ray Irani worked with R. Casey Olson, William Albrecht, Donald de Brier, and Stephen Chazen at Occidental Petroleum in 2009.

Compensation Data Fiscal 2009 Ends: Dec 31
  • Salary$1,170,000
  • Bonus$1,200,000
  • Stock Awards$24,758,827
  • Non-Equity Incentive$2,552,550
  • Other$1,719,979
  • Total$31,401,356
Occidental Petroleum
Oil & Gas Exploration and Production