As the Chairman at Occidental Petroleum, Ray Irani earned a total compensation of $49,766,694 in 2011, which decreased by 34.61% compared to 2010.

Of this total, $1,300,000 was earned as salary, $1,250,000 was received as a bonus, $26,458,255 was awarded as stock, $19,058,250 was awarded from non-equity incentive plan, and $1,700,189 came from all other compensation.

The Stock Awards amount shown includes $16,058,255 attributable to the stock portion of the payout of the 2008 ROEI award. The amount shown also includes the grant date fair values of the 2011 TSR awards and RSI awards. The maximum number of Occidental stock and share equivalents that can be issued under the TSR award is 174,809 shares which, using $102.97, the closing price of Occidental common stock on the New York Stock Exchange on the grant date, would have a value of approximately $18 million. The ultimate payout value may be significantly less than the maximum and the amount shown on the table, with the possibility of no payout, depending on the outcome of the performance criteria and the value of Occidental stock on the award certification date.

The Other amount includes $14,700 credited pursuant to the Savings Plan; $660,960 credited pursuant to the Supplemental Retirement Plan II; $105,163 for life insurance premiums; and $919,366 in the aggregate for personal benefits. Personal benefits include security services ($571,779) and tax preparation and financial planning services ($347,587).

Ray Irani worked with James Lienert, Edward Lowe, William Albrecht, Donald de Brier, and Stephen Chazen at Occidental Petroleum in 2011.

Compensation Data Fiscal 2011 Ends: Dec 31
  • Salary$1,300,000
  • Bonus$1,250,000
  • Stock Awards$26,458,255
  • Non-Equity Incentive$19,058,250
  • Other$1,700,189
  • Total$49,766,694
Occidental Petroleum
Oil & Gas Exploration and Production