As the Chairman at Occidental Petroleum, Ray Irani earned a total compensation of $45,609,020 in 2012, which decreased by 8.35% compared to 2011.

Of this total, $1,300,000 was earned as salary, $1,000,000 was received as a bonus, $25,688,833 was awarded as stock, $15,798,750 was awarded from non-equity incentive plan, and $1,821,437 came from all other compensation.

The Stock Awards amount shown includes $15,288,833 attributable to the stock portion of the payout of the 2009 ROEI award. The amount shown also includes the grant date fair values of the 2012 TSR and RSI awards. The maximum number of Occidental stock and share equivalents that can be issued under the TSR award is 212,842 shares which, using $84.57, 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 $15,000 credited pursuant to the Savings Plan; $723,495 credited pursuant to the Supplemental Retirement Plan II; $98,550 for life insurance premiums; and $984,392 in the aggregate for personal benefits. Personal benefits include security service ($594,536) and tax preparation and financial planning services ($389,856).

Ray Irani worked with James Lienert, Willie W. Chiang, Edward Lowe, William Albrecht, Cynthia Walker, Donald de Brier, and Stephen Chazen at Occidental Petroleum in 2012.

Compensation Data Fiscal 2012 Ends: Dec 31
  • Salary$1,300,000
  • Bonus$1,000,000
  • Stock Awards$25,688,833
  • Non-Equity Incentive$15,798,750
  • Other$1,821,437
  • Total$45,609,020
Occidental Petroleum
Oil & Gas Exploration and Production