As the Chief Executive Officer and President at Occidental Petroleum, Stephen Chazen earned a total compensation of $31,726,776 in 2011, which decreased by 16.68% compared to 2010.

Of this total, $1,266,667 was earned as salary, $1,340,000 was received as a bonus, $18,137,049 was awarded as stock, $10,497,000 was awarded from non-equity incentive plan, and $486,060 came from all other compensation.

The Stock Awards amount shown includes $7,137,049 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 award and RSI awards. The maximum number of Occidental stock and share equivalents that can be issued under the TSR award is 194,232 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 $20 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 Occidental Petroleum Corporation Savings Plan; and $471,360 credited pursuant to the Occidental Petroleum Corporation Supplemental Retirement Plan II.

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

Compensation Data Fiscal 2011 Ends: Dec 31
  • Salary$1,266,667
  • Bonus$1,340,000
  • Stock Awards$18,137,049
  • Non-Equity Incentive$10,497,000
  • Other$486,060
  • Total$31,726,776
Occidental Petroleum
Oil & Gas Exploration and Production