Thread regarding Occidental Petroleum Corp. layoffs

LTI thread

Did you receive an LTI this week? How does it compare to last year’s?

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Post ID: @OP+19zJe4iV

34 replies (most recent on top)

@5nep+19zJe4iV

It wasn’t laws against employees talking about it. It was the question about legality of management threatening employees to keep them from discussing LTI with their coworkers. As in “ if I find out you are discussing your LTI with your coworkers you will not get it next year”.

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Post ID: @6qik+19zJe4iV

@4eie+19zJe4iV,

Some exec compensation programs have disclosure statements but I have not seen this as a norm for anything below an executive level. If you are at a publicly traded co, there are also specific SEC disclosures that have to be made public for your exec team.

As for laws regarding taking about your comp... nope there isn't a law. However, HR doesn't want to be bombarded with 'Jack makes more than me yet I have more experience.'

Only collusion brings those numbers closer... but some times that can hinder the higher paid just as much as help the under paid.

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Post ID: @5nep+19zJe4iV

Heard of some companies who specifically request that employees not tell other employees what the dollar amount of their bonuses and LTI were. I don’t know why you would but some people like to brag. Sometimes they were threatened to be removed from the program if they talk. Anyone know if this is illegal?

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Post ID: @4eie+19zJe4iV

No. Best part is my bonus target was lowered too!

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Post ID: @4tss+19zJe4iV

They are hoping that you won’t notice if you don’t get the LTI because it is a difficult conversation. When in doubt just ask. Keeping yourself guessing just makes matters worse.

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Post ID: @3drn+19zJe4iV

Our bonus was obvious at 50%. Managers should tell us if we got LTI.

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Post ID: @3hep+19zJe4iV

Managers were supposed to tell employees their bonus and LTI but in typical OXY fashion, most did not. You just have to wait and see what shows up in your bank account or Morgan Stanley.

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Post ID: @3xbv+19zJe4iV

If you can’t keep track of what’s going on or have a good understanding of what’s in your account, I don’t feel that you should be in the target pool for LTI anyway. It was extraordinarily public about what the terms of the acquisition were. For every share of APC that you had, you received $59 in cash and .2934 Oxy shares. Cash and shares subject to same vesting schedule as they were previously. The LTI is meant to incentivize employees to stay on for extended periods due to the vesting schedule. Having someone say that Oxy should get rid of it just because you are too dumb to understand it or that it’s difficult to keep track of is just an insult.

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Post ID: @3pdz+19zJe4iV

How have people been notified about LTI awards?

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Post ID: @2pem+19zJe4iV

Larger for me. Someone else who received LTI for the last few years didn’t get one.

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Post ID: @2gpg+19zJe4iV

LTI is such a hassle keeping track of all the details. They should just get rid of it.

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Post ID: @2szq+19zJe4iV

So those are dollars and not shares? I can't keep track!

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Post ID: @2qla+19zJe4iV

About 72% of our APC LTI was converted to cash that continued to vest on the same schedule. The other 28% was converted to Oxy stock.

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Post ID: @2brw+19zJe4iV

On the Morgan Stanley site it’s says I have a large number of shares that will best on March 12. The “cash plan”. Anyone know what this is?

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Post ID: @2tbx+19zJe4iV

I didn’t have any lost time incidents last week but we aren’t off to a great start to the year in the GOM. I think it’s putting our leadership under pressure. Can’t let KD down.

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Post ID: @2ebv+19zJe4iV

Mine was much lower than last years.

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Post ID: @2bsp+19zJe4iV

Mine Is decent and I am grateful for it a s you all should be.

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Post ID: @2vhj+19zJe4iV

Got mine this morning and it was humungous!

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Post ID: @1uaz+19zJe4iV

Not as good as previous years but I’m happy the company stepped up and did something on both the bonus and LTI fronts.

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Post ID: @1jxg+19zJe4iV

Fishing for info. No LTI. Lies below.

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Post ID: @1zpe+19zJe4iV

I’m an employee and a shareholder. I loaded up on OXY stock when it was $10.00 share. It’s now around $27.50. So as a shareholder I’m good!

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Post ID: @1gme+19zJe4iV

Anyone who has to communicate with other employees through this page and takes it seriously is living in a fantasy land.

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Post ID: @1pch+19zJe4iV

This page is for employees. GTFO.

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Post ID: @1nly+19zJe4iV

So what about taking care of the shareholders? Employees are needed but can be replaced.

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Post ID: @1zsa+19zJe4iV

How many shares given to 23, 24, 25,and 26 grade?

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Post ID: @1kwy+19zJe4iV

Yes. Lower but close to last year

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Post ID: @1sgf+19zJe4iV

Cheer up. Even if there is no LTI you still get the LTI from the last three years that has vested. That is a good deal considering the state of things.

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Post ID: @zup+19zJe4iV

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