Berkshire Hathaway Inc - Jun 29, 2022 Form 4 Insider Report for OCCIDENTAL PETROLEUM CORP /DE/ (OXY)

Role
10%+ Owner
Signature
/s/ Warren E. Buffett, on behalf of himself and each other reporting person hereunder
Stock symbol
OXY
Transactions as of
Jun 29, 2022
Transactions value $
$582,449,440
Form type
4
Date filed
7/1/2022, 09:14 PM
Previous filing
Jun 27, 2022
Next filing
Jul 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OXY Common Stock Purchase $126M +2.14M +1.39% $59.08 156M Jun 29, 2022 See footnotes F1, F2, F3, F4, F5
transaction OXY Common Stock Purchase $53.1M +913K +0.59% $58.18 157M Jun 30, 2022 See footnotes F2, F3, F4, F5, F6
transaction OXY Common Stock Purchase $117M +1.99M +1.27% $58.82 159M Jun 30, 2022 See footnotes F2, F3, F4, F5, F7
transaction OXY Common Stock Purchase $119K +2K +0% $59.52 159M Jun 30, 2022 See footnotes F2, F3, F4, F5
transaction OXY Common Stock Purchase $68.6M +1.19M +0.75% $57.67 160M Jul 1, 2022 See footnotes F2, F3, F4, F5, F8
transaction OXY Common Stock Purchase $84.8M +1.45M +0.91% $58.62 161M Jul 1, 2022 See footnotes F2, F3, F4, F5, F9
transaction OXY Common Stock Purchase $67.9M +1.14M +0.71% $59.62 162M Jul 1, 2022 See footnotes F2, F3, F4, F5, F10
transaction OXY Common Stock Purchase $64.7M +1.07M +0.66% $60.37 163M Jul 1, 2022 See footnotes F2, F3, F4, F5, F11
holding OXY Series A Preferred Stock 100K Jun 29, 2022 See footnotes F4, F5, F12

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding OXY Warrants to Purchase Shares of Common Stock 83.9M Jun 29, 2022 Common Stock 83.9M $59.62 See footnotes F4, F5, F13, F14, F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $58.6800 to $59.2500. The Reporting Persons undertake to provide Occidental Petroleum Corporation ("Occidental"), any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 1 to this Form 4.
F2 The shares of the issuer's common stock reported on this form are held by Berkshire Hathaway Inc. ("Berkshire") indirectly through the following Berkshire subsidiaries: Berkshire Hathaway Life Insurance Company of Nebraska (10,363,000), Berkshire Hathaway Specialty Insurance Company (4,729,000), Columbia Insurance Company (33,558,875), Mount Vernon Fire Insurance Company (2,364,500), National Fire & Marine Insurance Company (6,441,650), United States Liability Insurance Company (2,364,500), Government Employees Insurance Company (18,102,616), GEICO Advantage Insurance Company (4,070,000), GEICO Choice Insurance Company (1,829,000), GEICO Marine Insurance Company (245,000), GEICO Secure Insurance Company (8,563,100),
F3 (Continued from footnote 2) National Indemnity Company (54,758,234), Medical Protective Company (6,945,000), Berkshire Hathaway Homestate Insurance Company (4,402,000), Redwood Fire & Casualty Insurance Company (2,918,000), MLMIC Insurance Company (1,328,000), Old United Casualty Company (342,000), and U.S. Underwriters Insurance Company (70,800).
F4 As Berkshire is in the chain of ownership of each subsidiary listed, it may be deemed presently to both beneficially own and have a pecuniary interest in all shares and derivative securities, as applicable, presently directly owned by such subsidiaries. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the shares and derivative securities, as applicable, presently owned by each of these subsidiaries. Mr. Buffett disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. In addition, in order to avoid double counting, all shares and derivative securities, as applicable, reported as being owned by each subsidiary listed only reflect shares or derivative securities, as applicable, that are owned directly by such subsidiary,
F5 (Continued from footnote 4) and do not reflect any shares that such subsidiary may be deemed to beneficially own by virtue of ownership or control of any other subsidiary otherwise reported on this form.
F6 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $57.4800 to $58.4750. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 6 to this Form 4.
F7 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $58.4800 to $59.4000. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 7 to this Form 4.
F8 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $57.0900 to $58.0850. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 8 to this Form 4.
F9 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $58.0900 to $59.0850. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 9 to this Form 4.
F10 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $59.0900 to $60.0850. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 10 to this Form 4.
F11 The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $60.0900 to $60.6650. The Reporting Persons undertake to provide Occidental, any security holder of Occidental, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote 11 to this Form 4.
F12 The shares of the issuer's preferred stock reported on this form were issued on August 8, 2019 and are held by Berkshire indirectly through the following Berkshire subsidiaries: Berkshire Hathaway Life Insurance Company of Nebraska (3,600), Berkshire Hathaway Specialty Insurance Company (2,000), Columbia Insurance Company (12,650), Government Employees Insurance Company (32,500), GEICO Indemnity Company (10,000), GEICO Casualty Company (3,900), BHG Life Insurance Company (7,000), National Indemnity Company (16,700), General Reinsurance Corporation (4,119), Gen Re Life Corporation (2,331), General Star Indemnity Company (300), Medical Protective Company (3,000), Princeton Insurance Company (150), AmGUARD Insurance Company (250), NorGUARD Insurance Company (300), EastGUARD Insurance Company (100), WestGUARD Insurance Company (100), and Berkshire Hathaway Assurance Corporation (1,000).
F13 The warrants contain provisions that adjust the exercise price and the number of shares of the issuer's common stock issuable on exercise upon the occurrence of certain events. As such, the exercise price and the number of shares of the issuer's common stock issuable on exercise as reported on this form are subject to change upon the occurrence of future events in accordance with the terms of the warrants. The warrants were initially for 80,000,000 shares with an initial exercise price of $62.50 per share. On June 26, 2020, the issuer's board of directors declared a distribution to its common shareholders of warrants to purchase additional shares of common stock, which distribution resulted in an anti-dilution adjustment to the warrants, which lowered the exercise price to $59.624 and increased the number of shares issuable on exercise of the warrants to 83,858,848.81.
F14 The warrants were issued on August 8, 2019 and are exercisable at the applicable holder's option, in whole or in part, until the first anniversary of the date on which no shares of the issuer's series A preferred stock remain outstanding, at which time the warrants expire.
F15 The warrants to purchase the issuer's common stock reported on this form are held by Berkshire indirectly through the following Berkshire subsidiaries: Berkshire Hathaway Life Insurance Company of Nebraska (3,018,918.56), Berkshire Hathaway Specialty Insurance Company (1,677,176.98), Columbia Insurance Company (10,608,144.37), Government Employees Insurance Company (27,254,125.86), GEICO Indemnity Company (8,385,884.88), GEICO Casualty Company (3,270,495.10), BHG Life Insurance Company (5,870,119.42), and National Indemnity Company (23,773,983.64).