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Occidental Petroleum vice president exercises options

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May 1, 2008

NEW YORK—A vice president of oil company Occidental Petroleum Corp. exercised options for 30,000 shares of common stock, according to a Securities and Exchange Commission filing Wednesday.

In a Form 4 filed with the SEC, Jim A. Leonard reported exercising the options on Monday for $40.81 apiece and then selling 10,889 shares on the same day for $85.58 to $85.76 apiece. Leonard also surrendered 21,038 shares back to the company for $86.79 apiece.

Insiders can surrender shares as a way to cover either taxes or the cost of exercising options.

Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.

Occidental Petroleum is based in Los Angeles.

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