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Buffett Warren E's Form 4/A amendment

Amended

Occidental Petroleum CorpOXY · filed Jul 19, 2022

Accession no.
0000899243-22-026302
Filed
Jul 19, 2022, 2:49 PM ET
Trade date
Jul 18, 2022
Filing delay
1 day
Rule 10b5-1 plan
Not on the form (before 2023)
Original filed
Jul 18, 2022

This filing lists 1 non-derivative transaction. It carries over 3 transactions from the original filing that it did not restate. Open-market purchases total $112.1M. It was filed 1 day after the trade.

This amendment restates part of 0000899243-22-026238 (filed Jul 18, 2022). The transactions it did not restate still count and are listed below.

Reporting owners

A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.

Reporting owners on this filing
OwnerRelationship to the company
Buffett Warren ECIK 000031509010% Owner
Berkshire Hathaway IncCIK 000106798310% Owner

Non-derivative securities (Table I)

Acquisitions and disposals of common stock and similar shares, one row per line on the filing.

Non-derivative transactions
Trade dateSecurityTransactionSharesPriceValueShares afterOwnershipFlags
Jul 18, 2022Common StockPPurchaseAcquired+242,241$59.67F2+$14,455,319.87181,684,791Indirect

Carried over from the original filing

This amendment restates only part of the original filing. The original's other transactions still stand, and the trade tables on Livermore count them under this amendment.

From 0000899243-22-026238 (filed Jul 18, 2022).

Non-derivative securities (Table I)

Non-derivative transactions carried over from 0000899243-22-026238
Trade dateSecurityTransactionSharesPriceValueShares afterOwnershipFlags
Jul 14, 2022Common StockPPurchaseAcquired+552,378$56.14F1+$31,011,881.87180,294,269Indirect
Jul 15, 2022Common StockPPurchaseAcquired+1,145,881$58.04F6+$66,505,443.59181,440,150Indirect
Jul 15, 2022Common StockPPurchaseAcquired+2,400$58.60+$140,628181,442,550Indirect

Footnotes on the original

The footnotes that the prices of these transactions refer to on the original filing.

F1

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $55.9200 to $56.2500. 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.

Referenced by the price of 1 transaction in Table I.

F6

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $57.5950 to $58.5100. 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.

Referenced by the price of 1 transaction in Table I.

Footnotes and remarks

Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.

F1

This amendment is filed to correct a clerical error and report the correct transaction date. On July 18, 2022, Berkshire Hathaway Inc. ("Berkshire") filed a Form 4 which inadvertently reported that this transaction had occurred on July 16, 2022.

F2

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $59.6300 to $59.7500. 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 2 to this Form 4.

Referenced by the price of 1 transaction in Table I.

F3

The shares of 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 (10,363,000), Berkshire Hathaway Specialty Insurance Company (4,729,000), Columbia Insurance Company (51,848,391), 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),

F4

(Continued from footnote 3) 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).

F5

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,

F6

(Continued from footnote 5) 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.

F7

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).

F8

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.

F9

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.

F10

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).

Read the full filing on SEC EDGAR (opens in a new tab)