Subject: Re: Done buying OXY?
OXY continues to redeem the preferred.
More cash to buy OXY equity with.

Yes, I noticed that the lines of the Form 4 had a certain sort of symmetry to them. $172.5m received for this batch of preferred, $122.1m spent on the open market to buy common.
In this case it's (atypically) a shame the preferred aren't directly convertible on the issuer's option, instead of redeemable---
We're paying tax on the 10% profit on the redemptions!

Jim