BP 2008 Annual Report Download - page 84

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BP Annual Report and Accounts 2008
Directors’ remuneration report
Share element of EDIPa
Share element interests Interests vested in 2008 and 2009
Market price Potential maximum performance sharesb
of each share
Date of at date of award Number of Market price
award of of performance ordinary of each share
Performance performance shares At 1 Jan Awarded At 31 Dec shares Vesting at vesting
period shares £ 2008 2008 2008 vestedc date £
Dr A B Hayward 2005-2007 28 Apr 2005 5.33 436,623 – – 0 n/a n/a
2006-2008 16 Feb 2006 6.54 383,200 – 383,200 66,136 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 706,311 – 706,311 – – –
2008-2010 13 Feb 2008 5.61 – 845,319 845,319 – – –
I C Conn 2005-2007 28 Apr 2005 5.33 415,832 – – 0 n/a n/a
2006-2008 16 Feb 2006 6.54 383,200 – 383,200 66,136 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 456,748 – 456,748 – – –
2008-2010 13 Feb 2008 5.61 – 578,376 578,376 – – –
2008-2011d 13 Feb 2008 5.61 – 133,452 133,452 – – –
2008-2013d 13 Feb 2008 5.61 – 133,452 133,452 – – –
Dr B E Grotee 2005-2007 28 Apr 2005 5.33 501,782 – – 0 n/a n/a
2006-2008 16 Feb 2006 6.54 470,432 – 470,432 80,231 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 491,640 – 491,640 – – –
2008-2010 13 Feb 2008 5.61 – 581,748 581,748 – – –
A G Inglis 2005-2007 8 Mar 2005 5.70 209,000 – – 0 n/a n/a
2006-2008 27 Mar 2006 6.59 325,750 – 325,750 54,994 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 400,243 – 400,243 – – –
2008-2010 13 Feb 2008 5.61 – 578,376 578,376 – – –
2008-2011d 13 Feb 2008 5.61 – 133,452 133,452 – – –
2008-2013d 13 Feb 2008 5.61 – 133,452 133,452 – – –
Directors leaving the board in 2008
Dr D C Allen 2005-2007 28 Apr 2005 5.33 436,623 – – 0 n/a n/a
2006-2008 16 Feb 2006 6.54 383,200 – 383,200 34,518 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 456,748 – 456,748 – – –
Former directors
Lord Browne 2005-2007 28 Apr 2005 5.33 2,006,767 – – 90,232 6 Feb 2008 5.45
2006-2008 16 Feb 2006 6.54 1,761,249 – 1,761,249 0 n/a n/a
J A Manzoni 2005-2007 28 Apr 2005 5.33 436,623 – – 0 n/a n/a
2006-2008 16 Feb 2006 6.54 383,200 – 383,200 0 n/a n/a
aThis information has been subject to audit. Includes equivalent plans in which the individual participated prior to joining the board.
bBP’s performance is measured against the oil sector. For the 2005-2007 and subsequent awards, the performance condition is TSR measured against ExxonMobil, Shell, Total and Chevron.
Each performance period ends on 31 December of the third year.
cRepresents awards of shares made at the end of the relevant performance period based on performance achieved under rules of the plan and includes reinvested dividends on the shares awarded.
dRestricted award under share element of EDIP. As reported in the 2007 directors’ remuneration report in February 2008, the committee awarded both Mr Inglis and Mr Conn restricted shares,
as set out above.
These one-off awards will vest on the third and fifth anniversary of the award, dependent on the remuneration committee being satisfied as to their personal performance at the date of vesting.
Any unvested tranche will lapse in the event of cessation of employment with the company.
eDr Grote receives awards in the form of ADSs. The above numbers reflect calculated equivalents in ordinary shares.
Directors remuneration report
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