BP 2008 Annual Report Download - page 91

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a
c
BP Annual Report and Accounts 2008
Additional information for shareholders
Share ownership
Directors and senior management
As at 18 February 2009, the following directors of BP p.l.c. held interests in BP ordinary shares of 25 cents each or their calculated equivalent as set
out below:
I C Conn 279,937 1,815,940a266,904c
Dr B E Grote 1,261,664 2,066,316a–
Dr A B Hayward 527,607 2,734,170a–
A G Inglis 255,424 1,759,435ab 266,904c
A Burgmans 10,000 – –
C B Carroll ––
Sir William Castell 82,500 – –
G David 9,000 – –
E B Davis, Jr 73,185 – –
D J Flint 15,000 – –
Dr D S Julius 15,000 – –
Sir Tom McKillop 20,000 – –
Sir Ian Prosser 16,301 – –
P D Sutherland 30,906 – –
Performance shares awarded under the BP Executive Directors Incentive Plan. These figures represent the maximum possible vesting levels. The actual number of shares/ADSs that vest will depend on
the extent to which performance conditions have been satisfied over a three-year period.
bAlso includes 325,750 performance shares awarded under the BP Medium Term Performance Plan, which represents the maximum possible vesting level. The actual number of shares that vest will
depend on the extent to which performance conditions have been satisfied over a three-year period.
Restricted share award under the BP Executive Directors Incentive Plan. These shares will vest in two equal tranches after three and five years, subject to the directors’ continued service and
satisfactory performance.
As at 18 February 2009, the following directors of BP p.l.c. held options under the BP group share option schemes for ordinary shares or their
calculated equivalent as set out below:
I C Conn 205,551
Dr B E Grote 1,186,098
Dr A B Hayward 769,620
A G Inglis 410,750
There are no directors or members of senior management who own more than 1% of the ordinary shares outstanding. At 18 February 2009, all
directors and senior management as a group held interests in 4,308,712 ordinary shares or their calculated equivalent, 11,163,994 performance
shares or their calculated equivalent and 3,281,964 options for ordinary shares or their calculated equivalent under the BP group share options
schemes.
Additional details regarding the options granted and performance shares awarded can be found in the directors’ remuneration report on
pages 83 and 84.
Employee share plans
The following table shows employee share options granted.
options thousands
2008 2007 2006
Employee share options granted during the yeara8,063 6,004 53,977
aFor the options outstanding at 31 December 2008, the exercise price ranges and weighted average remaining contractual lives are shown in Financial statements – Note 41 on page 168.
BP offers most of its employees the opportunity to acquire a
shareholding in the company through savings-related and/or matching
share plan arrangements. BP also uses long-term performance plans
(see Financial statements – Note 41 on page 168) and the granting of
share options as elements of remuneration for executive directors and
senior employees.
Shares acquired through the company’s employee share plans
rank pari passu with shares in issue and have no special rights, save as
described below. For legal and practical reasons, the rules of these plans
set out the consequences of a change of control of the company, and
generally provide for options and conditional awards to vest on an
accelerated basis.
Savings and matching plans
BP ShareSave Plan
This is a savings-related share option plan, under which employees save
on a monthly basis over a three-year or five-year period towards the
purchase of shares at a fixed price determined when the option is
granted. This price is usually set at a 20% discount to the market price at
the time of grant. The option must be exercised within six months of
maturity of the savings contract otherwise it lapses. The plan is run in
the UK and options are granted annually, usually in June. Participants
leaving for a qualifying reason will have six months in which to use their
savings to exercise their options on a pro rated basis.
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