BP 2009 Annual Report Download - page 85

BP Annual Report and Accounts 2009
Directors’ remuneration report
Directors’ remuneration report
Summary of remuneration of executive directors in 2009a
Annual remuneration Long-term remuneration
Share element of EDIP
2006-2008 plan 2007-2009 plan 2009-2011
(vested in Feb 2009) (vested in Feb 2010) plan
Annual Non-cash benefits and Potential
Salarybperformance bonus other emoluments Total ActualcActualcmaximum
(thousand) (thousand) (thousand) (thousand) shares Valuedshares Valueeperformance
2008 2009 2008 2009 2008 2009 2008 2009 vested (thousand) vested (thousand) sharesf
Dr A B Hayward £998 £1,045 £1,496 £2,090 £15 £23 £2,509 £3,158 66,136 £336 147,985 £852 1,182,540
I C Conn £670 £690 £871 £1,104 £45 £46 £1,586 £1,840 66,136 £336 95,697 £551 780,816
R W Dudleygh n/a $750 n/a $1,125 n/a $304in/a $2,179 n/a n/a n/a n/a 539,634
Dr B E Groteg$1,340 $1,380 $1,742 $2,070 $8 $8 $3,090 $3,458 80,231 $603 101,502e$933 992,928
A G Inglis £670 £690 £1,173 £1,311 £212 £216ji £2,055 £2,217 54,994 £279 83,859 £483 780,816
Amounts shown are in the currency received by executive directors. Annual bonuses are shown in the year they were earned.
aThis information has been subject to audit.
bFigures show the total salary received during the calendar year. The last salary increase was in July 2008.
cIncludes shares representing reinvested dividends received on the shares that vested at the end of the performance period.
dBased on market price on vesting date (£5.08 per share/$45.13 per ADS).
eBased on market price on vesting date (£5.76 per share/$55.17 per ADS).
fMaximum potential shares that could vest at the end of the three-year period depending on performance.
gDr Grote and Mr Dudley hold shares in the form of ADSs. The above number reflects calculated equivalent in ordinary shares.
hReflects remuneration received by Mr Dudley since appointment as executive director on 6 April 2009.
iThis amount includes costs of London accommodation and any tax liability thereon.
jIn addition to this amount, under a tax equalization arrangement, BP discharged a US tax liability arising from the participation by Mr Inglis in the UK pension scheme amounting to $90,314.
Historical TSR performance
250
200
150
ypothetical £100 holding
100
Value of h
50
04 05 06 07 08 09
FTSE 100
BP
This graph shows the growth in value of a hypothetical £100 holding in
BP p.l.c. ordinary shares over five years, relative to the FTSE 100 Index
(of which the company is a constituent). The values of the hypothetical
£100 holdings at the end of the five-year period were £141.75 and
£134.58 respectively.
Remuneration of non-executive directors in 2009a
£ thousand
2008 2009
P D Sutherland 600 600
A Burgmans 90 93
Sir William Castell 108 115
C B Carroll 93 90
G Davidb100 118
E B Davis, Jr 105 105
D J Flint 90 85
Dr D S Julius 110 105
Sir Ian Prosser 170 165
C-H Svanbergcn/a 30
Directors leaving the board in 2009
Sir Tom McKillop 95 33
aThis information has been subject to audit.
bAlso received £4,166 for serving as a member of BP’s technology advisory committee.
cAppointed on 1 September 2009.
While fees were held at 2008 levels, in 2009 actual fees paid to
non-executive directors were affected by changes in committee
membership and the number of transatlantic meetings for which an
attendance allowance was paid.
In 2009 the chairman reviewed non-executive director
remuneration taking into account the review completed in 2008.
The chairman made a recommendation to the board (which was
agreed) to maintain the 2008 structure until a further review in 2010.
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