BP 2009 Annual Report Download - page 90

88
BP Annual Report and Accounts 2009
Directors’ remuneration report
Performance share element of EDIPa
Share element interests Interests vested in 2009 and 2010
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 £ 2009 2009 2009 vestedcdate £
Dr A B Hayward 2006-2008 16 Feb 2006 6.54 383,200 – – 66,136 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 706,311 – 706,311 147,985 3 Feb 2010 5.76
2008-2010 13 Feb 2008 5.61 845,319 – 845,319 – – –
2009-2011 11 Feb 2009 5.10 – 1,182,540 1,182,540 – – –
I C Conn 2006-2008 16 Feb 2006 6.54 383,200 – – 66,136 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 456,748 – 456,748 95,697 3 Feb 2010 5.76
2008-2010 13 Feb 2008 5.61 578,376 – 578,376 – – –
2008-2011d13 Feb 2008 5.61 133,452 – 133,452 – – –
2008-2013d13 Feb 2008 5.61 133,452 – 133,452 – – –
2009-2011 11 Feb 2009 5.10 – 780,816 780,816 – – –
R W Dudleye2009-2011 6 May 2009 5.00 – 539,634 539,634 – – –
Dr B E Grotee2006-2008 16 Feb 2006 6.54 470,432 – – 80,231 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 491,640 – 491,640 101,502 3 Feb 2010 5.76
2008-2010 13 Feb 2008 5.61 581,748 – 581,748 – – –
2009-2011 11 Feb 2009 5.10 – 992,928 992,928 – – –
A G Inglis 2006-2008 27 Mar 2006 6.59 325,750 – – 54,994 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 400,243 – 400,243 83,859 3 Feb 2010 5.76
2008-2010 13 Feb 2008 5.61 578,376 – 578,376 – – –
2008-2011d13 Feb 2008 5.61 133,452 – 133,452 – – –
2008-2013d13 Feb 2008 5.61 133,452 – 133,452 – – –
2009-2011 11 Feb 2009 5.10 – 780,816 780,816 – – –
Former directors
Dr D C Allen 2006-2008 16 Feb 2006 6.54 383,200 – – 34,518 6 Feb 2009 5.08
2007-2009 06 Mar 2007 5.12 456,748 – 456,748 47,848 3 Feb 2010 5.76
aThis information is subject to audit.
bBP’s performance is measured against the oil sector. For awards under the 2006-2008 through 2008-2010 plans, the performance condition is TSR measured against ExxonMobil, Shell, Total and Chevron.
For awards under the 2009-2011 plan, performance conditions are measured 50% on TSR against ExxonMobil, Shell, Total, ConocoPhillips and Chevron and 50% on a balanced scorecard of underlying
performance. 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 and Mr Dudley receive awards in the form of ADSs. The above numbers reflect calculated equivalents in ordinary shares.