BP 2014 Annual Report Download - page 131

9. Earnings per ordinary share – continued
Shares thousand
2014 2013 2012
Basic weighted average number of ordinary shares 18,385,458 18,931,021 19,027,929
Potential dilutive effect of ordinary shares issuable under employee share-based payment plans 111,836 115,152 129,959
18,497,294 19,046,173 19,157,888
The number of ordinary shares outstanding at 31 December 2014, excluding treasury shares, and including certain shares that will be issuable in the
future under employee share-based payment plans was 18,199,882,744. Between 31 December 2014 and 17 February 2015, the latest practicable
date before the completion of these financial statements, there was a net decrease of 24,096,712 in the number of ordinary shares outstanding as a
result of share issues in relation to employee share-based payment plans. During the same period, no further shares were repurchased following the
continuation of share buybacks announced on 29 April 2014.
Employee share-based payment plans
The group operates share and share option plans for directors and certain employees to obtain ordinary shares and ADSs in the company. Information
on these plans for directors is shown in the Directors remuneration report on pages 72–88.
The following table shows the number of shares potentially issuable under equity-settled employee share option plans, including the number of options
outstanding, the number of options exercisable at the end of each year, and the corresponding weighted-average exercise prices. The dilutive effect of
these plans at 31 December included in the diluted earnings per share is also shown.
Share options 2014 2013
Number of
optionsab
thousand
Weighted
average
exercise
price $
Number of
optionsab
thousand
Weighted
average
exercise
price $
Outstanding 113,206 9.62 286,725 7.71
Exercisable 86,211 10.89 127,290 10.01
Dilutive effect 5,570 n/a 23,169 n/a
aNumbers of options shown are ordinary share equivalents (one ADS is equivalent to six ordinary shares).
bAt 31 December 2014 the quoted market price of one BP ordinary share was $6.35 (2013 $8.10).
In addition, the group operates a number of equity-settled employee share plans under which share units are granted to the group’s senior leaders and
certain other employees. These plans typically have a three-year performance or restricted period during which the units accrue net notional dividends
which are treated as having been reinvested. Leaving employment will normally preclude the conversion of units into shares, but special arrangements
apply for participants that leave for qualifying reasons. The number of shares that are expected to vest each year under employee share plans are
shown in the table below. The dilutive effect of the employee share plans at 31 December included in the diluted earnings per share is also shown.
Share plans 2014 2013
Vesting
Number of
sharesa
thousand
Number of
sharesa
thousand
Within one year 78,467 35,442
1 to 2 years 91,993 120,056
2 to 3 years 80,966 115,387
3 to 4 years 28,564 14,231
4 to 5 years 222 123
280,212 285,239
Dilutive effect 99,917 95,014
aNumbers of shares shown are ordinary share equivalents (one ADS is equivalent to six ordinary shares).
There has been a net increase of 31,318,880 in the number of potential ordinary shares in relation with employee share-based payment plans between
31 December 2014 and 17 February 2015.
Financial statements
BP Annual Report and Form 20-F 2014 127