BP 2010 Annual Report Download - page 120

Directors’ remuneration report
Share options (information subject to audit)
Market price Date from
Option At 31 Dec Option at date of which first
type At 1 Jan 2010 Granted Exercised 2010 price exercise exercisable Expiry date
R W Dudleya BP SOP 1,800 – 1,800 – $48.94 $58.15b 28 Mar 2003 27 Mar 2010
BP SOP 6,460 – – 6,460 $49.65 23 Feb 2004 22 Feb 2011
BP SOP 1,073 – – 1,073 $43.82 17 Dec 2004 16 Dec 2011
BP SOP 17,835 – – 17,835 $48.99 18 Feb 2005 17 Feb 2012
BP SOP 17,835 – – 17,835 $38.10 17 Feb 2006 16 Feb 2013
I C Conn SAYE 1,498 – – 1,498 £4.41 £4.93d 01 Sep 2010 28 Feb 2011
SAYE 617 – – 617 £4.87 01 Sep 2011 29 Feb 2012
SAYE 605 – – 605 £4.20 01 Sep 2012 28 Feb 2013
EXEC 72,250 – – 72,250 £5.67 23 Feb 2004 23 Feb 2011
EXEC 130,000 – – 130,000 £5.72 18 Feb 2005 18 Feb 2012
Dr B E Grotea BPA 12,600 – 12,600 – $48.94 $58.40-$58.42 28 Mar 2001 27 Mar 2010
EDIP 13,173 – 13,173 – $37.76 $54.36 17 Feb 2004 17 Feb 2010
EDIP 58,333 – – 58,333 $48.53 25 Feb 2005 25 Feb 2011
Directors leaving the
board in 2010
Dr A B Hayward SAYE 3,220 – – 3,220 £5.00 01 Sep 2011 29 Feb 2012
EXEC 34,000 – – –c £5.99 n/a 15 May 2003 15 May 2010
EXEC 77,400 – – 77,400 £5.67 23 Feb 2004 23 Feb 2011
EXEC 160,000 – – 160,000 £5.72 18 Feb 2005 18 Feb 2012
EDIP 275,000 – 275,000 – £4.22 £6.31b 25 Feb 2005 25 Feb 2011
A G Inglis EXEC 72,250 – – 72,250 £5.67 23 Feb 2004 22 Feb 2011
EXEC 119,000 – – 119,000 £5.72 18 Feb 2005 17 Feb 2012
EXEC 119,000 – 119,000 – £3.88 £6.31 17 Feb 2006 16 Feb 2013
EXEC 100,500 – 100,500 – £4.22 £6.31 25 Feb 2007 24 Feb 2014
The closing market prices of an ordinary share and of an ADS on 31 December 2010 were £4.66 and $44.17 respectively.
During 2010, the highest market prices were £6.55 and $62.32 respectively and the lowest market prices were £3.03 and $27.02 respectively.
BPA = BP Amoco share option plan, which applied to US executive directors prior to the adoption of the EDIP.
EDIP = Executive Directors’ Incentive Plan adopted by shareholders in 2010 as described on page 114.
EXEC = Executive Share Option Scheme. These options were granted to the relevant individuals prior to their appointments as directors and are not subject to performance conditions.
SAYE = Save As You Earn employee share scheme.
BP SOP = BP Share Option Plan. These options were granted to Mr Dudley prior to his appointment as a director and are not subject to performance conditions.
a Numbers shown are ADSs under option. One ADS is equivalent to six ordinary shares.
b Closing market price for information. Shares were retained after exercise of options.
c Options lapsed.
d Options exercised on 22 February 2011. Closing market price for information only, as shares were retained after exercise of options.
Executive directors – external appointments
The board encourages executive directors to broaden their knowledge and
experience by taking up appointments outside the company. Each executive
director is permitted to accept one non-executive appointment, from which
they may retain any fee. External appointments are subject to agreement by
the chairman and reported to the board. Any external appointment must not
conflict with a director’s duties and commitments to BP.
During the year, the fees received by executive directors for external
appointments were as follows:
Executive director
Appointee
company
Additional position
held at appointee
company
Total
fees
I C Conn Rolls-Royce Senior
Independent
Director
£65,000
Dr B E Grote Unilever Audit committee Unilever PLC
member £33,000
Unilever NV
e47,500
A G Inglisa BAE
Systems
Chair of
Corporate
Responsibility
Committee
£49,280
a Member of BAE Systems Board until 9 July 2010.
118 BP Annual Report and Form 20-F 2010