BP 2014 Annual Report Download - page 88

Deferred shares (audited)a
Deferred share element interests Interests vested in 2014 and 2015
Bonus year Type
Performance
period
Date of award of
deferred shares
Potential maximum deferred shares
Number of
ordinary
shares
vested Vesting date
£
Face value
of the award
At 1 Jan
2014
Awarded
2014
At 31 Dec
2014
Awarded
2015
Bob Dudleyb2011 Comp 2012-2014 08 Mar 2012 109,206 – 109,206 – 126,444c11 Feb 2015 –
Vol 2012-2014 08 Mar 2012 109,206 – 109,206 – 126,444c11 Feb 2015 –
Mat 2012-2014 08 Mar 2012 218,412 – 218,412 – 252,894c11 Feb 2015 –
2012dComp 2013-2015 11 Feb 2013 114,690 – 114,690 – – – 521,840
Vol 2013-2015 11 Feb 2013 114,690 – 114,690 – – – 521,840
Mat 2013-2015 11 Feb 2013 229,380 – 229,380 – – – 1,043,679
2013eComp 2014-2016 12 Feb 2014 – 149,628 149,628 – – – 728,688
Mat 2014-2016 12 Feb 2014 – 149,628 149,628 – – – 728,688
2014eComp 2015-2017 11 Feb 2015 – – – 147,054 – – 655,861
Vol 2015-2017 11 Feb 2015 – – – 147,054 – – 655,861
Mat 2015-2017 11 Feb 2015 – – – 294,108 – – 1,311,722
Dr Brian Gilvary 2010 DABf2011-2013 14 Mar 2011 44,971 – – – 51,118c9 Jan 2014 –
2011 DABf2012-2014 15 Mar 2012 73,624 – 73,624 – 84,491c15 Jan 2015 –
2012dComp 2013-2015 11 Feb 2013 78,815 – 78,815 – – – 358,608
Vol 2013-2015 11 Feb 2013 78,815 – 78,815 – – – 358,608
Mat 2013-2015 11 Feb 2013 157,630 – 157,630 – – – 717,217
2013eComp 2014-2016 12 Feb 2014 – 96,653 96,653 – – – 470,700
Mat 2014-2016 12 Feb 2014 – 96,653 96,653 – – – 470,700
2014eComp 2015-2017 11 Feb 2015 – – – 88,288 – – 393,764
Vol 2015-2017 11 Feb 2015 – – – 88,288 – – 393,764
Mat 2015-2017 11 Feb 2015 – – – 176,576 – – 787,529
Former executive directors
Iain Conn 2010 Comp 2011-2013 09 Mar 2011 21,384 – – – 24,670c12 Feb 2014 –
Mat 2011-2013 09 Mar 2011 21,384 – – – 24,670c12 Feb 2014 –
2011 Comp 2012-2014 08 Mar 2012 80,652 – 80,652 – 95,196c11 Feb 2015 –
Vol 2012-2014 08 Mar 2012 80,652 – 80,652 – 95,196c11 Feb 2015 –
Mat 2012-2014 08 Mar 2012 161,304 – 161,304 – 190,393c11 Feb 2015 –
2012dComp 2013-2015 11 Feb 2013 80,648 – 80,648 – – – 366,948
Vol 2013-2015 11 Feb 2013 80,648 – 80,648 – – – 366,948
Mat 2013-2015 11 Feb 2013 161,296 – 107,531g–– –489,266
2013eComp 2014-2016 12 Feb 2014 – 100,563 100,563 – – – 489,742
Mat 2014-2016 12 Feb 2014 – 100,563 33,521g–– –163,247
Dr Byron Groteb2010 Comp 2011-2013 09 Mar 2011 26,604 – – – 30,174c12 Feb 2014 –
Vol 2011-2013 09 Mar 2011 26,604 – – – 30,174c12 Feb 2014 –
Mat 2011-2013 09 Mar 2011 44,340g–––50,292
c12 Feb 2014 –
2011 Comp 2012-2014 08 Mar 2012 91,638 – 91,638 – 106,104c11 Feb 2015 –
Vol 2012-2014 08 Mar 2012 91,638 – 91,638 – 106,104c11 Feb 2015 –
Mat 2012-2014 08 Mar 2012 91,638g–91,638
g–106,104 c11 Feb 2015 –
2012dComp 2013-2015 11 Feb 2013 97,278 – 97,278 – – – 442,615
Vol 2013-2015 11 Feb 2013 97,278 – 97,278 – – – 442,615
Mat 2013-2015 11 Feb 2013 32,424g–32,424
g– – – 147,529
Comp = Compulsory.
Vol = Voluntary.
Mat = Matching.
DAB = Deferred Annual Bonus Plan.
a Since 2010, vesting of the deferred shares has been subject to a safety and environmental sustainability hurdle, and this will continue. If the committee assesses that there has been a material
deterioration in safety and environmental performance, or there have been major incidents, either of which reveal underlying weaknesses in safety and environmental management, then it may
conclude that shares should vest only in part, or not at all. In reaching its conclusion, the committee will obtain advice from the SEEAC. There is no identified minimum vesting threshold level.
b Bob Dudley and Dr Byron Grote received awards in the form of ADSs. The above numbers reflect calculated equivalents in ordinary shares. One ADS is equivalent to six ordinary shares.
c Represents vestings 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 vested.
The market price of each share used to determine the total value at vesting on the vesting dates of 9 January 2014, 12 February 2014, 15 January 2015 and 11 February 2015 were £4.97, £4.87,
£3.93 and £4.46 respectively and for ADSs on 12 February 2014 and 11 February 2015 were $48.38 and $40.35 respectively.
d The face value has been calculated using the market price of ordinary shares on 11 February 2013 of £4.55.
e The market price at closing of ordinary shares on 12 February 2014 was £4.87 and for ADSs was $48.38 and on 11 February 2015 was £4.46 and for ADSs was $40.35. The sterling value has been
used to calculate the face value.
f Dr Brian Gilvary was granted the shares under the DAB prior to his appointment as a director. The vesting of these shares is not subject to further performance conditions and he receives deferred
shares at each scrip payment date as part of his election choice.
g All matching shares have been pro-rated to reflect actual service during the performance period and these figures have been used to calculate the face value.
BP Annual Report and Form 20-F 201484