12th Feb 2009 15:57
The Company announces that on 11 February 2009, performance share awards (the Award) were made to the following Executive Directors under the share element of the BP Executive Directors' Incentive Plan (the Plan).
Director Max number of Ordinary Shares
in the Company under Award
Dr A B Hayward 1,182,540
Mr I C Conn 780,816
Mr A.G. Inglis 780,816
Max number of ADSs under Award
Dr B E Grote 165,488
These shares pertain to the 2009-2011 performance period. The number of shares/ADSs set out above is the maximum number which may vest under the Award. The actual number of shares/ADSs which vest will depend on the extent to which performance conditions have been satisfied over a three-year period ending 31 December 2011. These performance conditions are consistent with the rules of the Plan, as described in the summary of the Plan set out in the Directors' Remuneration Report which is contained in BP's Annual Report and Accounts 2008. In addition, each Director will be entitled to additional shares/ADSs representing the value of reinvested dividends on those shares/ADSs which vest.
Related Shares:
BP