BP PLC
For the period ended Dec 31, 2024. Filed Mar 6, 2025.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2024 · Filed Mar 6, 2025
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Contents
Fee structure
The table below shows the fee structure for the chair and non-executive directors (NEDs). The chair is not eligible for committee chairship and
membership fees. The senior independent director (SID) is eligible for committee chairship and membership fees, and their fee includes the board member
fee. Committee chairs do not receive a membership fee for the committee they chair.
Under the 2023 policy, fee levels are reviewed annually alongside wider workforce salaries and any changes are put into effect from 1 April. Taking all
factors into consideration, for 2025 the board agreed to implement a 4% increase to the base fee for NEDs and for the SID, aligned with the salary increase
budget for the UK wider workforce. Determination of the fees payable to the chair falls to the remuneration committee, which agreed to align the
percentage increase of the chair's fee with the other NEDs. Following board and remuneration committee approval, the remuneration arrangements for the
chair and NEDs will be adjusted with effect from 1 April 2025.
| £ thousand per annum | 2025/26 fees | 2024/25 fees |
|---|---|---|
| Chair | 888 | 854 |
| Senior independent director | 181.5 | 174.5 |
| Board member | 130.5 | 125.5 |
| Audit, remuneration and safety and sustainability committees chairship | 35 | 35 |
| Committee membership | 20 | 20 |
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