{"id":52,"date":"2007-03-15T01:48:29","date_gmt":"2007-03-15T01:48:29","guid":{"rendered":"http:\/\/kranenburgesq.com\/blog\/2007\/03\/20-f-annotated-bp-plc\/"},"modified":"2007-03-15T01:50:42","modified_gmt":"2007-03-15T01:50:42","slug":"20-f-annotated-bp-plc","status":"publish","type":"post","link":"https:\/\/kranenburgesq.com\/blog\/2007\/03\/20-f-annotated-bp-plc\/","title":{"rendered":"20-F Annotated: BP Plc"},"content":{"rendered":"<p align=\"left\">As discussed in this <a title=\"In re BP Plc Derivative Litigation, where?\" target=\"_blank\" href=\"http:\/\/kranenburgesq.com\/blog\/2007\/02\/in-re-bp-plc-derivative-litigation-where\/\">previous post<\/a>, <a title=\"BP Plc\" target=\"_blank\" href=\"http:\/\/www.bp.com\/\">BP Plc<\/a> (LSE, NYSE: BP) and its chief executive Lord Browne of Madingley, are defendants in a derivative action in the US. Last week the company released its <a title=\"BP Plc's Annual Report 2006\" target=\"_blank\" href=\"http:\/\/www.bp.com\/liveassets\/bp_internet\/globalbp\/globalbp_uk_english\/SI\/STAGING\/local_assets\/downloads_pdfs\/ara_2006_annual_report_and_accounts.pdf\">annual report<\/a> (SEC Form 20-F <a title=\"BP Plc's Form 20-F 2006\" target=\"_blank\" href=\"http:\/\/sec.gov\/Archives\/edgar\/data\/313807\/000115697307000346\/b848881-20f.htm\">filing<\/a>) for 2006. Two brief notes on the report, regarding Lord Browne&#8217;s compensation and BP&#8217;s legal proceedings.<\/p>\n<p align=\"left\">Lord Browne&#8217;s total pay &#8211; his compensation is also a subject of the action &#8211; was cut last year, by 23 per cent from \u00c2\u00a33.29 million to \u00c2\u00a32.53 million. (Or, as the <a title=\"Lord Browne's pay cut for the second year running\" target=\"_blank\" href=\"http:\/\/www.ft.com\/cms\/s\/2e913b5e-cc52-11db-a661-000b5df10621.html\">Financial Times<\/a> includes his vested shares for the year in the total compensation, the cut was of 28 per cent to \u00c2\u00a34.57 million.) For the report&#8217;s full discussion of executive compensation, see from p.68 (70 of 228; form p.61).<\/p>\n<p align=\"left\">With regards to legal proceedings (report p.85 (87 of 228), form p.77), the section with that heading starts with the following statement: &#8220;Save as disclosed in the following paragraphs, no member of the group is a party to, and no property of a member of the group is subject to, any pending legal proceedings <em>that are significant to the group<\/em>.&#8221; (WV&#038;Z&#8217;s emphasis) Tellingly, the derivative action, filed in the relevant year, is not disclosed.<\/p>\n<p align=\"left\">The notice of the AGM of 12 April in London is <a title=\"Notice of BP Plc's AGM\" target=\"_blank\" href=\"http:\/\/www.bp.com\/liveassets\/bp_internet\/globalbp\/globalbp_uk_english\/SI\/STAGING\/local_assets\/downloads_pdfs\/IC_SHMV07_BP_notice_of_meeting_2007.pdf\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As discussed in this previous post, BP Plc (LSE, NYSE: BP) and its chief executive Lord Browne of Madingley, are defendants in a derivative action in the US. Last week the company released its annual report (SEC Form 20-F filing) for 2006. Two brief notes on the report, regarding Lord Browne&#8217;s compensation and BP&#8217;s legal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-52","post","type-post","status-publish","format-standard","hentry","category-20-f-annotated"],"_links":{"self":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/posts\/52","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/comments?post=52"}],"version-history":[{"count":0,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/posts\/52\/revisions"}],"wp:attachment":[{"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/media?parent=52"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/categories?post=52"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kranenburgesq.com\/blog\/wp-json\/wp\/v2\/tags?post=52"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}