Remuneration of senior management and non-executive directors

12 Months Ended

Dec. 31, 2023

Remuneration of senior management and non-executive directors

Remuneration of directors


			$ million
	2023	2022	2021
Total for all directors
Emoluments	8	8	9
Amounts received under incentive schemesa	6	13	4
Total	14	21	13

aExcludes amounts relating to past directors.

Emoluments

These amounts comprise fees paid to the non-executive chair and the non-executive directors and, for executive directors, salary and benefits earned during the relevant financial year, plus cash bonuses awarded for the year.

Further information

Full details of individual directors’ remuneration are given in the Directors’ remuneration report on page 105.

Remuneration of directors and senior management


			$ million
	2023	2022	2021
Total for all senior management and non-executive directors
Short-term employee benefits	31	31	30
Pensions and other post-retirement benefits	—	—	1
Share-based paymentsa	12	31	32
Termination benefits	—	—	—
Total	43	62	63

aIncludes a reversal of $14 million relating to the lapse of Bernard Looney's outstanding share awards in prior years.

Senior management comprises members of the leadership team, see pages 86-87 for further information.

Short-term employee benefits

These amounts comprise fees and benefits paid to the non-executive chair and non-executive directors, as well as salary, benefits and cash bonuses for senior management. Deferred annual bonus awards, to be settled in shares, are included in share-based payments.

Pensions and other post-retirement benefits

The amounts represent the estimated cost to the group of providing pensions and other post-retirement benefits to senior management in respect of the current year of service measured in accordance with IAS 19 ‘Employee Benefits’.

Share-based payments

This is the cost to the group of senior management’s participation in share-based payment plans, as measured by the fair value of options and shares granted, accounted for in accordance with IFRS 2 ‘Share-based Payments’.

Termination benefits

Termination benefits include compensation to senior management for loss of office.

Related party transactions

Transactions between the group and its significant joint ventures and associates are summarized in Financial statements – Note 16 and Note 17. In the ordinary course of its business, the group enters into transactions with various organizations with which some of its directors or executive officers are associated. Except as described in this report, the group did not have any material transactions or transactions of an unusual nature with, and did not make loans to, related parties in the period commencing 1 January 2023 to 16 February 2024.