02/03/2017 - 10:02

Coleman receives $3m in Woodside shares

02/03/2017 - 10:02

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Woodside Petroleum boss Peter Coleman has received $2.9 million worth of shares in the Perth-based energy giant as part of a short-term incentive under his executive employment contract.

Coleman receives $3m in Woodside shares

Woodside Petroleum boss Peter Coleman has received $2.9 million worth of shares in the Perth-based energy giant as part of a short-term incentive under his executive employment contract.

Mr Coleman received 96,450 shares at a value of $31.09 each. The restricted shares were allocated as a deferred component of Mr Coleman’s short term award for the 2016 performance year, and as such it was not an acquisition of shares.

It follows news yesterday that Mr Coleman’s annual remuneration was cut by about $US850,000 in 2016 to $US6.7 million ($A8.7 million) after Woodside restructured executive pay following a shareholder vote.

Mr Coleman was also granted 104,997 variable pay rights at the same allocation value as the shares.

He now owns 335,208 ordinary shares in Woodside, which at the company’s current share price (at 10am) of $30.99, are worth $10.38 million.

 

 

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