Shell PLC (LSE:SHEL, NYSE:SHEL) said it had awarded its top executives hundreds of thousands of shares on Tuesday with a value of more than £8mln.
Wael Sawan, chief executive, was the largest beneficiary receiving around 65,900 shares worth close to £1.7mln currently.
Project and tech director Henry Brekelmans and downstream director Huibert Vigeveno received the next highest awards, with each receiving near to 51,760 shares valued at around £1.33mln at the current UK share price of 2,600p.
The two women on the executive board, chief financial officer Sinead Gorman and upstream director Zoe Yujnovich, received among the lowest awards at about 21,200 and 28,200 respectively.
In total, Shell's eight executive committee members were awarded almost 323,000 shares as part of its long-term incentive plan, worth around £8.4mln.
Executives were granted the shares following a “three-year vesting period,” under its reward scheme “designed to retain key employees”.
Since the start of 2020, Shell's share price has risen by close to 150% as oil and gas prices have soared helped in part by the start of the Ukraine war and the end of Covid restrictions.
Shell generated record profits of almost US$40bn in 2022.