Receiving Matched Shares
How many Matched Shares will I have the right to receive?
You will receive one Matched Share for every Acquired Share you hold at the end of each Holding Period.
If I sell my Acquired Shares will I still receive Matched Shares?
No, if you sell all or a proportion of your Acquired Shares before the end of the Holding Period, you will lose the right to receive the related Matched Shares.
For example: if you have 100 Acquired Shares and sell 20 of these before the end of the Holding Period, then BHP will only match one for one on the remaining 80 Acquired Shares.
When are the Matched Shares awarded?
The Matched Shares are allocated as soon as practicable after the end of the Holding Period. For Shareplus 2020, this will occur on the first non-Prohibited Period date after 6 April 2023. The Holding Period for Acquired Shares will be reduced for Leavers as described in the Leaving section.
Do I have to hold my Matched Shares for a period of time after they have been awarded to me?
No, there is no Holding Period which applies to the Matched Shares and if you wish to do so you can sell your Matched Shares immediately after they have been awarded to you. However, when dealing with any shares, you must ensure that you comply with Our Requirements for Securities Dealing standard which can be downloaded from the BHP Digital Workspace.
Withholding Tax on Matched Shares
The allocation of the Matched Shares may trigger a tax and/or social security liability in some countries. In countries where BHP has a mandatory requirement to withhold tax on the value of the Matched Shares that have been allocated, the terms and conditions of Shareplus allow the Plan Administrator to withhold a sufficient number of Matched Shares to cover your tax liability (through a reduction in the number of Matched Shares that would otherwise have been allocated to you). The balance of your Matched Shares will then be available to you to hold, sell or transfer as you choose.
BHP or the Plan Administrator will decide at the relevant time whether Matched Shares will be withheld in order to cover your tax liability. The tax amount withheld will be transferred to your relevant payroll for onward payment to the country tax authorities. In countries where no withholding tax applies, participants will generally need to declare the value of their Matched Shares as income in their tax return. For more information please refer to the tax information for your country which is available online via BHPBShareplus.com.