After the Vest: Holding, Selling or Transferring

 

Holding Matched/Acquired Shares

You can keep your Matched/Acquired Shares in your Shareworks account for as long as you remain in employed by BHP. Keeping your Matched/Acquired Shares in your Shareworks account has the following benefits:

  • Your dividends can be distributed to you through payroll, if you receive your salary in a currency other than AUD, GBP or USD.
  • You can instruct the Plan Administrator to sell the Acquired Shares or Matched Shares for you (subject to Our Requirements for Securities Dealing. This can be beneficial in countries where brokers may not easily trade in those shares on the relevant stock exchange (for example if you are in Chile or Canada and have Matched/Acquired Shares on the Australian Stock Exchange).
  •  BHP will cover costs of sale and brokerage for you if you sell through Shareworks.

When you leave BHP your Matched/Acquired Shares will remain in your Shareworks account for six months, after which they will be transferred to the ordinary shareholder register.

 

Selling Matched/Acquired Shares

Under Our Requirements for Securities Dealing, a sale or transfer of shares is a “dealing”. You must ensure you comply with Our Requirements for Securities Dealing when selling or transferring BHP securities.

If you are an Employee Insider you will have been advised of this by Group Governance. All Employee Insiders must receive clearance prior to dealing in BHP securities. Further information can be found in Our Requirements for Securities Dealing, available from the BHP Digital Workspace.

If you choose to sell your Matched/Acquired Shares, the Plan Administrator will complete the sale, and BHP will pay brokerage costs of the sale for you.

 

When can I sell my Matched/Acquired Shares?

If you have a mandatory tax withholding liability, you will be able to sell your Matched Shares within the next few business days. If you do not have withholding obligations, your Matched Shares will be available to sell after the vest has occurred.

 

How can I sell my Matched/Acquired Shares?

You can sell Acquired and Matched Shares held in your Shareworks account through the online sale facility, either via the Shareworks website, the Shareworks app or by calling the Plan Administrator.

 

Will there be any costs of sale?

When you sell your Matched/Acquired Shares from your Shareworks account, BHP covers the costs of the sale. There may, however, be costs for you (such as bank fees) in transferring/receiving the proceeds of sale in your chosen currency as described below.

 

Do I have to sell my Matched/Acquired Shares by a specific date?

No, you can hold your Matched/Acquired Shares in your Shareworks account until you sell or transfer them, or you cease employment with BHP.

Refer to the Holding section for further information.

 

How are sale proceeds distributed?

You can elect how you wish to receive your sale proceeds. The options available are:

  • Direct Credit (for GBP, AUD, and USD accounts not requiring currency conversions)
  • Foreign Currency Wire

 

How long will it take for me to receive sale proceeds?

You should receive your sale proceeds into your nominated bank account within approximately one week of the trade settlement date.

 

Can Shareworks pay sale proceeds in any currency?

No. Only selected currencies are available. If selling online you will only be presented with those currencies available to your country.

Transferring Your Matched/Acquired Shares

You must ensure you comply with Our Requirements for Securities Dealing when selling or transferring BHP securities.

If you are an Employee Insider you will have been advised of this by Group Governance. All Employee Insiders must receive clearance prior to dealing in BHP securities. Further information can be found in Our Requirements for Securities Dealing, available from the BHP Digital Workspace.

Transferring your Matched/Acquired Shares out of your Shareworks account and into your own name as ordinary shares on the BHP register enables you to

  • Add them to your existing portfolio of BHP ordinary shares;
  • transfer them to other holders (e.g. your spouse or into a trust); or
  • transfer them to a brokerage account

Note that these options are not available for employees located in China

 

How can I transfer my Matched/Acquired Shares?

Matched/Acquired Shares held in your Shareworks account can be transferred through the online facility in your Shareworks account to Computershare and then to your personal broker.

Refer to the Your Shareworks Account section for more information.