Director/PDMR Shareholding

RNS Number : 9261O

BP PLC

22 May 2018

 

BP p.l.c.

Notification of transactions of persons discharging managerial responsibility or person closely associated

The Company announces that on 22 May 2018, conditional share awards and the vesting of shares previously awarded were made to the following Executive Directors of BP p.l.c. under the BP Executive Directors' Incentive Plan (the "Plan").

The Deferred Award - 2017

Mr R W Dudley                  compulsory award        37,706 ADSs

Dr B Gilvary                        compulsory award        127,457 ordinary shares

This is a conditional award of half of a director's annual bonus, required to be deferred into ordinary shares/ADSs. The award will vest subject to performance conditions as detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2017.  Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.

The Performance Share Award 2018-2020

Mr R W Dudley                  232,600 ADSs

Dr B Gilvary                        696,705 ordinary shares

This conditional award with a 2018-2020 performance period is awarded at the maximum number, with the number of ordinary shares/ADSs which vest dependent on the extent to which performance conditions are satisfied over a three-year period ending 31 December 2020. These performance conditions are detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2017.  Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.

The Deferred Matching Award 2015 - dividend vesting

This vesting represents additional dividends received on the vested award under the EDIP deferred matching award 2015, which vested on 20 February 2018 and was announced under RNS 4373F.

	Vested amount	Shares sold for tax and expenses	Released amount
Dr B Gilvary (ordinary shares)	3,276	1,544	1,732

The Performance Share Award 2015-2017 - vesting

The Company has determined that 70% of shares awarded under the EDIP performance share award 2015-2017 will vest. The rationale behind this determination is detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2017.  The released amount stated below will be retained for a period of three years.

	Vested amount	Shares sold for tax and expenses	Released amount
Mr R W Dudley (ADSs)	198,306	93,391	104,915
Dr B Gilvary (ordinary shares)	603,831	284,369	319,462

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Robert W. Dudley
2	Reason for the notification
a)	Position/status	Chief Executive Officer / Director
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BP p.l.c.
b)	LEI	213800LH1BZH3DI6G760
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	American Depositary Shares (each representing 6 ordinary shares of $0.25) US0556221044
b)	Nature of the transaction	270,306 restricted share units (in the form of ADSs) acquired pursuant to participation in the BP Executive Directors' Incentive Plan. 104,915 ADSs acquired pursuant to the vesting of shares under the BP Executive Directors' Incentive Plan, following adjustments for tax, dividends and expenses where applicable.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil consideration 375,221
d)	Aggregated information -      Volume -      Price -      Total	375,221 Nil consideration. Market value $47.79 Market value $17,931,811.59
e)	Date of the transaction	22 May 2018
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Brian Gilvary
2	Reason for the notification
a)	Position/status	Chief Financial Officer / Director
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	BP p.l.c.
b)	LEI	213800LH1BZH3DI6G760
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of $0.25 GB0007980591
b)	Nature of the transaction	824,162 restricted share units (in the form of ordinary shares) acquired pursuant to participation in the BP Executive Directors' Incentive Plan. 321,194 shares acquired pursuant to the vesting of ordinary shares under the BP Executive Directors' Incentive Plan, following adjustments for tax, dividends and expenses where applicable.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil consideration 1,145,356
d)	Aggregated information -      Volume -      Price -      Total	1,145,356 Nil consideration. Market value £5.928 Market value £6,789,670.37
e)	Date of the transaction	22 May 2018
f)	Place of the transaction	Outside a trading venue

This notice is given in fulfilment of the obligation under Article 19 of the Market Abuse Regulation.

 

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