Director/PDMR Shareholding

RNS Number : 6588D

BP PLC

20 February 2020

 

BP p.l.c.

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

The Company announces that, on 18 February 2020, a conditional share award and the vesting of shares previously awarded to Brian Gilvary under the BP Executive Directors' Incentive Plan (the "Plan") occurred.

The grant of the EDIP deferred 2019 award

Name	Award
Brian Gilvary	126,110 ordinary shares

This is a conditional award of half of a director's annual bonus, required to be deferred into ordinary shares. The award will vest subject to the Remuneration Committee's assessment of the Company's safety and environmental sustainability over a three-year period, commencing on 1 January 2020 and ending on 31 December 2022. The Executive Director will be entitled to the value of reinvested dividends on those ordinary shares which vest.

Vesting of the EDIP deferred 2014 matching award

	Vested amount	Shares sold for tax and expenses	Released amount
Brian Gilvary (ordinary shares)	246,359	116,021	130,338

This is the vesting of the matching element of the EDIP deferred plan awarded in 2015 in respect of the 2014 bonus and includes dividends accrued on the award . These share awards were subject to a review of safety and environmental performance over the period from 2015 to 2019 and will be retained for a period of one year. The compulsory and voluntary elements of the EDIP deferred 2014 award vested on 20 February 2018 and was announced under RNS 4373F.

Vesting of the EDIP deferred 2016 award

	Vested amount	Shares sold for tax and expenses	Released amount
Brian Gilvary (ordinary shares)	86,176	40,585	45,591

This is the vesting and release of the deferred shares of the EDIP deferred plan awarded in 2017 in respect of the 2016 bonus and includes dividends accrued on the award. These share awards were subject to a review of safety and environmental performance over the three year period from 2017 to 2019.

Vesting of the EDIP Performance Share Award 2017-2019

The Company has determined that 71.2% of shares awarded under the EDIP performance share award 2017-2019 will vest. The rationale behind this determination will be detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2019 to be published in March 2020.  The released amount stated below will be retained for a period of three years.

	Vested amount	Shares sold for tax and expenses	Released amount
Brian Gilvary (ordinary shares)	606,347	285,554	320,793

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	126,110 restricted share units (in the form of ordinary shares) awarded under the BP Executive Directors' Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil consideration 126,110
d)	Aggregated information -  Volume -  Price -  Total	126,110 Nil consideration. Market value £4.575 Nil. Market value £576,953.25
e)	Date of the transaction	18 February 2020
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	Shares acquired pursuant to the vesting of shares under the BP Executive Directors' Incentive Plan, following adjustments for tax, dividends and expenses.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil consideration 496,722
d)	Aggregated information -  Volume -  Price -  Total	496,722 Nil consideration. Market value £4.54344 Nil. Market value £2,256,826.60
e)	Date of the transaction	18 February 2020
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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