Director/PDMR Shareholding

RNS Number : 0961R

BP PLC

04 March 2016

 

BP p.l.c.

Notification of transactions of persons discharging managerial responsibility

The Company announces that on 4 March 2016, the following conditional share awards were made to the following Executive Directors of BP p.l.c. under the BP Executive Directors' Incentive Plan (the "Plan"). The Plan has two elements: the deferred matching element and the performance share element.

The Deferred Matching Award (including matched shares) - 2015

Mr R W Dudley            compulsory award        91,964 ADSs (conditional)

voluntary award           91,964 ADSs (conditional)

Dr B Gilvary                 compulsory award        318,042 ordinary shares (conditional)

                                    voluntary award           318,042 ordinary shares (conditional)

This is a conditional award consisting of one-third of a director's annual bonus which is required to be deferred into ordinary shares/ADSs (the "Compulsory Award") and any further portion of the director's annual bonus up to an additional one-third which the director may choose to defer into ordinary shares/ADSs (the "Voluntary Award"). Both the Compulsory Award and Voluntary Award are matched on a one-for-one basis (with the matched shares included in the Deferred Matching Awards referred to above) and will vest depending on the Remuneration Committee's assessment of the Company's safety and environmental sustainability over a three-year period, commencing on 1 January 2016 and ending on 31 December 2018.  These performance conditions are consistent with the rules of the Plan, a summary of which will be set out in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2015.  Each Director will be entitled to additional ordinary shares/ADSs representing the value of reinvested dividends on those ordinary shares/ADSs which vest.

The Performance Share Award 2016-2018

Mr R W Dudley                                               301,597 ADSs

Dr B Gilvary                                                     786,559 ordinary shares

This is a conditional award pertaining to the 2016-2018 performance period.  The number of ordinary shares/ADSs set out above is the maximum number which may vest under the Performance Share Awards.  The actual number of ordinary shares/ADSs which vest will depend on the extent to which performance conditions have been satisfied over a three-year period ending 31 December 2018. These performance conditions are consistent with the rules of the Plan, a summary of which will be set out in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2015.  Each Director will be entitled to additional ordinary shares/ADSs representing the value of reinvested dividends on those ordinary shares/ADSs which vest.

This notice is given in fulfillment of the obligation under DTR3.1.4 (1)(a)R.

 

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