Director/PDMR Shareholding

RNS Number : 6592Q

BP PLC

20 February 2019

 

BP p.l.c.

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

The Company announces that on 19 February 2019, 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 grant of the EDIP deferred 2018 award

Name	Award
Robert W Dudley	19,764 ADSs
Brian Gilvary	64,436 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 the Remuneration Committee's assessment of the Company's safety and environmental sustainability over a three-year period, commencing on 1 January 2019 and ending on 31 December 2021.  Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.

The grant of the EDIP performance 2019-2021 award

Name	Award
Robert W Dudley	223,461 ADSs
Brian Gilvary	654,315 ordinary shares

This conditional award with a 2019-2021 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 2021. These performance conditions will be detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2018.  Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.

The vesting of the EDIP deferred 2015 award

	Vested amount	Shares sold for tax and expenses	Released amount
Brian Gilvary (ordinary shares)	387,160	182,330	204,830

This is the vesting and release of the deferred shares awarded in 2016 in respect of the 2015 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 2016 to 2018. The matching element is not vesting at this time.

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	243,225 restricted share units (in the form of ADSs) awarded under the BP Executive Directors' Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil consideration 243,225
d)	Aggregated information -      Volume -      Price -      Total	243,225 Nil consideration. Market value $42.38 Nil. Market value $10,307,875.50
e)	Date of the transaction	19 February 2019
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	718,751 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 718,751
d)	Aggregated information -      Volume -      Price -      Total	718,751 Nil consideration. Market value £5.368 Nil. Market value £3,858,255.37
e)	Date of the transaction	19 February 2019
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 204,830
d)	Aggregated information -      Volume -      Price -      Total	204,830 Nil consideration. Market value £5.3773 Nil. Market value £1,101,432.36
e)	Date of the transaction	19 February 2019
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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