REG - BP PLC - Director/PDMR Shareholding

BPAnnouncement

20/02/2020 15:50

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.




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHKKKBQPBKDOBB