REG - BP PLC - Director/PDMR Shareholding

BPAnnouncement

30/04/2026 15:45

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RNS Number : 6550C  BP PLC  30 April 2026

BP p.l.c.

Notification of transactions of persons discharging managerial responsibility
or connected persons

Buy-out award for incoming chief executive officer

BP p.l.c. (the "Company") announces that on 29 April 2026 it granted the
following share awards (the "Awards") to Meg O'Neill in connection with her
appointment as the Company's chief executive officer which took effect from 1
April 2026. The Awards were granted pursuant to a bespoke share plan as
permitted by UKLR 9.3.2R established for the purpose of granting these one-off
awards and on the terms set out in a Deed of Grant (the "Deed") dated 29 April
2026.

Level and purpose of Award

The Awards have been granted to replace the remuneration forfeited by Ms
O'Neill on leaving her previous employer, Woodside Energy Group Ltd (Woodside)
and are consistent with the 2026 directors' remuneration policy and as
disclosed in the 2025 directors' remuneration report.

 

The foregone remuneration comprised a combination of restricted share awards
and performance share awards with overlapping vesting periods extending up to
five years.

 

Structure of the Award

The Awards take the following forms:

· Restricted share awards, which replace forfeited restricted share awards
and performance share awards due to vest in 2027 and 2028, with in-flight
performance valued at 50% of maximum and,

· Performance share awards, which replace the forfeited unvested performance
share awards and are subject to the Company's relative TSR performance.

 

The number of shares subject to the Awards has been calculated using the
90-day average share prices of bp and Woodside and the applicable foreign
exchange rate, in each case prior to the effective date of Ms O'Neill's
appointment on 1 April 2026.

Number of shares subject to award

 Name         Award
 Meg O'Neill  1,901,277 ordinary shares - Restricted Share Award
              809,232 ordinary shares - Performance Share Award

 

The Awards will vest over a period of five years subject to the terms as set
out in the Deed and in the case of the Performance Share Award, satisfaction
of applicable performance conditions.

Ms O'Neill will be entitled to receive dividend equivalents payable in cash in
respect of Restricted Share Awards and in shares on vesting in respect of
Performance Share Award.

 

 

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Meg O'Neill
 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  Ordinary shares of $0.25

     Identification code                                          GB0007980591
 b)  Nature of the transaction                                    Grant of conditional restricted share awards over ordinary shares pursuant to
                                                                  a bespoke buy-out award arrangement
 c)  Price(s) and volume(s)

Price(s)           Volume(s)
                                                                  Nil consideration  1,901,277
 d)  Aggregated information

     -      Volume                                                1,901,277

     -      Price                                                 Nil consideration. Market value: £4.84

     -      Total                                                 Nil consideration. Market value: £9,202,181
 e)  Date of the transaction                                      29 April 2026
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-      Volume

 

-      Price

 

-      Total

 

1,901,277

 

Nil consideration. Market value: £4.84

 

Nil consideration. Market value: £9,202,181

e)

Date of the transaction

29 April 2026

f)

Place of the transaction

Outside a trading venue

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Meg O'Neill
 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  Ordinary shares of $0.25

     Identification code                                          GB0007980591
 b)  Nature of the transaction                                    Grant of conditional performance share awards over ordinary shares pursuant to
                                                                  a bespoke buy-out award arrangement
 c)  Price(s) and volume(s)

Price(s)           Volume(s)
                                                                  Nil consideration  809,232
 d)  Aggregated information

     -      Volume                                                809,232

     -      Price                                                 Nil consideration. Market value: £4.84

     -      Total                                                 Nil consideration. Market value: £3,916,683
 e)  Date of the transaction                                      29 April 2026
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-      Volume

 

-      Price

 

-      Total

 

809,232

 

Nil consideration. Market value: £4.84

 

Nil consideration. Market value: £3,916,683

e)

Date of the transaction

29 April 2026

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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