REG - BP PLC - Director/PDMR Shareholding
BP p.l.c.
Notification of transactions of persons discharging managerial responsibility or person closely associated
The Company announces that on 22 May 2018, 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 Deferred Award - 2017
Mr R W Dudley compulsory award 37,706 ADSs
Dr B Gilvary compulsory award 127,457 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 performance conditions as detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2017. Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.
The Performance Share Award 2018-2020
Mr R W Dudley 232,600 ADSs
Dr B Gilvary 696,705 ordinary shares
This conditional award with a 2018-2020 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 2020. These performance conditions are detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2017. Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.
The Deferred Matching Award 2015 - dividend vesting
This vesting represents additional dividends received on the vested award under the EDIP deferred matching award 2015, which vested on 20 February 2018 and was announced under RNS 4373F.
Vested amount
Shares sold for tax and expenses
Released amount
Dr B Gilvary (ordinary shares)
3,276
1,544
1,732
The Performance Share Award 2015-2017 - vesting
The Company has determined that 70% of shares awarded under the EDIP performance share award 2015-2017 will vest. The rationale behind this determination is detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2017. The released amount stated below will be retained for a period of three years.
Vested amount
Shares sold for tax and expenses
Released amount
Mr R W Dudley (ADSs)
198,306
93,391
104,915
Dr B Gilvary (ordinary shares)
603,831
284,369
319,462
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
270,306 restricted share units (in the form of ADSs) acquired pursuant to participation in the BP Executive Directors' Incentive Plan.
104,915 ADSs acquired pursuant to the vesting of shares under the BP Executive Directors' Incentive Plan, following adjustments for tax, dividends and expenses where applicable.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil consideration
375,221
d)
Aggregated information
- Volume
- Price
- Total
375,221
Nil consideration. Market value $47.79
Market value $17,931,811.59
e)
Date of the transaction
22 May 2018
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
824,162 restricted share units (in the form of ordinary shares) acquired pursuant to participation in the BP Executive Directors' Incentive Plan.
321,194 shares acquired pursuant to the vesting of ordinary shares under the BP Executive Directors' Incentive Plan, following adjustments for tax, dividends and expenses where applicable.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil consideration
1,145,356
d)
Aggregated information
- Volume
- Price
- Total
1,145,356
Nil consideration. Market value £5.928
Market value £6,789,670.37
e)
Date of the transaction
22 May 2018
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.ENDDSHFKBDDPBKDOPB
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