REG - BP PLC - Director/PDMR Shareholding

BPAnnouncement

20/02/2019 16:50

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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