Level 2

Company Announcements

Director/PDMR Shareholding

Related Companies

By LSE RNS

RNS Number : 9573F
BP PLC
23 May 2017
 

BP p.l.c.

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

The Company announces that on 19 May 2017, 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 Matching Award (including matched shares) - 2016

 

Mr R W Dudley                  compulsory award        49,214 ADSs

Dr B Gilvary                        compulsory award        146,140 ordinary shares

 

This conditional award of one-third of a director's annual bonus, required to be deferred into ordinary shares/ADSs, is matched on a one-for-one basis. 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 2016.  Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.

 

The Performance Share Award 2017-2019

 

Mr R W Dudley                  261,938 ADSs

Dr B Gilvary                        722,093 ordinary shares

 

This conditional award with a 2017-2019 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 2019. These performance conditions are detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2016.  Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.

 

The Deferred Matching Award 2014 - vesting

 

This vesting represents additional dividends received on the vested award under the EDIP deferred matching award 2014, which vested on 24 February 2017 and was announced under RNS 8375X.

 

Vested amount

Shares sold for tax and expenses

Released amount





Mr R W Dudley (ADSs)

1,076

508

568

Dr B Gilvary (ordinary shares)

4,174

1,966

2,208

                                                                                               

 

The Performance Share Award 2014-2016 - vesting

The Company has determined that 40% of shares awarded under the EDIP performance share award 2014-2016 will vest. 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)

107,079

50,429

56,650

Dr B Gilvary (ordinary shares)

303,134

142,758

160,376

 

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

311,152 restricted share units (in the form of ADSs) acquired pursuant to participation in the BP Executive Directors' Incentive Plan.

57,218 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

368,370

d)

Aggregated information

-      Volume

 

-      Price

 

-      Total

 

368,370

 

Nil consideration. Market value $36.94

 

Market value $13,607,587.80

e)

Date of the transaction

19 May 2017

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

868,233 restricted share units (in the form of ordinary shares) acquired pursuant to participation in the BP Executive Directors' Incentive Plan.

162,584 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

1,030,817

d)

Aggregated information

-      Volume

 

-      Price

 

-      Total

 

1,030,817

Nil consideration. Market value £4.72

 

Market value £4,865,456.24

e)

Date of the transaction

19 May 2017

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 company news service from the London Stock Exchange
 
END
 
 
DSHOKNDPFBKKKPB

Top of Page