TIDMBP.

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     Released 
                                            for tax         amount 
                                            and expenses 
 
 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     Released 
                                            for tax         amount 
                                            and expenses 
 
 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          American Depositary Shares (each representing 6 
      instrument                                                ordinary shares of $0.25) 
      Identification code                                       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                                368,370 
             *    Volume                                          Nil consideration. Market value $36.94 
                                                                  Market value $13,607,587.80 
 
 
             *    Price 
 
 
 
             *    Total 
---  --------------------------------------------------------  ------------------------------------------------------- 
 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          Ordinary shares of $0.25 
      instrument                                                 GB0007980591 
      Identification code 
---  --------------------------------------------------------  ------------------------------------------------------- 
 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                                1,030,817 
             *    Volume                                          Nil consideration. Market value GBP4.72 
                                                                  Market value GBP4,865,456.24 
 
 
             *    Price 
 
 
 
             *    Total 
---  --------------------------------------------------------  ------------------------------------------------------- 
 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

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May 23, 2017 04:53 ET (08:53 GMT)

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