BP PLC Director/PDMR Shareholding (9573F)
May 23 2017 - 03:53AM
UK Regulatory
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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