BP PLC Director/PDMR Shareholding (9261O)
May 22 2018 - 10:19AM
UK Regulatory
TIDMBP.
RNS Number : 9261O
BP PLC
22 May 2018
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 Released
for tax amount
and expenses
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 Released
for tax amount
and expenses
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 American Depositary Shares (each representing 6
instrument ordinary shares of $0.25)
Identification code 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 375,221
* Volume Nil consideration. Market value $47.79
Market value $17,931,811.59
* Price
* Total
--- -------------------------------------------------------- -------------------------------------------------------
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 Ordinary shares of $0.25
instrument GB0007980591
Identification code
--- -------------------------------------------------------- -------------------------------------------------------
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 1,145,356
* Volume Nil consideration. Market value GBP5.928
Market value GBP6,789,670.37
* Price
* Total
--- -------------------------------------------------------- -------------------------------------------------------
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.
END
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