BP PLC Director/PDMR Shareholding (9261O)

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 [e-mail] or visit www.rns.com.

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May 22, 2018 11:19 ET (15:19 GMT)