Director/PDMR Shareholding
Updated : 16:46
BP p.l.c.
Notification of transactions of persons discharging managerial responsibility or person closely associated
The Company announces that on 19 February 2019, 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 grant of the EDIP deferred 2018 award
Name | Award |
Robert W Dudley | 19,764 ADSs |
Brian Gilvary | 64,436 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 the Remuneration Committee's assessment of the Company's safety and environmental sustainability over a three-year period, commencing on 1 January 2019 and ending on 31 December 2021. Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.
The grant of the EDIP performance 2019-2021 award
Name | Award |
Robert W Dudley | 223,461 ADSs |
Brian Gilvary | 654,315 ordinary shares |
This conditional award with a 2019-2021 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 2021. These performance conditions will be detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2018. Each Executive Director will be entitled to the value of reinvested dividends on those ordinary shares/ADSs which vest.
The vesting of the EDIP deferred 2015 award
Vested amount | Shares sold for tax and expenses | Released amount | |
Brian Gilvary (ordinary shares) | 387,160 | 182,330 | 204,830 |
This is the vesting and release of the deferred shares awarded in 2016 in respect of the 2015 bonus and includes dividends accrued on the award. These share awards were subject to a review of safety and environmental performance over the three year period from 2016 to 2018. The matching element is not vesting at this time.
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 | 243,225 restricted share units (in the form of ADSs) awarded under the BP Executive Directors' Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Volume
- Price
- Total |
243,225
Nil consideration. Market value $42.38
Nil. Market value $10,307,875.50 | ||||
e) | Date of the transaction | 19 February 2019 | ||||
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 | 718,751 restricted share units (in the form of ordinary shares) awarded under the BP Executive Directors' Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Volume
- Price
- Total |
718,751
Nil consideration. Market value £5.368
Nil. Market value £3,858,255.37 | ||||
e) | Date of the transaction | 19 February 2019 | ||||
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 | Shares acquired pursuant to the vesting of shares under the BP Executive Directors' Incentive Plan, following adjustments for tax, dividends and expenses. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Volume
- Price
- Total |
204,830
Nil consideration. Market value £5.3773
Nil. Market value £1,101,432.36 | ||||
e) | Date of the transaction | 19 February 2019 | ||||
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.