TIDMBP.

RNS Number : 6588D

BP PLC

20 February 2020

BP p.l.c.

Notification of transactions of persons discharging managerial responsibility or person closely associated

The Company announces that, on 18 February 2020, a conditional share award and the vesting of shares previously awarded to Brian Gilvary under the BP Executive Directors' Incentive Plan (the "Plan") occurred.

The grant of the EDIP deferred 2019 award

 
 Name            Award 
 Brian Gilvary   126,110 ordinary 
                  shares 
 

This is a conditional award of half of a director's annual bonus, required to be deferred into ordinary shares. 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 2020 and ending on 31 December 2022. The Executive Director will be entitled to the value of reinvested dividends on those ordinary shares which vest.

Vesting of the EDIP deferred 2014 matching award

 
                            Vested amount   Shares sold    Released amount 
                                             for tax and 
                                             expenses 
 Brian Gilvary (ordinary 
  shares)                   246,359         116,021        130,338 
 

This is the vesting of the matching element of the EDIP deferred plan awarded in 2015 in respect of the 2014 bonus and includes dividends accrued on the award . These share awards were subject to a review of safety and environmental performance over the period from 2015 to 2019 and will be retained for a period of one year. The compulsory and voluntary elements of the EDIP deferred 2014 award vested on 20 February 2018 and was announced under RNS 4373F.

Vesting of the EDIP deferred 2016 award

 
                            Vested amount   Shares sold    Released amount 
                                             for tax and 
                                             expenses 
 Brian Gilvary (ordinary 
  shares)                   86,176          40,585         45,591 
 

This is the vesting and release of the deferred shares of the EDIP deferred plan awarded in 2017 in respect of the 2016 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 2017 to 2019.

Vesting of the EDIP Performance Share Award 2017-2019

The Company has determined that 71.2% of shares awarded under the EDIP performance share award 2017-2019 will vest. The rationale behind this determination will be detailed in the Directors' Remuneration Report contained in BP's Annual Report and Form 20-F 2019 to be published in March 2020. The released amount stated below will be retained for a period of three years.

 
                            Vested amount   Shares sold    Released amount 
                                             for tax and 
                                             expenses 
 
 Brian Gilvary (ordinary 
  shares)                   606,347         285,554        320,793 
 
 
 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                                 126,110 restricted share units (in the form of 
                                                                ordinary shares) awarded under the BP Executive 
                                                                Directors' Incentive Plan. 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                      Price(s)             Volume(s) 
                                                                   Nil consideration    126,110 
                                                                                       ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)        Aggregated information                                126,110 
             *    Volume                                          Nil consideration. Market value GBP4.575 
                                                                  Nil. Market value GBP576,953.25 
 
             *    Price 
 
 
             *    Total 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   18 February 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 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                                 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)                                      Price(s)             Volume(s) 
                                                                   Nil consideration    496,722 
                                                                                       ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)        Aggregated information                                496,722 
             *    Volume                                          Nil consideration. Market value GBP4.54344 
                                                                  Nil. Market value GBP2,256,826.60 
 
             *    Price 
 
 
             *    Total 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                    18 February 2020 
     --------------------------------------------------------  ------------------------------------------------------- 
 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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