BP PLC Director/PDMR Shareholding (6588D)
February 20 2020 - 10:49AM
UK Regulatory
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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