SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
Form 6-K
 
 
Report of Foreign Issuer
 
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
 
for the period ended 04 May, 2023
 
 
BP p.l.c.
(Translation of registrant's name into English)
 
 
 
1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND
(Address of principal executive offices)
 
 
 
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
 
 
Form 20-F |X| Form 40-F
--------------- ----------------
 
 
 
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
 
 
 
Yes No |X|
--------------- --------------
 
 
 
Exhibit 1.1
Director/PDMR Shareholding dated 04 May 2023
 
 
Exhibit 1.1
 
 
BP p.l.c.
 
Notification of transactions of persons discharging managerial responsibility or connected persons
 
EDIP performance shares 2023-2025 award
 
BP p.l.c. (the "Company") announces that, on 2 May 2023, conditional performance share awards (the "Awards") were made under the bp Executive Directors' Incentive Plan (the "Plan"). The Awards were made in accordance with the rules of the Plan and the 2023 directors' remuneration policy (the "Policy") and as provided for in the 2022 directors' remuneration report (the "Report"), which were approved by shareholders on 27 April 2023.
 
Level of award
The Remuneration Committee (the "Committee") has made these Awards at 500% of base salary for the chief executive officer and 450% for the chief financial officer, in line with the Policy. In calculating the number of bp shares over which these Awards have been made, the Committee has applied the average price of bp shares over the 90 calendar days up to and including the annual general meeting that was held on 27 April 2023 (£5.29).
 
The Committee retains absolute discretion to adjust the formulaic outcome at the time of vesting of the Awards should it not reflect the shareholder experience over the performance period or be otherwise inconsistent with the size of the Award.
 
Performance conditions
As set out in the Policy and Report, Awards will vest subject to performance against a combination of the following financial and strategic measures:
 
 Relative total shareholder return (20%) assessed against a benchmarking group, comprising Chevron, Eni, Equinor, ExxonMobil, Repsol, Shell and TotalEnergies;
 Return on average capital employed (20%);
 Adjusted EBIDA compound annual growth rate per share (20%);
 Net zero across entire bp operations by 2050 (scope 1 and 2) (15%); and
●  Strategic progress (25%) assessed in line with the following measures:
 Deliver value through a resilient and focused hydrocarbon business;
 Demonstrate track record, scale and value in low carbon electricity and energy; and
 Accelerate growth in convenience and mobility.
 
Number of shares subject to award
Name
Award
Bernard Looney               
1,368,828 ordinary shares
Murray Auchincloss
717,958 ordinary shares
 
These awards will vest in three years and in proportion to the outcomes measured through the performance scorecard, with a holding period that requires the shares to be retained for a further three years. The executive directors will be entitled to the value of reinvested dividends on those ordinary shares which vest.
 
 
1
 
Details of the person discharging managerial responsibilities/person closely associated
 
a)
 
Name
 
Bernard Looney
 
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
 
Ordinary shares of $0.25
 
GB0007980591
 
b)
 
Nature of the transaction
 
1,368,828 performance 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
 1,368,828
 
d)
 
Aggregated information
-      Volume
 
-      Price
 
-      Total
 
 
1,368,828
 
Nil consideration. Market value £5.29
 
Nil consideration. Market value £7,241,100.12
e)
 
Date of the transaction
 
2 May 2023
 
f)
 
Place of the transaction
 
Outside a trading venue
 
 
 
 
1
 
Details of the person discharging managerial responsibilities/person closely associated
 
a)
 
Name
 
Murray Auchincloss
 
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
 
717,958 performance 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
 717,958
 
d)
 
Aggregated information
-      Volume
 
-      Price
 
-      Total
 
 
717,958
 
Nil consideration. Market value £5.29
 
Nil consideration. Market value £3,797,997.82
e)
 
Date of the transaction
 
2 May 2023
 
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.
 
 
 
 
 
 
 
SIGNATURES
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
 
BP p.l.c.
 
(Registrant)
 
 
Dated: 04 May 2023
 
 
/s/ Ben J. S. Mathews
 
------------------------
 
Ben J. S. Mathews
 
Company Secretary
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