BP p.l.c. / Director/PDMR Shareholding
BP p.l.c.: Release of a capital market information
08.05.2024 / 11:00 CET/CEST
Dissemination of a Post-admission Duties announcement transmitted
by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this
announcement.
BP p.l.c.
Notification of transactions of persons discharging
managerial responsibility or connected persons
EDIP performance shares 2024-2026 award
BP p.l.c. (the "Company") announces that, on 7 May 2024,
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 2023 directors'
remuneration report (the "Report"), which were approved
by shareholders on 27 April 2023 and 25 April 2024
respectively.
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 25 April 2024 (£4.89).
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 (25%) 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%);
- Cumulative reduction percentage in operated carbon emissions
(15%); and
- Strategic progress (20%) assessed in line with the following
measures:
o Deliver value through a resilient hydrocarbon
business;
o Demonstrate track record, scale and value in low
carbon energy; and
o Accelerate growth in convenience and mobility.
Number of shares subject to award
Name |
Award |
Murray Auchincloss |
1,482,617 ordinary shares |
Kate Thomson |
736,196 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 |
Murray Auchincloss |
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 |
1,482,617 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
1,482,617
|
d) |
Aggregated information
- Volume
- Price
- Total |
1,482,617
Nil consideration. Market value £4.89
Nil consideration. Market value £7,249,997.13 |
e) |
Date of the transaction |
7 May 2024 |
f) |
Place of the transaction |
Outside a trading venue |
1 |
Details of the person discharging
managerial responsibilities/person closely associated |
a) |
Name |
Kate Thomson |
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 |
736,196 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
736,196
|
d) |
Aggregated information
- Volume
- Price
- Total |
736,196
Nil consideration. Market value £4.89
Nil consideration. Market value £3,599,998.44 |
e) |
Date of the transaction |
7 May 2024 |
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.
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