Last checked at 4 May 2023 16:31
BP p.l.c.
Notification of transactions of persons discharging managerial responsibility or connected persons
EDIP deferred shares 2022 award
BP p.l.c. (the "Company") announces that on 2 May 2023 the following conditional share awards (the "Awards") were made to the executive directors 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 Awards represent thirty-three per cent of the 2022 annual bonus which is required to be deferred into ordinary shares. In calculating the number of bp shares over which these Awards have been made, the Remuneration 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).
Number of shares subject to award
Name | Award |
Bernard Looney | 147,567 ordinary shares |
Murray Auchincloss | 87,584 ordinary shares |
These awards will vest in three years in accordance with the rules of the Plan. 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 | 147,567 conditional 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 |
147,567
Nil consideration. Market value £5.29
Nil consideration. Market value £780,629.43 | ||||
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 | 87,584 conditional 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 |
87,584
Nil consideration. Market value £5.29
Nil consideration. Market value £463,319.36 | ||||
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.