BP PLC Director/PDMR Shareholding (9484V)
12 Agosto 2020 - 8:00AM
UK Regulatory
TIDMBP.
RNS Number : 9484V
BP PLC
12 August 2020
BP p.l.c.
Notification of transactions of persons discharging managerial
responsibility or person closely associated
EDIP performance shares 2020-2022 award
BP p.l.c. (the "Company") announces that, on 11 August 2020,
conditional performance share awards (the "Awards") were made under
the BP Executive Directors' Incentive Plan (the "Plan"). The Awards
follow the approval by shareholders of the directors' remuneration
policy (the "Policy") and Plan rules at the annual general meeting
held on 27 May 2020.
In assessing the pricing of these awards, as well as the
performance conditions attaching to them, the Remuneration
Committee (the "Committee") has carefully considered recent market
conditions, the new strategy, targets and aims to achieve bp's net
zero ambition, as announced on 4 August 2020, whilst also having
regard to the interests of investors with whom it has
consulted.
Level of award
The Committee has decided to maintain award levels at 500% of
base salary for the chief executive officer and 450% for the chief
financial officer, in line with the Policy, and in calculating the
number of bp shares over which these awards have been made, has
decided to apply the average price of bp shares over the 90 dealing
days prior to the grant date. In determining these factors, the
Committee has been very mindful of investor views regarding the
appropriateness of the pricing at which shares are granted and
hence the number of shares awarded. In selecting 90 dealing days as
the basis for pricing, the Committee reviewed share price data for
other time periods and concluded that 90 days represents a
reasonable basis for the grants. In tracking the performance
conditions attaching to these awards, the Committee commits to
shareholders that it intends to be guided by the shareholder
experience over the course of the three-year performance period
(2020-2022). Recipients of these Awards are being advised that the
Committee retains discretion to adjust the formulaic reward outcome
at the time of vesting should it not reflect the shareholder
experience over the performance period or be otherwise inconsistent
with the magnitude of award contemplated.
Performance conditions
As set out in the Policy, Awards will vest relative to
performance achieved against a combination of the following
financial and strategic measures:
-- Relative total shareholder return (40%) assessed against a
benchmarking group, comprising Chevron, Eni, Equinor, Exxon,
Repsol, Shell and Total;
-- Return on average capital employed (30%). This will be
assessed on a three-year average basis, with no adjustment for
market conditions; and
-- Low carbon/energy transition (30%).
More details, including the specific targets for the low
carbon/energy transition category will be outlined after the
capital markets day in September and included in the 2020 bp Annual
Report and Form 20-F.
Number of shares subject to award
Name Award
Bernard Looney 2,076,677 ordinary
shares
Murray Auchincloss 999,201 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.
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 Ordinary shares of $0.25
instrument GB0007980591
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction 2,076,677 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 2,076,677
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information 2,076,677
* Volume Nil consideration. Market value GBP3.13
Nil. Market value GBP6,499,999.01
* Price
* Total
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 11 August 2020
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary shares of $0.25
instrument GB0007980591
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction 999,201 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 999,201
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information 999,201
* Volume Nil consideration. Market value GBP3.13
Nil. Market value GBP3,127,499.13
* Price
* Total
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 11 August 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
DSHKKBBNDBKDQFD
(END) Dow Jones Newswires
August 12, 2020 09:00 ET (13:00 GMT)
Bp (LSE:0HKP)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Bp (LSE:0HKP)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
