BP PLC Director/PDMR Shareholding (5696A)
02 Junio 2021 - 04:22AM
UK Regulatory
TIDMBP.
RNS Number : 5696A
BP PLC
02 June 2021
BP p.l.c.
Notification of transactions of persons discharging managerial
responsibility or connected persons
EDIP performance shares 2021-2023 award
BP p.l.c. (the "Company") announces that, on 1 June 2021,
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 directors' remuneration policy
(the "Policy") which was approved by shareholders on 27 May 2020
and as provided for in the 2020 directors' remuneration report
approved by shareholders on 12 May 2021.
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 12 May 2021.
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 bp's 2020 directors' remuneration
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, Exxon,
Repsol, Shell and Total;
-- Return on average capital employed (20%);
-- EBIDA compound annual growth rate per share (20%); and
-- Strategic progress (40%) assessed in line with the following measures:
o Deliver value through a resilient and focused hydrocarbon
business;
o Demonstrate track record, scale and value in low carbon
electricity and energy; and
o Accelerate growth in customers and products.
Number of shares subject to award
Name Award
Bernard Looney 2,218,853 ordinary shares
Murray Auchincloss 1,122,009 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
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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 2,218,853 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 2,218,853
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information 2,218,853
* Volume Nil consideration. Market value GBP3.01
Nil. Market value GBP6,678,747.53
* Price
* Total
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 June 2021
-------------------------------------------------------- -------------------------------------------------------
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 1,122,009 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 1,122,009
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information 1,122,009
* Volume Nil consideration. Market value GBP3.01
Nil. Market value GBP3,377,247.09
* Price
* Total
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 1 June 2021
-------------------------------------------------------- -------------------------------------------------------
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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