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 
     --------------------------------------------------------  ------------------------------------------------------- 
 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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