REG - BP PLC - Director/PDMR Shareholding

BPAnnouncement

08/05/2024 10:00

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RNS Number : 4725N  BP PLC  08 May 2024

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  Ordinary shares of $0.25

     Identification code                                          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                                                1,482,617

     -      Price                                                 Nil consideration. Market value £4.89

     -      Total                                                 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

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  Ordinary shares of $0.25

     Identification code                                          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                                                736,196

     -      Price                                                 Nil consideration. Market value £4.89

     -      Total                                                 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

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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