Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 (6-k)
04 Maio 2023 - 03:44PM
Edgar (US Regulatory)
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
6-K
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
for the
period ended 04 May, 2023
BP
p.l.c.
(Translation of
registrant's name into English)
1
ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND
(Address of
principal executive offices)
Indicate by check
mark whether the registrant files or will file annual
reports
under cover Form 20-F or Form 40-F.
Form
20-F |X| Form 40-F
---------------
----------------
Indicate by check
mark whether the registrant by furnishing the
information
contained in this
Form is also thereby furnishing the information to the
Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No
|X|
---------------
--------------
|
Exhibit
1.1
|
Director/PDMR
Shareholding dated 04 May 2023
|
Exhibit 1.1
BP p.l.c.
Notification of transactions of persons discharging managerial
responsibility or connected persons
EDIP performance shares 2023-2025 award
BP p.l.c. (the "Company") announces that, on 2 May 2023, 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 2022 directors'
remuneration report (the "Report"), which were approved by shareholders on 27 April
2023.
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 27
April 2023 (£5.29).
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 (20%)
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%);
● Net
zero across entire bp operations by 2050 (scope 1 and 2) (15%);
and
● Strategic progress (25%) 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 convenience and mobility.
Number of shares subject to award
|
Name
|
Award
|
|
Bernard
Looney
|
1,368,828
ordinary shares
|
|
Murray
Auchincloss
|
717,958
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
|
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
|
1,368,828
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
|
1,368,828
|
|
d)
|
Aggregated
information
-
Volume
-
Price
-
Total
|
1,368,828
Nil
consideration. Market value £5.29
Nil
consideration. Market value £7,241,100.12
|
|
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
|
717,958
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
|
717,958
|
|
d)
|
Aggregated
information
-
Volume
-
Price
-
Total
|
717,958
Nil
consideration. Market value £5.29
Nil
consideration. Market value £3,797,997.82
|
|
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.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
|
|
BP
p.l.c.
|
|
|
(Registrant)
|
|
|
|
|
Dated: 04 May
2023
|
|
|
|
/s/ Ben
J. S. Mathews
|
|
|
------------------------
|
|
|
Ben J.
S. Mathews
|
|
|
Company
Secretary
|
BP (NYSE:BP)
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