Source - RNS
RNS Number : 6172L
Pearson PLC
04 October 2016
 

Pearson plc - (the "Company")

Notification of PDMR Interests

 

Long-Term Incentive Plan ("LTIP") - 2016 Time-Vesting Release

In 2001, the Company established the Pearson Long-Term Incentive Plan (the "LTIP"). Its purpose is to link management's long-term reward with Pearson's financial performance and returns to shareholders. 

 

Under the terms of the LTIP Time-Vesting Plan, all shares are released to participants on the vesting date, providing that the participant is still employed by the Company.

 

The following table sets out the number of shares released to a Person Discharging Managerial Responsibility (PDMR) on 3 October 2016 and notified to the Company on 3 October 2016. The LTIP rules require that sufficient shares are sold to discharge the tax liability arising on the shares released.  The shares set out in the third column below were sold on 3 October 2016 at the price shown, with the number of American Depositary Receipts (ADRs) set out in the fifth column below being allotted to and retained by the PDMR.

 

Name of PDMR

Shares Released

Shares sold to discharge tax liabilities

Sale price per share (£)

ADRs Retained

Melinda Wolfe

45,960

25,746

7.59

20,214

 

The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further detail.

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Melinda Wolfe

2

Reason for the notification

a)

Position/status

Chief Human Resources Officer

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Pearson plc

b)

LEI

2138004JBXWWJKIURC57

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 25 pence each in Pearson plc

 

ISIN: GB0006776081

b)

Nature of the transaction

Sale of shares to cover tax liabilities arising from vesting of Long-Term Incentive Plan award

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Sale price: £7.59 per share

25,746

 

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume: 25,746 shares

Aggregated price: £195,412.14

e)

Date of the transaction

3 October 2016

f)

Place of the transaction

London Stock Exchange (XLON)

 

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

American Depositary Receipts (ADRs) in Pearson plc

(each ADR represents one ordinary share of 25 pence in Pearson plc)

 

ISIN: US7050151056

b)

Nature of the transaction

Allotment of ADRs following release of Long-Term Incentive Plan award

c)

Price(s) and volume(s)

Price(s)

Volume(s)

n/a

20,214

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume:  20,214 ADRs

Aggregated price: n/a

 

e)

Date of the transaction

3 October 2016

f)

Place of the transaction

New York Stock Exchange (XNYS)

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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