Last checked at 2 Apr 2019 13:48
Pearson plc - (the "Company")
Notification of PDMR Interests
Long-Term Incentive Plan ("LTIP") - 2019 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 Persons Discharging Managerial Responsibility (PDMR) on 1 April 2019 and notified to the Company on 1 April 2019. 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 1 April 2019 at the price shown, set out in the fifth column below being allotted to and retained by the PDMR towards meeting their shareholding guideline.
Name of PDMR | Shares Released | Shares sold to discharge tax liabilities | Sale price per share (£) | Shares Retained |
Jonathan Chocqueel-Mangan | 8,434 | 3,979 | 8.3961 | 4,455 shares |
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 | Jonathan Chocqueel-Mangan | |
2 | Reason for the notification | ||
a) | Position/status | Chief Strategy 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 | Allotment of Ordinary shares following release of Long-Term Incentive Plan award and Sale of shares to cover tax liabilities arising from vesting of Long-Term Incentive Plan award | |
c) | Price(s) and volume(s) | Allotment of Ordinary Shares following release of Long-Term incentive Plan award | Sale of shares to cover tax liabilities |
Volume: 8,434 Price : n/a | Volume: 3,979 Price: £8.3961 per share Aggregated price: £33,408.08 | ||
d) | Aggregated information - Aggregated volume - Price | Aggregated volume: see 4 (c) above Aggregated price: see 4 (c) above | |
e) | Date of the transaction | 1 April 2019 | |
f) | Place of the transaction | London Stock Exchange (XLON) | |