Last checked at 25 Sep 2020 15:20
Pearson plc - (the "Company")
Notification of PDMR Interests
The Company hereby confirms that Mr Bird has purchased Pearson shares at an aggregate cost to him of $3.75 million (the "Investment Shares"), as required under the terms of his remuneration package as Chief Executive, as described in a circular to shareholders dated 28 August 2020 and approved at a general meeting of the Company on 18 September 2020. The Investment Shares were purchased in the form of ordinary shares on the London Stock Exchange, to be converted to American Depositary Receipts (ADRs) under the Company's sponsored ADR program on the New York Stock Exchange.
The following notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives 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 | Andy Bird |
2 | Reason for the notification | |
a) | Position/status | Non-executive Director and Chief Executive-elect |
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 | Purchase of ordinary shares in accordance with the terms of Mr Bird's remuneration package, to be converted into ADRs |
c) | Price(s) and volume(s) | Volume: (i) 500,000 ordinary shares (ii) 85,000 ordinary shares Price: (i) £4.953537 per share (ii) £5.105000 per share |
d) | Aggregated information - Aggregated volume - Price | Aggregated volume: see 4 (c) above Aggregated price: (i) £2,476,768.50 ($3,190,400 inclusive of fees) (ii) £433,925 ($560,770.50 inclusive of fees)
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e) | Date of the transaction | (i) 22 September 2020 (ii) 23 September 2020
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f) | Place of the transaction | London Stock Exchange (XLON) |