Last checked at 8 Aug 2019 14:22
Pearson plc - (the "Company")
Notification of PDMR Interests
Long-Term Incentive Plan ("LTIP") - 2019 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.
The following table sets out the number of shares released to Persons Discharging Managerial Responsibility (PDMR) on 6 August 2019 and notified to the Company on 7 August 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 fourth column below were sold on 6 August 2019 at the price shown, with the number of American Depositary Receipts (ADRs) set out in the sixth column below being allotted to and retained by the PDMR towards meeting their shareholding guideline.
Name of PDMR | Title | Shares Released | Shares sold to discharge tax liabilities | Sale price per share (£) | Shares / ADRs Retained |
Bjarne Tellmann | General Counsel and Chief Legal Officer | 93,247 | 45,663 | 8.390063 | 47,584 ADRs |
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 | Bjarne Tellmann | ||
2 | Reason for the notification | |||
a) | Position/status | General Counsel and Chief Legal 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 | 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 Ordinary Shares following release of Long-Term incentive Plan award | Sale of shares to cover tax liabilities | Allotment of remaining shares to ADRs following release of Long-Term Incentive Plan award |
c) | Price(s) and volume(s) | Volume: 93,247 Price : n/a | Volume:45,663 Price: £8.390063 per share Aggregated price: £383,115.45 | Volume: 47,584 Price: n/a
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d) | Aggregated information - Aggregated volume - Price | Aggregated volume: see 4 (c) above Aggregated price: see 4 (c) above | ||
e) | Date of the transaction | 6 August 2019 | ||
f) | Place of the transaction | London Stock Exchange (XLON) | New York Stock Exchange (NYSE) | |