Pearson plc - (the "Company")
Notification of PDMRs' Interests
Long-Term Incentive Plan ("LTIP") - 2015 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. Since 2006, the annual LTIP awards have been based around three performance measures: relative total shareholder return, return on invested capital and earnings per share growth.
Restricted Share Awards Granted in 2010
Under the terms of the LTIP, three-quarters of any shares that vest are released to participants three years after an award is granted. The remaining quarter is released two years later, providing that the executive has retained the released shares and is still employed by the Company.
The following table sets out the number of shares released to PDMRs on 5 March 2015 under the 2010 LTIP awards. The LTIP rules require that sufficient shares are sold to discharge the income tax and social contribution liability on the shares released. The shares set out in the third column below were sold on 5 March 2015 at an average price of 1444p per share, leaving the after-tax number of shares set out in the final column below.
|
Name of PDMR
|
Shares Released
|
Shares sold to discharge tax liabilities
|
Shares/ADRs Retained
|
|
John Fallon
|
16,943
|
7,964
|
8,979 ordinary shares
|
|
Robin Freestone
|
14,119
|
6,636
|
7,483 ordinary shares
|
|
Philip Hoffman
|
11,295
|
4,218
|
7,077 ADRs
|
Interests of the PDMRs
As a result of the above transactions, the PDMRs are interested in the following shares (excluding shares to which they are notionally entitled or may become entitled, subject to the satisfaction of any relevant conditions, under the Company's employee share plans):
|
Name of PDMR
|
Number of Shares/ADRs
|
% of Capital
|
|
John Fallon
|
291,126
|
0.03549%
|
|
Robin Freestone
|
251,766
|
0.03069%
|
|
Philip Hoffman
|
77,620
|
0.00946%
|