Director/PDMR Shareholding

Source: RNS
RNS Number : 8723U
Pearson PLC
02 April 2019
 

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)

 

 

 

 


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