Director/PDMR Shareholding

RNS Number : 5323Y
Pearson PLC
09 May 2019
 

Pearson plc - (the "Company")

Notification of PDMR Interests

 

Long-Term Incentive Plan ("LTIP") - 2019 Vesting

 

On 3 May 2016, the Company made a grant of performance-related restricted shares to members of the Pearson Executive under the shareholder approved LTIP which vested on 3 May 2019. Under the terms of the LTIP, the shares released to participants on 3 May 2019 are based on Pearson's performance over the three-year period from 2016 to 2018 and the share price on 31 December 2018 and continued employment throughout the period to the vesting date. Further, the participants are required to retain the shares released (after any sales to discharge tax liabilities) for a two-year holding period following vesting.

 

The following table sets out the number of shares released to Persons Discharging Managerial Responsibility (PDMR) on 3 May 2019 and notified to the Company on 7 May 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 3 May 2019 at the price shown in the fifth column below and with the number set out in the sixth column below being retained by the PDMR (either as ordinary shares or ADRs, as indicated in that column).

 

Name of Director / PDMR

Title

Shares Released

Shares sold to discharge tax liabilities

Sale price per share (£)

Shares / ADRs Retained

Tim Bozik


President Global Product

78,634

32,630

£8.137

46,004 ADRs

Rod Bristow

President UK & Core Markets

78,634

37,088

£8.137

41,546 shares

John Fallon

Chief Executive Officer

132,589

62,536

£8.137

70,053 shares

Giovanni Giovannelli

President Growth Markets

78,634

38,777

£8.137

39,857 shares

Albert Hitchcock

Chief Technology & Operations Officer

87,371

41,209

£8.137

46,162 shares

Bob Whelan

President Pearson Assessments

78,634

37,365

£8.137

41,269 ADRs

Coram Williams


Chief Financial Officer

76,854

22,367

£8.137

54,487 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

Tim Bozik

2

Reason for the notification

a)

Position/status

President Global Product

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: 78,634

Price : n/a

Volume: 32,630

Price: £8.137 per share

Aggregated price: £265,510.31

Volume: 46,004

Price: n/a

 

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume: see 4 (c) above

Aggregated price: see 4 (c) above

e)

Date of the transaction

3 May 2019

f)

Place of the transaction

London Stock Exchange (XLON)

New York Stock Exchange (NYSE)

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Rod Bristow

2

Reason for the notification

a)

Position/status

President UK & Core Markets

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: 78,634

Price : n/a

Volume: 37,088

Price: £8.137 per share

Aggregated price: £301,785.06

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume: see 4 (c) above

Aggregated price: see 4 (c) above

e)

Date of the transaction

3 May 2019

f)

Place of the transaction

London Stock Exchange (XLON)

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

John Fallon

2

Reason for the notification

a)

Position/status

Chief Executive 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: 132,589

Price : n/a

Volume: 62,536

Price: £8.137 per share

Aggregated price: £508,855.43

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume: see 4 (c) above

Aggregated price: see 4 (c) above

e)

Date of the transaction

3 May 2019

f)

Place of the transaction

London Stock Exchange (XLON)

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Giovanni Giovannelli

2

Reason for the notification

a)

Position/status

President Growth Markets

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: 78,634

Price : n/a

Volume: 38,777

Price: £8.137 per share

Aggregated price: £315,528.45

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume: see 4 (c) above

Aggregated price: see 4 (c) above

e)

Date of the transaction

3 May 2019

f)

Place of the transaction

London Stock Exchange (XLON)

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Albert Hitchcock

2

Reason for the notification

a)

Position/status

Chief Technology & Operations 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: 87,371

Price : n/a

Volume: 41,209

Price: £8.137 per share

Aggregated price: £335.317.63

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume: see 4 (c) above

Aggregated price: see 4 (c) above

e)

Date of the transaction

3 May 2019

f)

Place of the transaction

London Stock Exchange (XLON)

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Bob Whelan

2

Reason for the notification

a)

Position/status

President Pearson Assessments

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: 78,634

Price : n/a

Volume: 37,365

Price: £8.137 per share

Aggregated price: £304,039.01

Volume: 41,269

Price: n/a

 

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume: see 4 (c) above

Aggregated price: see 4 (c) above

e)

Date of the transaction

3 May 2019

f)

Place of the transaction

London Stock Exchange (XLON)

New York Stock Exchange (NYSE)

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Coram Williams

2

Reason for the notification

a)

Position/status

Chief Financial 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: 76,854

Price : n/a

Volume: 22,367

Price: £8.137 per share

Aggregated price: £182,000.28

d)

Aggregated information

- Aggregated volume

- Price

Aggregated volume: see 4 (c) above

Aggregated price: see 4 (c) above

e)

Date of the transaction

3 May 2019

f)

Place of the transaction

London Stock Exchange (XLON)

 


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Companies

Pearson (PSON)
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