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Pearson PLC

Director/PDMR Shareholding

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RNS Number : 4485I
Pearson PLC
08 August 2019
 

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

 

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)

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
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Quick facts: Pearson PLC

Price: £8.73

Market: LSE
Market Cap: £6.83 billion
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