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 2 September 2019 and notified to the Company on 4 September 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 2 September 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
Shares sold to discharge tax liabilities
Sale price per share (£)
Shares / ADRs Retained
President, North America
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
Details of the person discharging managerial responsibilities/person closely associated
Reason for the notification
President, North America
Initial notification /Amendment
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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
Description of the financial instrument, type of instrument
Ordinary shares of 25 pence each in Pearson plc
American Depositary Receipts (ADRs) in Pearson plc
(each ADR represents one ordinary share of 25 pence in Pearson plc)
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
Price(s) and volume(s)
Price : n/a
Price: £8.39 per share
Aggregated price: £183,439
- Aggregated volume
Aggregated volume: see 4 (c) above
Aggregated price: see 4 (c) above
Date of the transaction
2 September 2019
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.
Create your account: sign up and get ahead on news and events
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...