REG - Pearson PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">PSON.L</Origin>

PearsonAnnouncement

03/05/2016 16:11

RNS Number : 1153X
Pearson PLC
03 May 2016
3 May 2016 
Pearson plc (the "Company") 
Notification of Directors' and PDMRs' Interests 
Long-Term Incentive Plan 
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. The LTIP was renewed and approved by shareholders in 2011. The operation of the LTIP is governed by the remuneration policy approved by shareholders at the Annual General Meeting on 25 April 2014.
2016 Award 
On 3 May 2016, the Company made a grant of performance-related restricted shares to executive directors and other members of the Pearson Executive under the LTIP. This represents the company's annual grant of long-term incentives to executive directors and other members of the Pearson Executive for 2016. 
The awards will vest on 3 May 2019 as follows: 
a) one-half of the award will be based on Pearson's earnings per share in 2018; 
b) one-third of the award will be based on Pearson's return on invested capital in 2018; and
c) one-sixth of the award will be based on Pearson's total shareholder return performance relative to the constituents of the FTSE World Media Index over the three-year period 1 January 2016 to 31 December 2018
Subject to meeting the performance conditions in full, and the retention of shares that vest on 3 May 2019 for a further two years, the maximum number of shares that John Fallon, CEO, may receive is: 383,000 and the maximum number of shares that Coram Williams, CFO, may receive is: 222,000.
The awards are consistent with the remuneration policy approved by shareholders at the Annual General Meeting on 25 April 2014 and were made on the following basis:
Name
Title
Restricted shares awarded
Share price on date of award
Face value on date of award
% of base salary at date of award
John Fallon
CEO
383,000
805.00p
3,083,150
395%
Coram Williams
CFO
222,000
805.00p
1,787,100
347%
Subject to meeting the performance conditions in full, and the retention of shares that vest on 3 May 2019 for a further two years, the maximum number of shares that the other members of the Pearson Executive may receive is as follows:
Name
Title
Restricted shares awarded
Albert Hitchcock
Chief Technology and Operations Officer
200,000
Tim Bozik
President Global Product
180,000
Rod Bristow
President Core Markets 
180,000
Don Kilburn
President North America 
180,000
Gio Giovanelli
President Growth Markets
180,000
Bob Whelan
President Pearson Assessments
180,000
Michael Barber
Chief Education Advisor
150,000
Kate James
Chief Corporate Affairs and Global Marketing Officer
160,000
Melinda Wolfe
Chief Human Resources Officer 
160,000
Further details of the LTIP and its performance measures are contained in Pearson's annual report and accounts. 
This notification is made in accordance with DTR 3.1.4R.

This information is provided by RNS
The company news service from the London Stock Exchange
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