REG - Pearson PLC - Director/PDMR Shareholding

PearsonAnnouncement

08/08/2019 14:25

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)




 




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