REG - Reed Elsevier PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">REL.L</Origin>

RelxAnnouncement

03/03/2015 18:30

RNS Number : 4557G
Reed Elsevier PLC
03 March 2015
ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV
3 March 2015
Director/PDMR Shareholdings
Reed Elsevier announces that on 2 and 3 March 2015 it received notification of the following transactions in the securities of Reed Elsevier by Erik Engstrom and Nick Luff, Directors, and Ian Fraser and Henry Udow, PDMRs:
(a) Reed Elsevier Group plc Bonus Investment Plan 2010 ("BIP")
Vesting of matching shares
In connection with the vesting on 27 February 2015 of the share awards granted in May 2012 under BIP, the table below shows the total numbers of shares which vested and the numbers of shares actually released to Erik Engstrom, Ian Fraser and Henry Udow after taking account of shares withheld to meet personal tax and social security obligations.

No. of Reed Elsevier PLC ordinary shares/ADRs* vested
No. of Reed Elsevier NV ordinary shares/ADRs* vested
No. of Reed Elsevier PLC ordinary shares/ADRs* released
No. of Reed Elsevier NV ordinary shares/ADRs* released
Director




Erik Engstrom

66,304*

35,141*





PDMR




Ian Fraser
39,461

20,914











Henry Udow
42,034

22,278


10,327*

5,473*

*Denotes vesting/release of ADRs. Each Reed Elsevier PLC ADR represents 4 Reed Elsevier PLC ordinary shares. Each Reed Elsevier NV ADR represents 2 Reed Elsevier NV ordinary shares.
The closing market price of each security on the date of vesting was 11.18 per Reed Elsevier PLC ordinary share, $69.02 per Reed Elsevier PLC ADR and $49.58 per Reed Elsevier NV ADR.
(b) Reed Elsevier Group plc Long Term Incentive Plan ("LTIP")
Vesting of performance shares
In connection with the vesting on 27 February 2015 of the share awards granted in May 2012 under LTIP, the table below shows the total numbers of shares which vested and the numbers of shares actually released to Ian Fraser and Henry Udow after taking account of shares withheld to meet personal tax and social security obligations.

No. of Reed Elsevier PLC ordinary shares vested
No. of Reed Elsevier NV ordinary shares vested
No. of Reed Elsevier PLC ordinary shares released
No. of Reed Elsevier NV ordinary shares released
PDMR




Ian Fraser
56,499
39,708
29,944
21,045










Henry Udow
52,875
37,161
28,023
19,695





The closing market price of each security on the date of vesting was 11.18 per Reed Elsevier PLC ordinary share and 22.20 per Reed Elsevier NV ordinary share.
(c) Reed Elsevier Group plc Growth Plan 2010 ("REGP")
Vesting of Deferred Performance shares
In connection with the vesting on 27 February 2015 of the shares awarded in May 2010 under REGP (which were performance tested in H1 2013 and became deferred performance shares at that time), the table below shows the total numbers of shares which vested and the numbers of shares actually released to Erik Engstrom after taking account of shares withheld to meet personal tax and social security obligations.

No. of Reed Elsevier PLC ordinary shares vested
No. of Reed Elsevier NV ordinary shares vested
No. of Reed Elsevier PLC ordinary shares released
No. of Reed Elsevier NV ordinary shares released
Director




Erik Engstrom
214,855
141,094
113,873
74,779
Vesting of Matching shares
In connection with the vesting on 27 February 2015 of the matching shares awarded in April 2013, under REGP, the table below shows the total number of shares which vested and the numbers of shares actually released to Erik Engstrom after taking account of shares withheld to meet personal tax and social security obligations.

No. of Reed Elsevier PLC ordinary shares/ADRs* vested
No. of Reed Elsevier NV ordinary shares/ADRs* vested
No. of Reed Elsevier PLC ordinary shares/ADRs* released
No. of Reed Elsevier NV ordinary shares/ADRs* released
Director




Erik Engstrom
262,114
344,722
138,920
182,702

3,654*
21,283*
1,936*
11,279*





*Denotes vesting/release of ADRs. Each Reed Elsevier PLC ADR represents 4 Reed Elsevier PLC ordinary shares. Each Reed Elsevier NV ADR represents 2 Reed Elsevier NV ordinary shares. 
The closing market price of each security on the date of vesting was 11.18 per Reed Elsevier PLC ordinary share, 22.20 per Reed Elsevier NV ordinary share, $69.02 per Reed Elsevier PLC ADR and $49.58 per Reed Elsevier NV ADR.
(d) Vesting of performance shares
In connection with the vesting on 27 February 2015 of the one-off share award granted to Nick Luff in September 2014 to compensate him for the forfeiture of awards from his former employer, the table below shows the total number of shares which vested and the number of shares actually released to Nick Luff after taking account of shares withheld to meet personal tax and social security obligations.

No. of Reed Elsevier PLC ordinary shares vested
No. of Reed Elsevier NV ordinary shares vested
No. of Reed Elsevier PLC ordinary shares released
No. of Reed Elsevier NV ordinary shares released
Director




Nick Luff
65,656
46,963
34,797
24,890
The closing market price of each security on the date of vesting was 11.18 per Reed Elsevier PLC ordinary share and 22.20 per Reed Elsevier NV ordinary share.
(e) Sale of shares
On 3 March 2015 Erik Engstrom, sold the following securities set out below.

No. of Reed Elsevier PLC ordinary shares sold
Price per Reed Elsevier PLC ordinary share
No. of Reed Elsevier NV ordinary shares sold
Price per Reed Elsevier NV ordinary share 
Director




Erik Engstrom
11,512
11.1579
5,209
22.2886
(f) Purchase of shares
On 3 March 2015 Nick Luff purchased the following securities set out below.

No. of Reed Elsevier PLC ordinary shares purchased
Price per Reed Elsevier PLC ordinary share
No. of Reed Elsevier NV ordinary shares purchased
Price per Reed Elsevier NV ordinary share
Director




Nick Luff
15,550
11.2071
10,620
22.48
Following these transactions, the current interests of Erik Engstrom and Nick Luff in the share capital of Reed Elsevier PLC and Reed Elsevier NV are:

No. of Reed Elsevier PLC ordinary shares
No. of Reed Elsevier NV ordinary shares
Director


Erik Engstrom
367,577
861,877
Nick Luff
67,534
47,616
- ENDS -
Enquiries
Paul Abrahams (Media) 
+44 20 7166 5724 

Colin Tennant (Investors)
+44 20 7166 5751

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