Pearson PLC Director/PDMR Shareholding (4089Q)

TIDMPSON

RNS Number : 4089Q

Pearson PLC

11 September 2017

11 September 2017

Pearson plc - (the "Company")

Notification of Directors' 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. 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 5 May 2017.

2017 Award

On 11 September 2017, the Company made a grant of performance-related restricted shares to executive directors under the LTIP. This represents the company's annual grant of long-term incentives to executive directors for 2017.

The awards will vest on 1 May 2020 subject to the following performance conditions:

a) 40% of the award will be based on Pearson's earnings per share in 2019;

b) 30% of the award will be based on Pearson's return on invested capital in 2019; and

c) 30% of the award will be based on Pearson's total shareholder return performance relative to the constituents of the FTSE 100 Index over the three-year period 1 January 2017 to 31 December 2019

Details of the performance conditions can be found on the Company's website (https://www.pearson.com/corporate/investors) and will also be contained in the Directors' Remuneration Report for the year ending 31 December 2017.

Any shares which vest on 1 May 2020 will be subject to an additional two year holding period to 1 May 2022.

The awards are consistent with the remuneration policy approved by shareholders at the Annual General Meeting on 5 May 2017 and were made on the following basis:

 
            Name    Title    Restricted   Share price      Face value on date 
                               shares       on date             of award 
                               awarded      of award 
-----------------  -------  -----------  ------------  ------------------------- 
                                                            GBP        % of base 
                                                                         salary 
                                                                        at date 
                                                                        of award 
-----------------  -------  -----------  ------------  -------------  ---------- 
 John Fallon         CEO      366,000       586.00p     GBP2,144,760     275% 
-----------------  -------  -----------  ------------  -------------  ---------- 
 Coram Williams      CFO      215,000       586.00p     GBP1,259,900     245% 
-----------------  -------  -----------  ------------  -------------  ---------- 
 

The notification below is made in accordance with the requirements of the EU Market Abuse Regulation.

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                                    John Fallon 
----  --------------------------------------  ------------------------------------------- 
 2     Reason for the notification 
----  ----------------------------------------------------------------------------------- 
 a)    Position/status                         Chief executive 
----  --------------------------------------  ------------------------------------------- 
 b)    Initial notification                    Initial notification 
        /Amendment 
----  --------------------------------------  ------------------------------------------- 
 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                             Ordinary shares of 25 pence each in 
        of the financial                        Pearson plc 
        instrument, 
        type of instrument                      ISIN: GB0006776081 
        Identification 
        code 
----  --------------------------------------  ------------------------------------------- 
 b)    Nature of                               Award of performance-related restricted 
        the transaction                         shares under the Long-Term Incentive 
                                                Plan 
----  --------------------------------------  ------------------------------------------- 
 c)    Price(s) and                            Price(s)              Volume(s) 
        volume(s) 
----  --------------------------------------  --------------------  --------------------- 
   n/a                                                               366,000 
  ----------------------------------------------------------------  --------------------- 
 d)    Aggregated                              n/a 
        information 
        - Aggregated 
        volume 
        - Price 
----  --------------------------------------  ------------------------------------------- 
 e)    Date of the                             11 September 2017 
        transaction 
----  --------------------------------------  ------------------------------------------- 
 f)    Place of the                            n/a 
        transaction 
----  --------------------------------------  ------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
----  ----------------------------------------------------------------------------------- 
 a)    Name                                    Coram Williams 
----  --------------------------------------  ------------------------------------------- 
 2     Reason for the notification 
----  ----------------------------------------------------------------------------------- 
 a)    Position/status                         Chief financial officer 
----  --------------------------------------  ------------------------------------------- 
 b)    Initial notification                    Initial notification 
        /Amendment 
----  --------------------------------------  ------------------------------------------- 
 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                             Ordinary shares of 25 pence each in 
        of the financial                        Pearson plc 
        instrument, 
        type of instrument                      ISIN: GB0006776081 
        Identification 
        code 
----  --------------------------------------  ------------------------------------------- 
 b)    Nature of                               Award of performance-related restricted 
        the transaction                         shares under the Long-Term Incentive 
                                                Plan 
----  --------------------------------------  ------------------------------------------- 
 c)    Price(s) and                            Price(s)              Volume(s) 
        volume(s) 
----  --------------------------------------  --------------------  --------------------- 
   n/a                                                               215,000 
  ----------------------------------------------------------------  --------------------- 
 d)    Aggregated                              n/a 
        information 
        - Aggregated 
        volume 
        - Price 
----  --------------------------------------  ------------------------------------------- 
 e)    Date of the                             11 September 2017 
        transaction 
----  --------------------------------------  ------------------------------------------- 
 f)    Place of the                            n/a 
        transaction 
----  --------------------------------------  ------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 11, 2017 10:11 ET (14:11 GMT)