Pearson plc - (the "Company")
Notification of PDMR Interests
Long-Term Incentive Plan ("LTIP") - 2015 New-Hire Time-vesting 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.
Restricted Share Award Granted in 2014
Under the terms of the LTIP, time-vested restricted shares can be granted to newly hired employees, with release dates agreed on an individual basis. These awards are not subject to any performance conditions, other than the participant remaining employed in the Pearson Group.
The following table sets out the number of shares released to a PDMR on 1 May 2015 under the 2014 LTIP award. The LTIP rules require that sufficient shares are sold to discharge the income tax and social contribution liability on the shares released. The shares set out in the third column below were sold on 1 May 2015 at an average price of £13.3485per share, leaving the after-tax number of shares set out in the final column below, which are being retained.
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Name of PDMR
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Shares Released
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Shares sold to discharge tax liabilities
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Shares Retained
|
|
Albert Hitchcock
|
34,967
|
16,435
|
18,532 ordinary shares
|
Interests of the PDMR
As a result of the above transactions, the PDMR is interested in the following shares (excluding shares to which they are notionally entitled or may become entitled, subject to the satisfaction of any relevant conditions, under the Company's employee share plans):
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Name of PDMR
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Number of Shares
|
% of Capital
|
|
Albert Hitchcock
|
18,532
|
0.00226%
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