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Pearson PLC (PSON)

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Friday 14 October, 2011

Pearson PLC

Director/PDMR Shareholding

RNS Number : 1985Q
Pearson PLC
14 October 2011
 



Pearson plc - (the "Company")

Notification of Directors' Interests

 

Long-Term Incentive Plan ("LTIP") - 2011 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.  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.

Restricted Share Awards Granted in 2006

Under the terms of the LTIP, three-quarters of any shares that vest are released to participants three years after an award is granted. The remaining quarter is released two years later, providing that the executive has retained the released shares and is still employed by the Company.

The following table sets out the number of shares released to directors on 13 October 2011 under the 2006 LTIP awards. The LTIP rules require that sufficient shares are sold to discharge the PAYE income tax liability on the shares released.  The shares set out in the third column below were sold on 13 October 2011 at a price of 1168.9p per share, leaving the after-tax number of shares set out in the final column below.

 

Name of Director

Shares Released

Shares Sold to discharge tax liabilities

Shares Retained

Will Ethridge

52,043

22,780

29,263

Rona Fairhead

36,430

18,944

17,486

Robin Freestone

32,527

16,915

15,612

John Makinson

36,430

18,944

17,486

Marjorie Scardino

117,094

57,224

59,870

 

Interests of the Directors

 

As a result of the above transactions, the executive directors are 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):

 

Name of Director

Number of shares

% of Capital

Will Ethridge

405,341

0.04974%

Rona Fairhead

425,023

0.05215%

Robin Freestone

308,731

0.03788%

John Makinson

438,667

0.05383%

Marjorie Scardino

1,396,244

0.17133%

 


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