Pearson PLC Director/PDMR Shareholding
04 May 2024 - 12:28AM
RNS Regulatory News
RNS Number : 2459N
Pearson PLC
03 May 2024
Pearson plc - (the
"Company")
Notification of Directors'
Interests
2024 Long-Term Incentive Plan
(LTIP) Awards
On 1 May 2024, the Company made a
grant of performance-related restricted shares under the 2024 LTIP,
including to the Chief Executive and Chief Financial Officer, under
the 2020 LTIP rules. This represents the company's annual grant of
long-term incentives for 2024. The award will vest on 1 May 2027
subject to the performance conditions and targets as set out in the
2023 annual report. Any shares which vest on 1 May 2027 will be
subject to an additional two-year holding period to 1 May 2029. The
award also attracts dividend equivalent awards.
The award is consistent with the
remuneration policy approved by shareholders at the 2023 Annual
General Meeting and was made on the following basis:
|
Name
|
Title
|
Restricted shares
awarded
|
% of Salary
|
Share price used to calculate
award
|
|
Omar Abbosh
|
Chief
Executive
|
455,614
|
450%
|
£9.8768
|
|
Sally Johnson
|
Chief
Financial Officer
|
174,348
|
300%
|
£9.8768
|
The number of shares awarded to Omar
Abbosh and Sally Johnson was determined using the average
mid-market closing share price of the Company's ordinary shares as
traded on the London Stock Exchange for the five trading days up to
and including 30 April 2024, which is the share price used to
determine award values for LTIP awards to the wider employee
population (excluding those based in the US).
The Committee reserves the right to
adjust payouts up or down before they are released if it believes
that the vesting outcome does not reflect underlying financial or
non-financial performance or if such other exceptional factors
warrant doing so. In making such adjustments, the Committee is
guided by the principle of aligning shareholder and management
interests.
The notification below is made in
accordance with the requirements of the UK 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
|
Omar Abbosh
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive
|
|
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
|
|
b)
|
Nature of the transaction
|
Award of performance-related
restricted shares under the Long-Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
n/a
|
455,614
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Aggregated price: N/A
Aggregated volume: see 4 (c)
above
|
|
e)
|
Date of the transaction
|
1 May 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
a)
|
Name
|
Sally Johnson
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Financial 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
|
|
b)
|
Nature of the transaction
|
Award of performance-related
restricted shares under the Long-Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
n/a
|
174,348
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Aggregated price: N/A
Aggregated volume: see 4 (c)
above
|
|
e)
|
Date of the transaction
|
1 May 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
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