Report of Foreign Issuer (6-k)
May 09 2018 - 8:05AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the
month of May 2018
PEARSON plc
(Exact
name of registrant as specified in its charter)
N/A
(Translation
of registrant's name into English)
80 Strand
London, England WC2R 0RL
44-20-7010-2000
(Address
of principal executive office)
Indicate
by check mark whether the Registrant files or will file annual
reports
under
cover of Form 20-F or Form 40-F:
Form
20-F
X
Form 40-F
Indicate
by check mark whether the Registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934
Yes
No X
9 May 2018
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.
2018 Award
On 8
May 2018, 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 2018.
The
awards will vest on 1 May 2021 subject to the following performance
conditions:
a)
One-third of the award will be based on Pearson's earnings per
share in 2020;
b)
One-third of the award will be based on Pearson's return on
invested capital in 2020; and
c)
One-third 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 2018 to 31 December
2020
Details
of the performance conditions can be found in the Directors'
Remuneration Report contained in the Annual Report for the year
ending 31 December 2017. Any shares which vest on 1 May 2021 will
be subject to an additional two year holding period to 1 May
2023.
The
awards were made on the following basis:
Name
|
Title
|
Restricted shares awarded
|
Share price on date of award
|
Face value on date of award
|
£
|
% of base salary at date of award
|
John
Fallon
|
CEO
|
246,000
|
893.60p
|
£2,198,256
|
275%
|
Coram
Williams
|
CFO
|
145,000
|
893.60p
|
£1,295,720
|
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 /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
|
246,000
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Aggregated
volume: 246,000 shares
Aggregated price: n/a
|
e)
|
Date of the transaction
|
8 May
2018
|
f)
|
Place of the transaction
|
n/a
|
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 /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
|
145,000
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
Aggregated
volume: 145,000 shares
Aggregated
price: n/a
|
e)
|
Date of the transaction
|
8 May
2018
|
f)
|
Place of the transaction
|
n/a
|
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
PEARSON
plc
|
|
|
Date:
09
May 2018
|
|
|
By: /s/
NATALIE WHITE
|
|
|
|
------------------------------------
|
|
Natalie
White
|
|
Deputy
Company Secretary
|
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