3rd Mar 2015 18:27
ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV
3 March 2015
Director/PDMR Shareholdings
Reed Elsevier announces that on 2 and 3 March 2015 it received notification of the following transactions in the securities of Reed Elsevier by Erik Engstrom and Nick Luff, Directors, and Ian Fraser and Henry Udow, PDMRs:
(a) Reed Elsevier Group plc Bonus Investment Plan 2010 ("BIP")
Vesting of matching shares
In connection with the vesting on 27 February 2015 of the share awards granted in May 2012 under BIP, the table below shows the total numbers of shares which vested and the numbers of shares actually released to Erik Engstrom, Ian Fraser and Henry Udow after taking account of shares withheld to meet personal tax and social security obligations.
No. of Reed Elsevier PLC ordinary shares/ADRs* vested | No. of Reed Elsevier NV ordinary shares/ADRs* vested | No. of Reed Elsevier PLC ordinary shares/ADRs* released | No. of Reed Elsevier NV ordinary shares/ADRs* released | |
Director | ||||
Erik Engstrom | 66,304* | 35,141* | ||
PDMR | ||||
Ian Fraser | 39,461 | 20,914 | ||
Henry Udow | 42,034 | 22,278 | ||
10,327* | 5,473* |
*Denotes vesting/release of ADRs. Each Reed Elsevier PLC ADR represents 4 Reed Elsevier PLC ordinary shares. Each Reed Elsevier NV ADR represents 2 Reed Elsevier NV ordinary shares.
The closing market price of each security on the date of vesting was £11.18 per Reed Elsevier PLC ordinary share, $69.02 per Reed Elsevier PLC ADR and $49.58 per Reed Elsevier NV ADR.
(b) Reed Elsevier Group plc Long Term Incentive Plan ("LTIP")
Vesting of performance shares
In connection with the vesting on 27 February 2015 of the share awards granted in May 2012 under LTIP, the table below shows the total numbers of shares which vested and the numbers of shares actually released to Ian Fraser and Henry Udow after taking account of shares withheld to meet personal tax and social security obligations.
No. of Reed Elsevier PLC ordinary shares vested | No. of Reed Elsevier NV ordinary shares vested | No. of Reed Elsevier PLC ordinary shares released | No. of Reed Elsevier NV ordinary shares released | |
PDMR | ||||
Ian Fraser | 56,499 | 39,708 | 29,944 | 21,045 |
Henry Udow | 52,875 | 37,161 | 28,023 | 19,695 |
The closing market price of each security on the date of vesting was £11.18 per Reed Elsevier PLC ordinary share and €22.20 per Reed Elsevier NV ordinary share.
(c) Reed Elsevier Group plc Growth Plan 2010 ("REGP")
Vesting of Deferred Performance shares
In connection with the vesting on 27 February 2015 of the shares awarded in May 2010 under REGP (which were performance tested in H1 2013 and became deferred performance shares at that time), the table below shows the total numbers of shares which vested and the numbers of shares actually released to Erik Engstrom after taking account of shares withheld to meet personal tax and social security obligations.
No. of Reed Elsevier PLC ordinary shares vested | No. of Reed Elsevier NV ordinary shares vested | No. of Reed Elsevier PLC ordinary shares released | No. of Reed Elsevier NV ordinary shares released | |
Director | ||||
Erik Engstrom | 214,855 | 141,094 | 113,873 | 74,779 |
Vesting of Matching shares
In connection with the vesting on 27 February 2015 of the matching shares awarded in April 2013, under REGP, the table below shows the total number of shares which vested and the numbers of shares actually released to Erik Engstrom after taking account of shares withheld to meet personal tax and social security obligations.
No. of Reed Elsevier PLC ordinary shares/ADRs* vested | No. of Reed Elsevier NV ordinary shares/ADRs* vested | No. of Reed Elsevier PLC ordinary shares/ADRs* released | No. of Reed Elsevier NV ordinary shares/ADRs* released | |
Director | ||||
Erik Engstrom | 262,114 | 344,722 | 138,920 | 182,702 |
3,654* | 21,283* | 1,936* | 11,279* | |
*Denotes vesting/release of ADRs. Each Reed Elsevier PLC ADR represents 4 Reed Elsevier PLC ordinary shares. Each Reed Elsevier NV ADR represents 2 Reed Elsevier NV ordinary shares.
The closing market price of each security on the date of vesting was £11.18 per Reed Elsevier PLC ordinary share, €22.20 per Reed Elsevier NV ordinary share, $69.02 per Reed Elsevier PLC ADR and $49.58 per Reed Elsevier NV ADR.
(d) Vesting of performance shares
In connection with the vesting on 27 February 2015 of the one-off share award granted to Nick Luff in September 2014 to compensate him for the forfeiture of awards from his former employer, the table below shows the total number of shares which vested and the number of shares actually released to Nick Luff after taking account of shares withheld to meet personal tax and social security obligations.
No. of Reed Elsevier PLC ordinary shares vested | No. of Reed Elsevier NV ordinary shares vested | No. of Reed Elsevier PLC ordinary shares released | No. of Reed Elsevier NV ordinary shares released | |
Director | ||||
Nick Luff | 65,656 | 46,963 | 34,797 | 24,890 |
The closing market price of each security on the date of vesting was £11.18 per Reed Elsevier PLC ordinary share and €22.20 per Reed Elsevier NV ordinary share.
(e) Sale of shares
On 3 March 2015 Erik Engstrom, sold the following securities set out below.
No. of Reed Elsevier PLC ordinary shares sold | Price per Reed Elsevier PLC ordinary share | No. of Reed Elsevier NV ordinary shares sold | Price per Reed Elsevier NV ordinary share | |
Director | ||||
Erik Engstrom | 11,512 | £11.1579 | 5,209 | €22.2886 |
(f) Purchase of shares
On 3 March 2015 Nick Luff purchased the following securities set out below.
No. of Reed Elsevier PLC ordinary shares purchased | Price per Reed Elsevier PLC ordinary share | No. of Reed Elsevier NV ordinary shares purchased | Price per Reed Elsevier NV ordinary share | |
Director | ||||
Nick Luff | 15,550 | £11.2071 | 10,620 | €22.48 |
Following these transactions, the current interests of Erik Engstrom and Nick Luff in the share capital of Reed Elsevier PLC and Reed Elsevier NV are:
No. of Reed Elsevier PLC ordinary shares | No. of Reed Elsevier NV ordinary shares | |
Director | ||
Erik Engstrom | 367,577 | 861,877 |
Nick Luff | 67,534 | 47,616 |
- ENDS -
Enquiries
Paul Abrahams (Media) +44 20 7166 5724
Colin Tennant (Investors)
+44 20 7166 5751
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