18th May 2007 10:30
Pearson PLC18 May 2007 PEARSON PLC (the "Company") Annual Bonus Share Matching Plan (the "Plan") On 19 April 2007, participants became entitled to ordinary shares in the Company("Shares") on maturity of their right to "matching shares" under the rules ofthe Plan (the "Rules"). Under the Plan, participants who invest their after-taxbonus in shares become entitled, without payment, to "matching shares" on aone-for-one basis if a corporate performance target is met over a five yearperiod. In relation to awards made on 19 April 2002, the five year performancetarget was met in 2007. Accordingly, under the Rules, participants are nowentitled to matching shares on a one-for-one basis. The pre-tax number of matching shares to which executive directors becameentitled is as follows:- Name of Director Number of Shares Rona Fairhead 933 The Rules require that sufficient shares are sold to discharge the PAYE incometax liability on the shares released. In consequence, the shares set out in thesecond column below were sold on 17 May 2007 at a price of 907p per share,leaving the after-tax number of shares set out in the final column below:- Name of Director Number of Shares Sold Number of Shares Retained Rona Fairhead 383 550 As a result, the executive director named below is interested in the followingshares (excluding shares to which they may become entitled , subject tosatisfaction of any relevant conditions, under the Company's employee shareschemes):- Name of Director Number of Shares % of Issued Share Capital Rona Fairhead 63,143 0.00783 The shares required to satisfy these awards have been sourced from an employeebenefit trust established by the Company. Each executive director is deemed forCompanies Act purposes to be interested in all the shares held by the trust. Asa result of the release of shares described above, the number of shares held byHalifax ESS Trustees (as trustee of the Pearson plc Employee Share OwnershipTrust) is 3,519,910 shares (representing 0.4362% of the Company's issuedordinary share capital). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Pearson