27th Sep 2006 09:30
Pearson PLC27 September 2006 Pearson plc (the Company) In 2001, the Company established the Pearson Long Term Incentive Plan (the Plan)for the purpose of providing a long-term share incentive for executive directorsand senior executives of the Pearson group. The Plan provided for the grant oftwo separate categories of award relating to ordinary shares in the Company(Shares) - option awards and restricted share awards. Restricted Share Awards Granted on 26 September 2003 The first tranche of the restricted share awards granted on 26 September 2003,to executive directors and other members of the Pearson Management Committee,vested on 26 September 2006. As a result of these Shares being released, the following executive directorshave become entitled to the number of Shares shown in the second column below.The number of Shares shown in the third column below were sold on 26 September2006 at a price of 746.878 pence per share in order to discharge tax and socialsecurity liabilities on the Shares received, leaving the after-tax number ofShares set out in the final column below. Name of Director Shares Released Shares Sold to Shares Retained discharge tax liabilities David Bell 16,480 6,757 9,723Rona Fairhead 16,480 6,757 9,723John Makinson 16,480 6,757 9,723Marjorie Scardino 24,040 9,857 14,183 Interests of the Directors As a result of the above transactions, the executive directors are interested inthe following Shares (excluding Shares to which they are notionally entitled ormay 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 David Bell 122,518 0.01521Rona Fairhead 62,593 0.00777John Makinson 172,872 0.02146Marjorie Scardino 212,160 0.02633 The Shares required to satisfy these awards have been sourced from an employeebenefit trust established by the Company. As a result of the release of Sharesdescribed above, the number of Shares held by Halifax EES Trustees InternationalLimited (as trustee of the Pearson Employee Share Ownership Trust) is now2,520,843 Shares (representing 0.313% of the Company's issued ordinary sharecapital). Each of the executive directors of the Company is for Companies Act purposes,regarded as interested in all the shares held by this trust. Despite thetechnical interest in all the Shares each executive director will only beentitled to receive from the Trust that number of Shares to which he or she isentitled under share plans operated by the Company in which he or sheparticipates. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Pearson