16th Oct 2006 10:32
Pearson PLC16 October 2006 16 October 2006 Pearson plc - Notification of Directors' Interests Pearson plc ("Pearson") today announces the following changes in directors'interests in Pearson ordinary shares of 25p each ("shares"). On 13 October 2006, Pearson made a grant of restricted shares to executivedirectors under its existing Long-Term Incentive Plan. This represents thecompany's annual grant of long-term incentives to executive directors for 2006. The earliest normal vesting date on which shares may be released is 13 October2009. Subject to meeting certain performance conditions in full, and theretention of shares that vest on 13 October 2009 for a further two years, themaximum number of shares that the following executive directors may receive is :Marjorie Scardino (450,000); David Bell (125,000); Rona Fairhead (140,000);Robin Freestone (125,000); and John Makinson (140,000). The terms of the awards were set out in the chairman's letter dated 21 March2006 and approved by shareholders at the Annual General Meeting on 21 April2006. One third of the award will be based on Pearson's total shareholder returnperformance relative to the constituents of the FTSE World Media Index over thethree-year period 2006 to 2009. Another third of the award will be based onPearson's return on invested capital in 2008. The final third of the award willbe based on Pearson's growth in earnings per share over the period 2005 to 2008.The conditions and vesting arrangements will be set out in more detail in thereport on directors' remuneration for 2006. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Pearson