16th Feb 2007 16:00
Reed Elsevier PLC16 February 2007 ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV 16 February 2007 Director/PDMR Shareholding Reed Elsevier received notification today that the following options weregranted to directors of Reed Elsevier PLC and Reed Elsevier NV on 15 February2007: (a) Under the Reed Elsevier Group plc Share Option Scheme Director No. of Reed Elsevier PLC options No. of Reed Elsevier NV options Exercisable granted at 644.5p per share granted at €14.51 per share betweenSir Crispin Davis 251,730 166,254 2010 - 2017Mark Armour 130,740 86,347 2010 - 2017Gerard van de Aast 122,536 80,928 2010 - 2017Erik Engstrom 130,060 85,897 2010 - 2017Andrew Prozes 132,537 87,533 2010 - 2017Patrick Tierney 121,628 80,329 2010 - 2017 Exercise of the above options is subject to a post grant performance condition,requiring the achievement of 6% per annum compound growth in adjusted EPSexpressed at constant exchange rates, during the three years following thegrant. There is no re-testing of the three year EPS performance. (b) Under the Reed Elsevier Group plc Long Term Incentive Share Option Scheme Director No. of Reed Elsevier PLC nil No. of Reed Elsevier NV nil Vesting Date cost conditional shares cost conditional shares awarded awardedSir Crispin Davis 118,942 78,555 2010Mark Armour 61,775 40,799 2010Gerard van de Aast 57,898 38,238 2010Erik Engstrom 61,453 40,586 2010Andrew Prozes 62,623 41,359 2010Patrick Tierney 57,412 37,917 2010 Vesting of the above award is subject to the achievement of 10% per annumaveraged compound growth in adjusted earnings per share (EPS) at constantcurrencies of Reed Elsevier PLC and Reed Elsevier NV and the achievement ofmedian total shareholder return (TSR) against a comparator group of seventeenmedia companies, over the three year performance period 2007-2009. The actualnumber of conditional shares that will vest will be determined by theRemuneration Committee, and in accordance with the Rules of the Scheme, byreference to the actual EPS and TSR performance over the three year performanceperiod. No awards will vest if EPS is below 8% per annum. If EPS is 12% perannum and above and TSR is upper quartile and above, 189% of the award willvest. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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