Report on directors' remuneration
Notes contentsTable 4: Movements in directors' interests in restricted shares
Restricted shares designated as: a annual bonus share matching plan; b long-term incentive plan; * where shares at 31 December 2009 have vested and are held pending release; and ** where dividend-equivalent shares were added to the released shares.
Date of award | 1 Jan 09 | Awarded | Released | Lapsed | 31 Dec 09 | Market value at date of award | Earliest release date | Date of release | Market value at date of release |
---|---|---|---|---|---|---|---|---|---|
Marjorie Scardino | |||||||||
a*22/5/07 | 30,143 | 30,143 | 899.9p | 22/5/10 | |||||
a22/5/07 | 30,144 | 30,144 | 899.9p | 22/5/12 | |||||
a4/6/08 | 99,977 | 99,977 | 670.7p | 4/6/11 | |||||
b16/12/02 | 301,700 | 301,700 | 0 | 638.5p | 28/6/05 | ||||
b26/9/03 | 120,200 | 120,200 | 582.0p | 29/9/06 | |||||
b*21/12/04 | 83,197 | 83,197 | 613.0p | 21/12/09 | |||||
b*23/9/05 | 97,500 | 97,500 | 655.0p | 2/3/10 | |||||
b*13/10/06 | 225,000 | 168,750 | 56,250 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b*13/10/06 | 150,000 | 112,500 | 37,500 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b**13/10/09 | 0 | 37,688 | 37,688 | 0 | 791.5p | 13/10/09 | 13/10/09 | 791.5p | |
b*30/7/07 | 420,000 | 84,000 | 336,000 | 778.0p | 2/3/10 | ||||
b4/3/08 | 400,000 | 400,000 | 649.5p | 4/3/11 | |||||
b3/3/09 | 0 | 450,000 | 450,000 | 654.0p | 3/3/12 | ||||
Total | 1,957,861 | 487,688 | 318,938 | 385,700 | 1,740,911 | ||||
David Bell | |||||||||
a*16/4/04 | 4,503 | 4,503 | 0 | 652.0p | 16/4/09 | 16/4/09 | 670.0p | ||
b16/12/02 | 133,065 | 133,065 | 0 | 638.5p | 28/6/05 | ||||
b26/9/03 | 82,400 | 82,400 | 582.0p | 29/9/06 | |||||
b*21/12/04 | 33,002 | 33,002 | 613.0p | 21/12/09 | |||||
b*23/9/05 | 36,833 | 36,833 | 655.0p | 2/3/10 | |||||
b*13/10/06 | 62,500 | 46,875 | 15,625 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b*13/10/06 | 41,667 | 31,250 | 10,417 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b**13/10/09 | 0 | 10,469 | 10,469 | 0 | 791.5p | 13/10/09 | 13/10/09 | 791.5p | |
b*30/7/07 | 100,000 | 20,000 | 80,000 | 778.0p | 2/3/10 | ||||
b4/3/08 | 100,000 | 100,000 | 649.5p | 4/3/11 | |||||
Total | 593,970 | 10,469 | 93,097 | 153,065 | 358,277 | ||||
Will Ethridge | |||||||||
a*22/5/07 | 1,254 | 1,254 | 899.9p | 22/5/10 | |||||
a22/5/07 | 1,254 | 1,254 | 899.9p | 22/5/12 | |||||
a16/4/09 | 0 | 112,515 | 112,515 | 670.0p | 16/4/12 | ||||
b*23/9/05 | 21,017 | 21,017 | 655.0p | 23/9/08 | |||||
b*13/10/06 | 100,000 | 75,000 | 25,000 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b*13/10/06 | 66,667 | 50,000 | 16,667 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b**13/10/09 | 0 | 16,750 | 16,750 | 0 | 791.5p | 13/10/09 | 13/10/09 | 791.5p | |
b*30/7/07 | 150,000 | 30,000 | 120,000 | 778.0p | 2/3/10 | ||||
b4/3/08 | 150,000 | 150,000 | 649.5p | 4/3/11 | |||||
b3/3/09 | 0 | 175,000 | 175,000 | 654.0p | 3/3/12 | ||||
Total | 490,192 | 304,265 | 141,750 | 30,000 | 622,707 | ||||
Rona Fairhead | |||||||||
a* 16/4/04 | 5,146 | 5,146 | 0 | 652.0p | 16/4/09 | 16/4/09 | 670.0p | ||
a*15/4/05 | 19,746 | 19,746 | 631.0p | 2/3/10 | |||||
a*12/4/06 | 8,050 | 8,050 | 776.2p | 12/4/11 | |||||
a12/4/06 | 8,051 | 8,051 | 776.2p | 12/4/11 | |||||
b16/12/02 | 133,065 | 133,065 | 0 | 638.5p | 28/6/05 | ||||
b26/9/03 | 82,400 | 82,400 | 582.0p | 26/9/06 | |||||
b*21/12/04 | 33,002 | 33,002 | 613.0p | 21/12/09 | |||||
b*23/9/05 | 43,333 | 43,333 | 655.0p | 2/3/10 | |||||
b*13/10/06 | 70,000 | 52,500 | 17,500 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b*13/10/06 | 46,667 | 35,000 | 11,667 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b**13/10/09 | 0 | 11,725 | 11,725 | 0 | 791.5p | 13/10/09 | 13/10/09 | 791.5p | |
b*30/7/07 | 125,000 | 25,000 | 100,000 | 778.0p | 2/3/10 | ||||
b4/3/08 | 125,000 | 125,000 | 649.5p | 4/3/11 | |||||
b3/3/09 | 0 | 150,000 | 150,000 | 654.0p | 3/3/12 | ||||
Total | 699,460 | 161,725 | 104,371 | 158,065 | 598,749 | ||||
Robin Freestone | |||||||||
a*12/4/06 | 1,717 | 1,717 | 776.2p | 12/4/11 | |||||
a12/4/06 | 1,718 | 1,718 | 776.2p | 12/4/11 | |||||
a*22/5/07 | 2,354 | 2,354 | 899.9p | 22/5/10 | |||||
a22/5/07 | 2,354 | 2,354 | 899.9p | 22/5/12 | |||||
a4/6/08 | 37,906 | 37,906 | 670.7p | 4/6/11 | |||||
a16/4/09 | 0 | 35,446 | 35,446 | 670.0p | 16/4/12 | ||||
b*13/10/06 | 62,500 | 46,875 | 15,625 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b*13/10/06 | 41,667 | 31,250 | 10,417 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b**13/10/09 | 0 | 10,469 | 10,469 | 0 | 791.5p | 13/10/09 | 13/10/09 | 791.5p | |
b*30/7/07 | 125,000 | 25,000 | 100,000 | 778.0p | 2/3/10 | ||||
b4/3/08 | 125,000 | 125,000 | 649.5p | 4/3/11 | |||||
B3/3/09 | 0 | 150,000 | 150,000 | 654.0p | 3/3/12 | ||||
Total | 400,216 | 195,915 | 88,594 | 25,000 | 482,537 | ||||
John Makinson | |||||||||
b16/12/02 | 172,400 | 172,400 | 0 | 638.5p | 28/6/05 | ||||
b26/9/03 | 82,400 | 82,400 | 582.0p | 26/9/06 | |||||
b*21/12/04 | 33,002 | 33,002 | 613.0p | 21/12/09 | |||||
b*23/9/05 | 39,000 | 39,000 | 655.0p | 2/3/10 | |||||
b*13/10/06 | 70,000 | 52,500 | 17,500 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b*13/10/06 | 46,667 | 35,000 | 11,667 | 767.5p | 13/10/09 | 13/10/09 | 791.5p | ||
b**13/10/09 | 0 | 11,725 | 11,725 | 0 | 791.5p | 13/10/09 | 13/10/09 | 791.5p | |
b*30/7/07 | 100,000 | 20,000 | 80,000 | 778.0p | 2/3/10 | ||||
b4/3/08 | 125,000 | 125,000 | 649.5p | 4/3/11 | |||||
b3/3/09 | 0 | 150,000 | 150,000 | 654.0p | 3/3/12 | ||||
Total | 668,469 | 161,725 | 99,225 | 192,400 | 538,569 | ||||
Total | 4,810,168 | 1,321,787 | 845,975 | 944,230 | 4,341,750 |
Note 1 The number of shares shown represents the maximum number of shares that may vest, subject to any performance conditions being met.
Note 2 No variations to the terms and conditions of plan interests were made during the year.
Note 3 The performance and other conditions that apply to outstanding awards under the annual bonus share matching plan and the long-term incentive plan and that have yet to be met were set out in the reports on directors' remuneration for the years in which they were granted.
Note 4 In the case of the long-term incentive plan awards made on 13 October 2006, we detail separately the part of the award based on ROIC and EPS growth (two-thirds of total award) and that part based on relative TSR (one-third of total award), because vesting of that part of the awards based on TSR was not known at the date of the 2008 report.
Note 5 For long-term incentive awards made prior to 2004 the performance condition was the Pearson share price. The award made on 16 December 2002 lapsed as the Pearson share price failed to meet the required hurdle prior to 28 June 2009.