0001309014-12-000328.txt : 20120504 0001309014-12-000328.hdr.sgml : 20120504 20120504124503 ACCESSION NUMBER: 0001309014-12-000328 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120504 FILED AS OF DATE: 20120504 DATE AS OF CHANGE: 20120504 FILER: COMPANY DATA: COMPANY CONFORMED NAME: REED ELSEVIER PLC CENTRAL INDEX KEY: 0000929869 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS PUBLISHING [2741] IRS NUMBER: 000000000 STATE OF INCORPORATION: X0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13334 FILM NUMBER: 12813089 BUSINESS ADDRESS: STREET 1: 1-3 STRAND CITY: LONDON WC2N 5JR STATE: X0 ZIP: 00000 BUSINESS PHONE: 011442071665660 MAIL ADDRESS: STREET 1: 1-3 STRAND CITY: LONDON WC2N 5JR STATE: X0 ZIP: 00000 FILER: COMPANY DATA: COMPANY CONFORMED NAME: REED ELSEVIER NV CENTRAL INDEX KEY: 0000929872 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS PUBLISHING [2741] IRS NUMBER: 000000000 STATE OF INCORPORATION: E1 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13688 FILM NUMBER: 12813088 BUSINESS ADDRESS: STREET 1: RADARWEG 29 STREET 2: 1043 NX AMSTERDAM CITY: THE NETHERLANDS STATE: P7 ZIP: 00000 BUSINESS PHONE: 011442071665660 MAIL ADDRESS: STREET 1: RADARWEG 29 STREET 2: 1043 NX AMSTERDAM CITY: THE NETHERLANDS STATE: P7 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: ELSEVIER NV / DATE OF NAME CHANGE: 19980327 6-K 1 htm_6781.htm LIVE FILING Reed Elsevier PLC - Form 6-K
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

May 4, 2012

Reed Elsevier PLC
———————————————————————————————————
(Translation of registrant’s name into English)
 
1-3 Strand
London
WC2N 5JR
———————————————————————————————————
(Address of principal executive office)
 
Reed Elsevier NV
———————————————————————————————————
(Translation of registrant’s name into English)
 
Radarweg 29 1043 NX Amsterdam PO Box 470 1000 AL Amsterdam
———————————————————————————————————
(Address of principal executive office)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:  [x] Form 20-F    [ ] Form 40-F
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  [ ]
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  [ ]
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:  [ ] Yes    [x] No
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):    n/a 
  
Director/PDMR Shareholding
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
    Reed Elsevier PLC
     
Date: 05/04/2012 By: /s/H.Udow
  Name:  H.Udow
  Title: Chief Legal Officer & Company Secretary
     
    Reed Elsevier NV
     
Date: 05/04/2012 By: /s/H.Udow
  Name:  H.Udow
  Title: Authorised Signatory
     
EXHIBIT INDEX

Exhibit No.   Description
 
99   Director/PDMR Shareholding 05/04/2012
     
EX-99 2 exhibit1.htm EX-99 Exhibit  EX-99

ISSUED ON BEHALF OF REED ELSEVIER PLC AND REED ELSEVIER NV

4 May 2012

Director/PDMR Shareholdings

Reed Elsevier announces the following transactions in the securities of Reed Elsevier by its Directors and PDMRs:

(a) Award of conditional matching shares granted on 2 May 2012 under the
Reed Elsevier Group plc Bonus Investment Plan 2010 (“BIP”)

                         
Director   No. of Reed Elsevier PLC   No. of Reed   Vesting of matching
    matching ordinary   Elsevier NV   shares
    shares awarded   matching ordinary    
            shares/ADRs*    
            awarded    
Erik Engstrom   -   68,475*   2015
Mark Armour
     90,987       21,028       2015  
 
                        

*Denotes award over ADRs. Each Reed Elsevier NV ADR represents 2 Reed Elsevier NV ordinary shares.

Reed Elsevier received notification yesterday from the Trustees of the Reed Elsevier Employee Benefit Trust (“the Trustees”) that between 2 and 3 May 2012 they purchased the number of shares/ADRs noted in table (b) below, on behalf of the PDMRs in order to satisfy their personal investment under the BIP. No purchases were made on behalf of the Directors who are contributing existing shares to satisfy their personal investment in the BIP.

(b) Purchase of investment shares and award of conditional matching shares under the Reed Elsevier Group plc BIP

                                         
PDMR   No. of Reed   No. of Reed   No. of Reed   No. of Reed   Vesting of matching
    Elsevier PLC   Elsevier PLC ADRs   Elsevier PLC   Elsevier PLC   shares
    ordinary shares   purchased on behalf   matching ordinary   matching ADRs        
    purchased on behalf   of the PDMR at   shares awarded   awarded        
    of the PDMR at   $33.5937 per ADR                        
    518.2934p per share                                
Ian Fraser
     9,483       —       40,753       —       2015  
 
                                        
Henry Udow
     20,709       5,113       43,411       10,666       2015  
 
                                        

In addition to the investment shares purchased on behalf of Ian Fraser, he is also contributing existing shares to satisfy his personal investment in the BIP.

Vesting of awards under the BIP is subject to achievement of adjusted earnings per share (“Adjusted EPS”) and return on invested capital (“ROIC”) post-grant performance targets over the 2012-2014 performance period, and retaining the personal investment shares in trust until vesting. Full details of the performance conditions are disclosed in the Reed Elsevier 2011 Directors’ Remuneration Report.

(c)   Award of market price options granted on 2 May 2012 under the

    Reed Elsevier Group plc Executive Share Option Scheme (“ESOS”)

                     
Director   No. of Reed Elsevier   No. of Reed Elsevier   Exercisable
    PLC options over   NV options over   between
    ordinary shares   ordinary shares    
    granted with an   granted with an    
    exercise price of   exercise price of    
    515.5p per share   €9.03 per share    
Erik Engstrom
    198,836       139,742     2015 – 2022
 
                   
                     
PDMR   No. of Reed Elsevier   No. of Reed Elsevier   Exercisable between
    PLC options over   NV options over    
    ordinary shares   ordinary shares    
    granted with an   granted with an    
    exercise price of   exercise price of    
    515.5p per share   €9.03 per share    
Ian Fraser
    49,302       34,650     2015 – 2022
 
                   
Henry Udow
    26,915       18,916     2015 – 2022
 
                   

The exercise prices for the options noted above were determined using the closing prices of Reed Elsevier PLC ordinary shares and Reed Elsevier NV ordinary shares on the grant date.

The award of options under ESOS is subject to an Adjusted EPS pre-grant performance condition, which determines the size of the annual grant pool available for grants to all participants. In addition, vesting of options awarded to Directors is subject to a post-grant performance hurdle of Adjusted EPS growth. Full details of the pre-grant and post-grant performance conditions are disclosed in the Reed Elsevier 2011 Directors’ Remuneration Report.

(d) Award of conditional shares granted on 2 May 2012 under the

Reed Elsevier Group plc ESOS

                         
PDMR   No. of Reed Elsevier PLC   No. of Reed Elsevier NV   Vesting
    conditional ordinary   conditional ordinary        
    shares awarded   shares awarded        
Henry Udow
     5,383       3,783       2015  
 
                        

Employees, including PDMRs other than Directors, may elect to receive all or half of any award they would otherwise be eligible for under ESOS in the form of conditional shares at the ratio of 1 conditional share for 5 market value options. The share award above is pursuant to an election to receive half of the 2012 ESOS award in the form of conditional shares.

This award vests under the same terms as the awards of market value options granted under ESOS to employees, including PDMRs other than Directors.

The number of conditional shares granted was determined using the closing prices of Reed Elsevier PLC and Reed Elsevier NV ordinary shares on the grant date.

(e)   Award of performance shares granted on 2 May 2012 under the

Reed Elsevier Group plc Long Term Incentive Plan 2010 (“LTIP”)

                         
PDMR   No. of Reed Elsevier PLC   No. of Reed Elsevier NV   Vesting
    performance ordinary   performance ordinary        
    shares awarded   shares awarded        
Ian Fraser
     62,183       43,703       2015  
 
                        
Henry Udow
     58,195       40,900       2015  
 
                        

Vesting of these awards is subject to achievement of Adjusted EPS, ROIC and Total Shareholder Return targets over the 2012-2014 performance period. The performance conditions (including the weighting of the individual conditions) of the LTIP 2010 are aligned with those applicable to the Directors under the Reed Elsevier Growth Plan (“REGP”) as disclosed in the Reed Elsevier 2011 Directors’ Remuneration Report.

The number of performance shares granted was determined by reference to the closing prices of Reed Elsevier PLC and Reed Elsevier NV ordinary shares on the grant date.

Any shares required to satisfy awards referred to in (a), (b) (d) and (e) above will be provided by the Trustees.

Note: The Reed Elsevier 2011 Directors’ Remuneration Report is available to view or download at Reed Elsevier’s website www.reedelsevier.com.

- ENDS -

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