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WPP plc announced that on 11 March 2024, executive share awards, including those under the 2021 Executive Share Award and WPP Stock Plan 2018, vested for CEO Mark Read, COO Andrew Scott, and CFO Joanne Wilson; awards subject to 2021 EPSP performance conditions were satisfied at 66.67%. Mark Read acquired 119,689 shares, Andrew Scott acquired 50,890 shares, and Joanne Wilson acquired a total of 27,529 shares, all at £nil price. On the same date, they sold shares at £7.02 each to cover statutory withholding liabilities: Read sold 56,367 shares, Scott sold 23,967 shares, and Wilson sold 12,966 shares.
| Date | 13 Mar 2024 |
| Time | 17:10:00 |
| Category | Director/PDMR dealings |
| ID | 7592G |
FOR IMMEDIATE RELEASE 13 March 2024
WPP plc ("WPP")
Vesting of executive share awards
Notification of Transactions of Directors/Persons Discharging Managerial Responsibilities or their Connected Persons
The Company announces that the following persons discharging managerial responsibilities transacted in ordinary shares of 10 pence each in the Company due to the vesting of awards under the terms of the 2021 Executive Share Award ("ESA") made on 10 May 2022 and awards made under the WPP Stock Plan 2018 on 4 May 2023 which were subject to the performance conditions attached to the 2021 Executive Performance Share Plan ("EPSP") award. Awards subject to the 2021 EPSP performance conditions were satisfied as to 66.67%.
|
Name of Executive Director |
Plan |
Total number of shares vested |
Total number of shares sold to cover statutory withholding liabilities |
Date of sale |
|
Mark Read |
ESA |
119,689 |
56,367 |
11 March 2024 |
|
Andrew Scott |
ESA |
50,890 |
23,967 |
11 March 2024 |
|
Joanne Wilson |
WPP Stock Plan 2018 |
19,062 |
8,978 |
11 March 2024 |
|
Joanne Wilson |
WPP Stock Plan 2018 |
8,467 |
3,988 |
11 March 2024 |
|
1. |
Details of PDMR/person closely associated with them ('PCA') |
|||||
|
a) |
Name |
Mark Read |
||||
|
b) |
Position/status |
Chief Executive Officer |
||||
|
c) |
Initial notification/ |
Initial notification |
||||
|
2. |
Details of the issuer |
|||||
|
a) |
Full name of the entity |
WPP plc |
||||
|
b) |
Legal Entity Identifier code |
549300LSGBXPYHXGDT93 |
||||
|
3. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument |
Ordinary shares of 10 pence each ('Ordinary Shares') ISIN: JE00B8KF9B49 |
||||
|
b) |
Nature of the transaction |
Acquisition of Ordinary Shares made under the WPP 2019 Executive Share Award. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A (single transaction) |
||||
|
e) |
Date of the transaction |
11 March 2024 |
||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||
|
Transaction 2 |
||||||
|
b) |
Nature of the transaction |
Sale of Ordinary Shares to cover statutory withholding liabilities. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
|
||||
|
e) |
Date of the transactions |
11 March 2024 |
||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||
|
1. |
Details of PDMR/person closely associated with them ('PCA') |
|||||
|
a) |
Name |
Andrew Scott |
||||
|
b) |
Position/status |
Chief Operating Officer |
||||
|
c) |
Initial notification/ |
Initial notification |
||||
|
2. |
Details of the issuer |
|||||
|
a) |
Full name of the entity |
WPP plc |
||||
|
b) |
Legal Entity Identifier code |
549300LSGBXPYHXGDT93 |
||||
|
3. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||
|
a) |
Description of the financial instrument |
Ordinary shares of 10 pence each ('Ordinary Shares') ISIN: JE00B8KF9B49 |
||||
|
b) |
Nature of the transaction |
Acquisition of Ordinary Shares made under the WPP 2019 Executive Share Award. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A (single transaction) |
||||
|
e) |
Date of the transaction |
11 March 2024 |
||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||
|
Transaction 2 |
||||||
|
b) |
Nature of the transaction |
Sale of Ordinary Shares to cover statutory withholding liabilities. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
|
||||
|
e) |
Date of the transactions |
11 March 2024 |
||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||
|
1. |
Details of PDMR/person closely associated with them ('PCA') |
|||||||
|
a) |
Name |
Joanne Wilson |
||||||
|
b) |
Position/status |
Chief Financial Officer |
||||||
|
c) |
Initial notification/ |
Initial notification |
||||||
|
2. |
Details of the issuer |
|||||||
|
a) |
Full name of the entity |
WPP plc |
||||||
|
b) |
Legal Entity Identifier code |
549300LSGBXPYHXGDT93 |
||||||
|
3. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|||||||
|
a) |
Description of the financial instrument |
Ordinary shares of 10 pence each ('Ordinary Shares') ISIN: JE00B8KF9B49 |
||||||
|
b) |
Nature of the transaction |
Acquisition of Ordinary Shares made under the WPP Stock Plan 2018. |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information - Aggregated volume - Price |
27,529 £nil |
||||||
|
e) |
Date of the transaction |
11 March 2024 |
||||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||||
|
Transaction 2 |
||||||||
|
b) |
Nature of the transaction |
Sale of Ordinary Shares to cover statutory withholding liabilities. |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information - Aggregated volume - Price |
12,966 £7.02 |
||||||
|
e) |
Date of the transactions |
11 March 2024 |
||||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||||
This notice is given in fulfilment of the obligation under Article 19 of the Market Abuse Regulation.
Balbir Kelly-Bisla
Group Company Secretary
Contact for further information:
Chris Wade, WPP
+44 (0)20 7282 4600
About WPP
WPP is the creative transformation company. We use the power of creativity to build better futures for our people, planet, clients and communities. For more information, visit www.wpp.com.
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