REG - WPP PLC - Executive Performance Share Awards

WPPAnnouncement

29/03/2022 14:15

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RNS Number : 4336G  WPP PLC  29 March 2022

FOR IMMEDIATE RELEASE
 
29 March 2022

 

WPP plc ("WPP")

Executive Performance Share Awards

 

The Executive Performance Share Plan (EPSP) is WPP's long term incentive plan
approved by shareholders at the 2013 Annual General Meeting. On 25 March 2022,
awards were made to the 2022 participants which comprise WPP's two Executive
Directors, as set out in the table below, and other select senior executives
within the Group's operating companies.

 Executive Director  Number of shares awarded
 Mark Read           384,746
 John Rogers         210,586

 

Awards take the form of nil-cost options or conditional awards of performance
shares, which are exercisable over WPP shares or ADRs and the amounts stated
represent the maximum possible opportunity.

The extent to which awards become exercisable or vest in 2025 will depend on
WPP's performance over the three-year performance period from 1 January 2022
to 31 December 2024.

Awards are subject to three equally weighted performance measures: average
Return on Invested Capital (ROIC), cumulative Adjusted Free Cash Flow (AFCF),
and relative Total Shareholder Return (TSR).  Achieving threshold performance
will result in a vesting opportunity of 20% of the award. The vesting
opportunity will increase on a straight-line basis to 100% of the award for
maximum performance.

Notes

1)   These awards were made in accordance with the terms of the 2020
Directors' Compensation Policy as approved by shareholders on 10 June 2020

2)   To the extent that each element of a conditional award does not vest at
the end of the three- year performance period it will lapse

3)   Additional shares will be awarded at vesting in lieu of dividends on
the shares that vest

4)   Awards to Executive Directors are subject to an additional two-year
post-vesting holding period

Contact:

Chris Wade, WPP

+44 (0)20 7282 4600

 

Richard Oldworth, Buchanan Communications

+44 (0)7710 130634

 

 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

amendment
 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                                                  Grant of conditional awards over WPP plc ordinary shares under the WPP plc
                                                                                Executive Performance Share Plan
 c)  Price(s) and volume(s) (Number of WPP ordinary shares or WPP ADRs sold or  Price(s)         Volume(s)
     purchased and price per share/ADR)                                         Nil cost option  384,746

 

 d)  Aggregated information                                                     N/A (single transaction)

     -     Aggregated number

     -     Aggregated Price

     -     Total
 e)  Date of the transaction                                                    25 March 2022
 f)  Place of the transaction                                                   London Stock Exchange (XLON)

 

 

d)

Aggregated information

-     Aggregated number

-     Aggregated Price

-     Total

N/A (single transaction)

 

e)

Date of the transaction

25 March 2022

f)

Place of the transaction

London Stock Exchange (XLON)

 

 1.  Details of PDMR/person closely associated with them ('PCA')
 a)  Name                                                                       John Rogers
 b)  Position/status                                                            Chief Financial Officer
 c)  Initial notification/                                                      Initial notification

amendment
 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                                                  Grant of conditional awards over WPP plc ordinary shares under the WPP plc
                                                                                Executive Performance Share Plan
 c)  Price(s) and volume(s) (Number of WPP ordinary shares or WPP ADRs sold or  Price(s)         Volume(s)
     purchased and price per share/ADR)                                         Nil cost option  210,586

 

 d)  Aggregated information                                                     N/A (single transaction)

     -     Aggregated number

     -     Aggregated Price

     -     Total
 e)  Date of the transaction                                                    25 March 2022
 f)  Place of the transaction                                                   London Stock Exchange (XLON)

 

 

d)

Aggregated information

-     Aggregated number

-     Aggregated Price

-     Total

N/A (single transaction)

 

e)

Date of the transaction

25 March 2022

f)

Place of the transaction

London Stock Exchange (XLON)

 

This notice is given in fulfilment of the obligation under Article 19 of the
Market Abuse Regulation.

 

END

 

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