REG - WPP PLC - Executive Performance Share Awards

WPPAnnouncement

27/03/2023 14:45

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RNS Number : 3515U  WPP PLC  27 March 2023

FOR IMMEDIATE RELEASE
                                             27 March
2023

 

WPP plc ("WPP")

Executive Performance Share Awards

 

The Executive Performance Share Plan (EPSP) is WPP's long term incentive plan
renewed by shareholders at the 2022 Annual General Meeting. On 23 March 2023,
awards were made to the 2023 participants which comprise WPP's Chief Executive
Officer, 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           450,628

 

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 2026 will depend on
WPP's performance over the three-year performance period from 1 January 2023
to 31 December 2025.

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

 

 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  450,628

 

 d)  Aggregated information                                                     N/A (single transaction)

     -     Aggregated number

     -     Aggregated Price

     -     Total
 e)  Date of the transaction                                                    23 March 2023
 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

23 March 2023

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.

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, clients and communities. For more
information, visit www.wpp.com (http://www.wpp.com/) .

 

END

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