REG - WPP PLC - Executive Performance Share Awards

WPPAnnouncement

13/03/2024 17:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240313:nRSM7600Ga&default-theme=true

RNS Number : 7600G  WPP PLC  13 March 2024

FOR IMMEDIATE RELEASE
 
13 March 2024

 

WPP plc ("WPP")

Executive Performance Share Awards

 

On 12 March 2024, awards were made to the 2024 participants which comprise
WPP's Chief Executive Officer, Chief Financial Officer, and Chief Operating
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           617,709
 Joanne Wilson       312,588
 Andrew Scott        306,251

 

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 2027 will depend on
WPP's performance over the three-year performance period from 1 January 2024
to 31 December 2026.

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 sliding scale basis to 100% of the award for
maximum performance.

Notes

1)   These awards were made in accordance with the terms of the 2023
Directors' Compensation Policy as approved by shareholders on 17 May 2023

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 award 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  617,709

 

 d)  Aggregated information                                                     N/A (single transaction)

     -     Aggregated number

     -     Aggregated Price

     -     Total
 e)  Date of the transaction                                                    11 March 2024
 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

11 March 2024

f)

Place of the transaction

London Stock Exchange (XLON)

 

 

 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

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 award 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  312,588

 

 d)  Aggregated information                                                     N/A (single transaction)

     -     Aggregated number

     -     Aggregated Price

     -     Total
 e)  Date of the transaction                                                    11 March 2024
 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

11 March 2024

f)

Place of the transaction

London Stock Exchange (XLON)

 

 

 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

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 award 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  306,251

 

 d)  Aggregated information                                                     N/A (single transaction)

     -     Aggregated number

     -     Aggregated Price

     -     Total
 e)  Date of the transaction                                                    11 March 2024
 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

11 March 2024

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

 

END

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHQKNBKOBKDNND