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/
amendment
|
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
|
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 purchased and price per
share/ADR)
|
|
Price(s)
|
Volume(s)
|
|
Nil cost option
|
617,709
|
|
|
|
|
|
|
|
|
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/
amendment
|
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
|
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 purchased and price per
share/ADR)
|
|
Price(s)
|
Volume(s)
|
|
Nil cost option
|
312,588
|
|
|
|
|
|
|
|
|
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/
amendment
|
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
|
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 purchased and price per
share/ADR)
|
|
Price(s)
|
Volume(s)
|
|
Nil cost option
|
306,251
|
|
|
|
|
|
|
|
|
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.
END
