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LONDON - WPP plc (LSE:WPP) granted Chief Executive Officer Cindy Rose a conditional share award of 1,137,233 shares under the company’s 2022 Executive Performance Share Plan, according to a statement released Tuesday.
The award, made on September 8, represents compensation for incentives Rose forfeited when leaving her previous employer. The shares will vest in multiple tranches between December 1, 2025, and September 1, 2030, contingent upon Rose’s continued employment with the company.
According to the company statement, the award aligns with WPP’s Directors’ Compensation Policy. The number of shares was calculated based on the average mid-market closing share price of WPP’s ordinary shares on the London Stock Exchange over the three months preceding the grant date.
The transaction was disclosed in accordance with the Market Abuse Regulation requirements, which mandate transparency for transactions by persons discharging managerial responsibilities.
WPP, which describes itself as a creative transformation company, made the announcement via a regulatory filing to the London Stock Exchange.
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