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LONDON - WPP (LON:WPP) plc, the global creative transformation company, disclosed that top executives have conducted transactions in the company’s shares following the vesting of executive share awards. The transactions occurred on Monday, involving the sale of shares to cover statutory withholding liabilities, as reported in a recent press release by the company.
Mark Read, Chief Executive Officer of WPP, acquired 117,405 shares at no cost under the 2022 Executive Share Award (ESA) program. To meet tax obligations, Read sold 55,291 shares at a price of £6.40 each. Chief Operating Officer Andrew Scott also participated in the ESA, gaining 50,609 shares and selling 23,834 at the same price for tax purposes. Meanwhile, Chief Financial Officer Joanne Wilson received 49,625 shares under the WPP Stock Plan 2018, tied to the 2022 Executive Performance Share Plan (EPSP), and sold 23,371 shares, also at £6.40 per share.
The performance conditions attached to the 2022 EPSP were satisfied to the extent of 48.8%, leading to the vesting of the awards. These executive transactions were carried out on the London Stock Exchange (LON:LSEG).
WPP’s announcement fulfills the requirements under Article 19 of the Market Abuse Regulation, ensuring transparency in the dealings of its directors and senior managers. The company, renowned for leveraging creativity in its offerings, aims to create a positive impact for its stakeholders, including employees, clients, and the communities it serves.
The disclosure of these transactions provides investors and the market with insight into executive compensation and stock ownership at WPP. The company’s stock is traded under the ticker symbol LSE:WPP, and the ordinary shares in question have an ISIN of JE00B8KF9B49.
This report is based on a press release statement and is intended to inform the public of the factual details surrounding the executive share transactions at WPP.
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