WPP Group PLC
06 March 2008
For Immediate Release 6 March 2008
ANNOUNCEMENT
WPP GROUP PLC ("WPP")
WPP was notified today of changes in the share ownership of executive directors
of the company pursuant to the exercise and satisfaction of awards under the
Leadership Equity Acquisition Plan 2004 ("LEAP"). The ability to exercise these
awards depended on the satisfaction of a number of conditions including the
relative performance of WPP against key competitors between 2004 and 31 December
2007 and the requirement to retain shares in WPP during the same period.
WPP was also notified today of changes in the share ownership of executive
directors of the company pursuant to the vesting of 2005 Executive Share Awards
("ESA") granted in 2006.
On 5th March 2008 (but subject to the deferral noted below), Sir Martin Sorrell
became entitled to receive 2,823,786 shares pursuant to the award granted under
LEAP in 2004. Sir Martin has deferred the receipt of these shares until November
2011 following the approval to do so granted by WPP's Share Owners at their
Extraordinary General Meeting held on 21 December 2007. On 6th March 2008, Sir
Martin became entitled to receive 123,308 shares pursuant to the terms of his
ESA granted in 2006. He is retaining all of these shares. At today's date, Sir
Martin and his family interests are interested in 16,555,181 WPP shares
(inclusive of the shares acquired pursuant to the award granted under LEAP in
2004, receipt of which has been deferred) representing 1.404% of the issued
share capital of WPP.
On 5th March 2008, Mr Paul Richardson exercised his option to receive the shares
which vested pursuant to the award granted under LEAP in 2004 in relation to
84,715 shares of which 42,443 have been sold to fund taxes. On 6th March 2008,
Mr Richardson became entitled to receive 69,534 shares pursuant to his ESA
granted in 2006, of which he has sold 34,837 to fund taxes. Mr Richardson's
beneficial holding is now 291,319 shares, representing 0.025% of WPP's issued
share capital.
On 6th March 2008, Mr Mark Read became entitled to receive 33,724 shares
pursuant to his ESA granted in 2006, of which he has sold 13,855 to fund taxes.
Also on 6th March 2008, Mr Read became entitled to receive 20,162 shares
pursuant to a special restricted stock grant made in 2005, of which 8,283 have
been sold to fund taxes. Mr Read's beneficial holding is now 60,190 shares,
representing 0.0051% of WPP's issued share capital.
Contact:
Feona McEwan Tel +44(0)20 7408 2204
WPP Group plc
This information is provided by RNS
The company news service from the London Stock Exchange
Q
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.