Executive Performance Share Awards

RNS Number : 0212U

WPP PLC

30 March 2021

 

FOR IMMEDIATE RELEASE

30 March 2021

WPP plc ("WPP")

Executive Performance Share Awards

The Executive Performance Share Plan (EPSP) is WPP's long term incentive plan approved by shareholders at the 2013 Annual General Meeting. On 28 March 2021, awards were made to the 2021 participants which comprise WPP's two Executive Directors, 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	369,278
John Rogers	240,233

Awards take the form of nil-cost options, which are exercisable over WPP shares or ADRs and the amounts stated represent the maximum possible opportunity. 

The extent to which awards become exercisable in 2024 will depend on WPP's performance over the three-year performance period from 1 January 2021 to 31 December 2023. 

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 straight-line basis to 100% of the award for maximum performance.
 

Notes

1) These awards were made in accordance with the terms of the 2020 Directors' Compensation Policy as approved by shareholders on 10 June 2020

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

Balbir Kelly-Bisla

Group Company Secretary

Contact:

Chris Wade, WPP

[phone]

Richard Oldworth, Buchanan Communications

[phone]

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 conditional awards 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 369,278
d)	Aggregated information -  Aggregated number -  Aggregated Price -  Total	N/A (single transaction)
e)	Date of the transaction	28 March 2021
f)	Place of the transaction	London Stock Exchange (XLON)

1.	Details of PDMR/person closely associated with them ('PCA')
a)	Name	John Rogers
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 conditional awards 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 240,233
d)	Aggregated information -  Aggregated number -  Aggregated Price -  Total	N/A (single transaction)
e)	Date of the transaction	28 March 2021
f)	Place of the transaction	London Stock Exchange (XLON)

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