EX-99.1 2 d501503dex991.htm EX-1 EX-1

Exhibit 1

 

FINAL RELEASE

   1 December 2017

WPP plc (“WPP”)

Director’s Interests

Exercise of options and sales to cover tax

WPP was today notified that Sir Martin Sorrell (CEO of WPP) has exercised his rights to receive 10,204,217 shares subject to various share awards.

These awards relate to deferred awards granted under:

 

 

 

WPP’s 2004 Leadership Equity Acquisition Plan (“LEAP”); and

 

 

WPP’s Capital Investment Plan (covering 1995-1999 performance period and since deferred into awards referred to as Deferred Stock Units (“DSU”)).

The awards have been disclosed in WPP’s Annual Reports and announcements made previously as forming part of Sir Martin Sorrell’s beneficial holding. They were granted as options to acquire ordinary shares in WPP plc. The right to exercise the awards was deferred until no later than 30 November 2017 following share owner approval in 2010.

The following table summarises the plans exercised, dates and volume of the transactions.

 

    Award    

   Deferral date    Date of Transaction     

Number of
ordinary
shares
1
 
 
 
   Total exercise price payable     


Total
volume of
shares
sold
 
 
 
 

 

UK DSU

 

  

 

October 2008

 

  

 

28 November 2017

 

  

 

 

 

 

1,771,472

 

 

 

 

  

 

£38.98

 

  

 

 

 

 

797,163

 

 

 

 

 

UK DSU

 

  

 

December 2008

 

  

 

28 November 2017

 

  

 

 

 

 

987,742

 

 

 

 

  

 

£21.74

 

  

 

 

 

 

444,484

 

 

 

 

UK 2004 LEAP    March 2008    28 November 2017      2,428,984      nil      1,093,043  
UK 2005 LEAP    March 2010    30 November 2017      410,895      nil      184,903  
UK 2006 LEAP    March 2011    30 November 2017      498,130      nil      224,159  
UK 2007 LEAP    March 2012    30 November 2017      249,021      nil      112,060  
UK 2009 LEAP    March 2014    30 November 2017      1,087,898      nil      489,555  

 

US DSU

 

  

 

October 2008

 

  

 

30 November 2017

 

  

 

 

 

 

877,736

 

 

 

 

  

 

£19.32

 

  

 

 

 

 

452,649

 

 

 

 

US 2004 LEAP    March 2008    30 November 2017      1,380,308      nil      711,825  
US 2005 LEAP    March 2010    30 November 2017      297,545      nil      153,444  
US 2007 LEAP    March 2012    30 November 2017      214,486      nil      110,611  

Total

               10,204,217      £80.04      4,773,896  

 

 

1 

These include any shares acquired pursuant to dividend equivalent rights whereby the number of shares acquired in connection with the award was increased to represent the value of dividends paid between the dates of grant and dates of exercise.


The above exercises were satisfied by the transfer of 2,759,214 shares on 28 November 2017, from the WPP Capital Investment Plan Trust, a trust resident in Jersey in connection with the grant of awards under the WPP Capital Investment Plan and established on 30 October 2001, and 7,445,003 shares from treasury on 29 November 2017 and 30 November 2017.

From 28 to 30 November 2017 Sir Martin Sorrell sold shares purely to cover immediate tax liabilities of £62.5 million as a result of the option exercises. Consequently, on 28 and 29 November 2017 Sir Martin Sorrell sold 2,334,690 (in batches at an average price of £13.0325 per share) and on 30 November 2017 sold 2,439,206 (in batches at an average price of £13.159 per share) of these shares.

At today’s date Sir Martin Sorrell and his family interests are interested in or have rights in 17,940,018 shares. Sir Martin Sorrell’s family interests and rights represent 1.416% of the issued share capital of WPP. Additionally, The JMCMRJ Sorrell Foundation holds 4,575,936 WPP shares, representing 0.3612% of WPP’s issued share capital.

 

Contact:

  

Buchanan

  

+44 (0) 20 7466 5000

Richard Oldworth

  

+44 (0) 7710 130 634

Henry Harrison-Topham / Chris Lane

  

wpp@buchanan.uk.com