WPP grants Cindy Rose over 1.1 million conditional shares

New Delhi: WPP plc (LSE: WPP) has 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 the report.

The award, made on September 8, is intended as compensation for incentives Rose forfeited when leaving her previous employer. The shares are scheduled to vest in multiple tranches between December 1 2025 and September 1 2030, contingent on her continued employment with WPP.

According to the report, the award is in line with WPP’s Directors’ Compensation Policy. The number of shares was determined based on the average mid-market closing price of WPP’s ordinary shares on the London Stock Exchange over the three months preceding the grant date.

The transaction was disclosed in compliance with Market Abuse Regulation requirements, which call for transparency for transactions by persons discharging managerial responsibilities.

WPP communicated the grant through a regulatory filing to the London Stock Exchange.