31st May 2005 14:52
WPP Group PLC31 May 2005 STOCK EXCHANGE ANNOUNCEMENT 31 May 2005 WPP GROUP PLC ("WPP") Director Shareholdings WPP has been notified of changes in the interests of Sir Martin Sorrell in hisshareholding in WPP following the maturity of restrictions on shares he heldinstead of his bonus earned in 2002. On 27 May 2003, Sir Martin Sorrell entered into an agreement with WPP and WPPGroup USA, Inc. to receive his bonus for the 2002 performance period in the formof 178,036 shares. The shares were held in WPP Employee Share Trusts andsubject to restrictions in dealing and at risk of forfeiture for a period of twoyears from grant. The restricted period ended on 27 May 2005 and Sir Martin has, today, sold75,333 of the shares received, to one of the WPP ESOPs at a price of 591.5p pershare, to discharge his UK and US tax liability arising on the ending of therestrictions on the shares. Following these transactions, at today's date Sir Martin Sorrell and his familyinterests are interested in or have rights in 15,564,104 shares representing1.23% of the issued share capital of WPP (excluding 4,129,664 shares which isthe maximum number of matching shares under the 2004 LEAP award, the performanceperiod for which expires on 31 December 2007). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WPP