6th Mar 2008 13:49
WPP Group PLC06 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 directorsof the company pursuant to the exercise and satisfaction of awards under theLeadership Equity Acquisition Plan 2004 ("LEAP"). The ability to exercise theseawards depended on the satisfaction of a number of conditions including therelative performance of WPP against key competitors between 2004 and 31 December2007 and the requirement to retain shares in WPP during the same period. WPP was also notified today of changes in the share ownership of executivedirectors 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 Sorrellbecame entitled to receive 2,823,786 shares pursuant to the award granted underLEAP in 2004. Sir Martin has deferred the receipt of these shares until November2011 following the approval to do so granted by WPP's Share Owners at theirExtraordinary General Meeting held on 21 December 2007. On 6th March 2008, SirMartin became entitled to receive 123,308 shares pursuant to the terms of hisESA granted in 2006. He is retaining all of these shares. At today's date, SirMartin and his family interests are interested in 16,555,181 WPP shares(inclusive of the shares acquired pursuant to the award granted under LEAP in2004, receipt of which has been deferred) representing 1.404% of the issuedshare capital of WPP. On 5th March 2008, Mr Paul Richardson exercised his option to receive the shareswhich vested pursuant to the award granted under LEAP in 2004 in relation to84,715 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 ESAgranted in 2006, of which he has sold 34,837 to fund taxes. Mr Richardson'sbeneficial holding is now 291,319 shares, representing 0.025% of WPP's issuedshare capital. On 6th March 2008, Mr Mark Read became entitled to receive 33,724 sharespursuant 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 sharespursuant to a special restricted stock grant made in 2005, of which 8,283 havebeen 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 2204WPP Group plc This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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