UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 6-K
____________________
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the Month of May 2023
Commission File Number: 001-38303
______________________
WPP plc
(Translation of registrant's name into English)
________________________
Sea Containers, 18 Upper Ground
London, United Kingdom SE1 9GL
(Address of principal executive offices)
_________________________
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F:
Form
20-F X Form 40-F
___
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): ___
Note: Regulation S-T Rule 101(b)(1) only permits the
submission in paper of a Form 6-K if submitted solely to provide an
attached annual report to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): ___
Note: Regulation S-T Rule 101(b)(7) only permits the
submission in paper of a Form 6-K if submitted to furnish a report
or other document that the registrant foreign private issuer must
furnish and make public under the laws of the jurisdiction in which
the registrant is incorporated, domiciled or legally organized (the
registrant’s “home country”), or under the rules
of the home country exchange on which the registrant’s
securities are traded, as long as the report or other document is
not a press release, is not required to be and has not been
distributed to the registrant’s security holders, and, if
discussing a material event, has already been the subject of a Form
6-K submission or other Commission filing on EDGAR.
Forward-Looking Statements
In
connection with the provisions of the U.S. Private Securities
Litigation Reform Act of 1995 (the ‘Reform Act’), the
Company may include forward looking statements (as defined in the
Reform Act) in oral or written public statements issued by or on
behalf of the Company. These forward-looking statements may
include, among other things, plans, objectives, beliefs,
intentions, strategies, projections and anticipated future economic
performance based on assumptions and the like that are subject to
risks and uncertainties. These statements can be identified by the
fact that they do not relate strictly to historical or current
facts. They use words such as ‘aim’,
‘anticipate’, ‘believe’,
‘estimate’, ‘expect’,
‘forecast’, ‘guidance’,
‘intend’, 'may', ‘will’,
‘should’, ‘potential’,
‘possible’, ‘predict’,
‘project’, ‘plan’, ‘target’,
and other words and similar references to future periods but are
not the exclusive means of identifying such statements. As such,
all forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances that are beyond the
control of the Company. Actual results or outcomes may differ
materially from those discussed or implied in the forward-looking
statements. Therefore, you should not rely on such forward looking
statements, which speak only as of the date they are made, as a
prediction of actual results or otherwise. Important factors which
may cause actual results to differ include but are not limited to:
the impact of, epidemics or pandemics including restrictions on
businesses, social activities and travel; the unanticipated loss of
a material client or key personnel; delays or reductions in client
advertising budgets; shifts in industry rates of compensation;
regulatory compliance costs or litigation; changes in competitive
factors in the industries in which we operate and demand for our
products and services; changes in client advertising, marketing and
corporate communications requirements; our inability to realise the
future anticipated benefits of acquisitions; failure to realise our
assumptions regarding goodwill and indefinite lived intangible
assets; natural disasters or acts of terrorism; the Company’s
ability to attract new clients; the economic and geopolitical
impact of the Russian invasion of Ukraine; the risk of global
economic downturn, slower growth, increasing interest rates and
high and sustained inflation; supply chain issues affecting the
distribution of our clients’ products; technological changes
and risks to the security of IT and operational infrastructure,
systems, data and information resulting from increased threat of
cyber and other attacks; the Company’s exposure to changes in
the values of other major currencies (because a substantial portion
of its revenues are derived and costs incurred outside of the UK);
and the overall level of economic activity in the Company’s
major markets (which varies depending on, among other things,
regional, national and international political and economic
conditions and government regulations in the world’s
advertising markets). In addition, you should consider the risks
described in Item 3D, captioned “Risk Factors” in the
company's 2022 Annual Report on Form 20-F, which could also cause
actual results to differ from forward-looking information. In light
of these and other uncertainties, the forward-looking statements
included in this document should not be regarded as a
representation by the Company that the Company’s plans and
objectives will be achieved. Neither the Company, nor any of its
directors, officers or employees, provides any representation,
assurance or guarantee that the occurrence of any events
anticipated, expressed or implied in any forward looking statements
will actually occur. The Company undertakes no obligation to update
or revise any such forward-looking statements, whether as a result
of new information, future events or otherwise.
EXHIBIT INDEX
Exhibit
No.
|
Description
|
1
|
Executive Share Awards dated 9 May 2023, prepared by WPP
plc.
|
FOR IMMEDIATE RELEASE
9 MAY 2023
WPP plc ("WPP")
Executive Share Awards
WPP's Executive Director's annual bonus for 2022 was delivered in
the form of a cash award and a deferred share award comprising 40%
of the total bonus achieved. The Executive Share Award (ESA)
will vest after two years, subject to continued
employment.
The 2022 ESA award was granted on 4 May 2023 as
follows:
Executive Director
|
Number of shares awarded
|
Mark Read
|
106,264
|
As announced on 8 November 2022, Joanne Wilson has been granted
awards under the WPP Share Plans. The awards are to
compensate Joanne for share incentives from her previous employer
that she forfeited on joining WPP and vest between May 2023 and
March 2025. These awards are no more generous in amount or
deferral schedule than the awards forfeited by Joanne and are
subject to performance conditions, where indicated.
Joanne has also received a 2023 award under the Executive
Performance Share Plan (EPSP) in the form of nil-cost options,
which are exercisable over WPP shares. The amount stated
represents the maximum possible opportunity.
The extent to which the award becomes exercisable in 2026 will
depend on WPP's performance over the three-year performance period
from 1 January 2023 to 31 December 2025.
EPSP 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.
Executive Director
|
Number of shares/nil cost options awarded
|
Vesting Date
|
Joanne Wilson
|
7,950
|
12 May 2023
|
27,212
|
10 March 20241
|
12,088
|
10 March 20241
|
16,901
|
2 December 2024
|
92,041
|
10 March 20251
|
240,645
|
15 March 2026
|
Notes
1)
Awards vesting in March 2024 are subject to the same performance
conditions as the 2021 EPSP and the award vesting in March 2025 is
subject to the same performance conditions as the 2022
EPSP.
2) These
awards were made in accordance with the terms of the 2020
Directors' Compensation Policy as approved by shareholders on 10
June 2020
3) To
the extent that each element of an award does not vest at the end
of the three- year performance period it will lapse
4) Additional
shares will be awarded at vesting in lieu of dividends on the
shares that vest
5) Awards
to Executive Directors are subject to an additional two-year
post-vesting holding period
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 Stock Plan 2018
|
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)
|
Conditional
Free Share Award
|
106,264
|
d)
|
Aggregated
information
-
Aggregated number
-
Aggregated Price
-
Total
|
N/A
(single transaction)
|
e)
|
Date of
the transaction
|
4 May
2023
|
f)
|
Place
of the transaction
|
London
Stock Exchange (XLON)
|
1.
|
Details of PDMR/person closely associated with them
('PCA')
|
a)
|
Name
|
Joanne
Wilson
|
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 nil cost options and conditional awards over WPP plc ordinary
shares under the WPP plc Executive Performance Share Plan and WPP
plc Stock Plan 2018
|
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
|
240,645
|
Conditional
Free Share Awards
|
156,192
|
d)
|
Aggregated
information
-
Aggregated number
-
Aggregated Price
-
Total
|
N/A
|
e)
|
Date of
the transaction
|
4 May
2023
|
f)
|
Place
of the transaction
|
London
Stock Exchange (XLON)
|
This notice is given in fulfilment of the obligation under Article
19 of the Market Abuse Regulation.
Balbir Kelly-Bisla
Group Company Secretary
Contact for further information:
Chris Wade, WPP
+44 (0)20 7282 4600
About WPP
WPP is the creative transformation company. We use the power of
creativity to build better futures for our people, clients and
communities. For more information, visit www.wpp.com.
END
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
|
WPP
PLC
|
|
(Registrant)
|
Date: 9
May 2023
|
By:
______________________
|
|
Balbir
Kelly-Bisla
|
|
Company
Secretary
|
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