Sorrell in £780,000 WPP share sale

LONDON - WPP chief executive Sir Martin Sorrell has sold around £780,000 of company shares in order to fund tax payments, according to a company filing.

Sir Martin Sorrell: WPP chief executive
Sir Martin Sorrell: WPP chief executive

The tranche of 122,536 shares was sold yesterday (8 March), during which WPP's share price ranged between 628p and 647p.

It equates to just 0.7% of the total of 17 million WPP shares Sorrell and his family interests own or have rights to; the amount accounts for 1.36% of the company.

Sorrell has just become entitled to receive 722,678 shares awarded to him by two separate executive bonus schemes.

He has deferred receipt of 562,245 shares awarded to him under one scheme, the company's Leadership Equity Acquisition Plan, in 2005. He is entitled to exercise his option to receive these shares at any time until 30 November 2012.

He also became entitled to receive 160,433 shares awarded in 2008 in the company's Executive Share Awards scheme. A WPP spokesman said it was likely Sorrell sold the shares yesterday to meet taxes in connection with this award.

Two other executives, finance director Paul Richardson and strategy director Mark Read, also received shares this week under the two schemes, and sold a number of shares yesterday.


Become a member of Campaign from just £45 a quarter

Get the very latest news and insight from Campaign with unrestricted access to ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content


1 Why creative people have lost their way

What better way to kick off the inaugural issue of Campaign's monthly print offering than with another think piece on the current failings of our industry, written by an embittered, pretentious creative who misses "the way things used to be"...


1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).