LONDON (Alliance News) - Advertising giant WPP PLC Friday said strategy director Mark Read had exercised options over around 20,000 shares, before selling more than half of them.
Read, who is also CEO of WPP Digital, exercised options over 10,615 shares at 559.5 pence each, and over over 9,879 shares at 553.5 pence each. The options had been awarded under the company's executive share option scheme.
He sold 12,965 of the shares at a price of 1,281 pence each to fund subscription costs and taxes, the company said, and retained the balance of 7,529 shares.
The transaction took Read's beneficial holding in the company to 115,713 shares, still less than 1% of the company.
Shares in WPP were trading at 1,290 pence Friday morning, up 10p or 0.8%.
By Philip Nye; philipnye@alliancenews.com;
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