LONDON (Alliance News) - WPP PLC Tuesday said Chief Executive Officer Martin Sorrell exercised options over 817,500 shares under the company share plan Friday and sold 421,585 of these shares to discharge the consequential US tax liabilities.
Following this transaction, Sorrell is interested in 20 million shares which represents 1.4790% stake in the firm.
The company also said, Finance Director Paul Richardson exercised options over 502,352 shares and sold 472,057 shares for tax purposes and now holds 711,665 shares in total.
Shares in the media buying company were trading up 1.4% at 1,272.00 pence Tuesday morning.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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WPP (WPP)
