Jens Monsees buys 420,000 WPP AUNZ shares for $98,700
WPP AUNZ CEO Jens Monsees has acquired an additional 420,000 shares in the company, paying a total of $98,700, or 23.5c per share. The business’ current share price is 22c, tumbling from a 52-week high of 69c.
Monsees now holds 600,000 ordinary shares in the company, having already held 180,000, and has a further 2,769,572 share rights, according to the document filed with the Australian Securities Exchange (ASX) this morning.
Since the CEO forfeited bonuses and other entitlements at his former employer – BMW Germany – by accepting the WPP AUNZ role, he received a one-time grant of rights of $1.5m in WPP AUNZ shares, as revealed in the company’s annual report, to vest in three equal tranches at the end of 2019, 2020 and 2021.
And Robert Mactier, the Chairman of WPP AUNZ, bought 422,036 shares on 11 May. Pretty strong indication that the business is not in too bad a shape. Share price still trading at close to record-low prices.
In fairness, $100k to these guys is close to pocket change.
Especially useful when that pocket change gives the impression the business is in better shape than the market thinks.
I’ll be more inclined to buy in when there is more than 6.6% of Jens’ base salary (excl bonus and expat perks) at stake…
WPP stock price is, like many others, COVID-affected and will bounce back – no brainer to buy in now and double your money in 12 mths.
…and isn’t it comforting that those with wealth and means can continue to make money from this while those employees who work for him across WPP are making the real sacrifices