John (Steady) Steedman, the chief operating officer of WPP AUNZ, has sold down his shares in the ASX-listed advertising company, the Australian arm of the world's biggest adevrtising company, WPP.
Jens Monsees, who started as CEO in October last year, bought 180,000 shares at a bit more than 62 cents each, for a total cost of $113,000.
He is also listed as holding 2,769,572 rights under a company share plan.
Monsees is on a pay package which potentially could give him several million dollars, including allowances, and short and long term incentives, in a year.
He also got a special allocation of $1.5 million in share rights, spread over the next two and a half years, as compensation for lost opportunity at his previous employer, BMW Group.
According to a filing with the ASX, Steedman, who was acting CEO before Monsees started, sold 320,000 shares in three lots on market for just under 60 cents each, raising more than $190,000.
Steadman still has a direct holding in the company, plus he is the beneficiary of a series of share schemes including 1,720,282 performance rights under a long term incentive plan.
Last month the company posted a full year statutory loss of $227.57 million with account losses in media and PR in a weak advertising and media market. Headline profit was down 9.6% to $51.19 million.
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