23rd Feb 2007 17:49
GlaxoSmithKline PLC23 February 2007 Notification of Transactions of Directors, Persons Discharging ManagerialResponsibility or Connected Persons Completion of Performance Period ended on 31st December 2006 in respect of awards made under the GlaxoSmithKline Performance Share Plan The three-year performance period for the GlaxoSmithKline Performance Share Plan(PSP) awards made in 2003, which commenced on 1 January 2004, came to an end on31 December 2006. The Remuneration Committee of the Board of GlaxoSmithKline plc (GSK) consideredthe performance achieved in respect of the PSP awards and determined that: • the PSP awards made in 2003 would not vest for the Executive Directorsand Corporate Executive Team (CET) members who received these awards because theCompany's relative Total Shareholder Return (TSR) performance was below themedian; • the PSP awards made in 2003 to other senior executives, who have sincebeen appointed an Executive Director or CET member, were dependent in part onTSR performance and in part on EPS performance. Half this award lapsed as GSK'sTSR performance was below the median and half this award vested as GSK's EPSperformance exceeded the target level for full vesting; The following PSP awards, made in 2003, to the then Executive Directors and CETmembers, who are all persons discharging managerial responsibility (PDMRs), havenot vested and have therefore lapsed. Awards that have not vested and therefore lapsed Ordinary Shares ADSs Dr JP Garnier* 200,000Mr D Stout 74,000Mr R Bondy 77,000Mr D Phelan 38,500Mr C Viehbacher 38,500Dr R Greig 25,000Mr D Pulman 50,000Mr A Witty 59,000Mr M Dunoyer 29,000 * Denotes an Executive Director. Half of the PSP awards, made in 2003, to senior executives who have since beenappointed Executive Directors or CET members, vested on 23 February 2007 andhalf of the awards lapsed, as set out in the table below. Initial award of Final award with 50% vesting of Shares/ADSs Shares/ADSs Shares ADSs Shares ADSsDr M Slaoui* 5,000 2,500Mr J Heslop* 5,000 2,500Mr J Clarke 14,000 7,000Mr D Learmouth 3,000 1,500Mr W Louv 2,000 1,000 * Denotes an Executive Director The Company, the Executive Directors and other PDMRs were informed of thevesting on 23 February 2007. S M BicknellCompany Secretary 23 February 2007 Enquiries: UK Media enquiries: Philip Thomson (020) 8047 5502 Alice Hunt (020) 8047 5502 Gwenan White (020) 8047 5502 US Media enquiries: Nancy Pekarek (215) 751 7709 Mary Anne Rhyne (919) 483 2839 Patricia Seif (215) 751 7709 European Analyst/Investor enquiries: Anita Kidgell (020) 8047 5542 David Mawdsley (020) 8047 5564 Sally Ferguson (020) 8047 5543 US Analyst/ Investor enquiries: Frank Murdolo (215) 751 7002 Tom Curry (215) 751 5419 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Glaxosmithkline