19th Feb 2009 16:46
Notification of Transactions of Directors and
Persons Discharging Managerial Responsibility
Vesting of awards made under GlaxoSmithKline's share plans in 2006
This notification, prepared in accordance with Disclosure and Transparency Rule 3.1.4R(1)(a), sets out the vesting of share awards made in 2006, under the GlaxoSmithKline Performance Share Plan.
The three-year performance period for the GlaxoSmithKline Performance Share Plan (PSP) awards made in 2006, which commenced on 1 January 2006, came to an end on 31 December 2008.
The Remuneration Committee of the Board of GlaxoSmithKline plc (GSK) considered the performance achieved in respect of the PSP awards and determined that:
the PSP awards granted in 2006 to Executive Directors and Corporate Executive Team (CET) members, were dependent on Total Shareholder Return (TSR) performance. These awards lapsed in full because the Company's relative Total Shareholder Return (TSR) performance was below the median of the comparator group;
the PSP awards granted in 2006 to other senior executives, including individuals who have since been appointed an Executive Director or CET member, were dependent in part on TSR performance and in part on EPS performance. Half of these awards lapsed as GSK's TSR performance was below the median of the comparator group and half of these awards vested as GSK's EPS performance exceeded the target level for full vesting.
The following PSP awards, made in 2006, to the then Executive Directors and CET members, who are all persons discharging managerial responsibility (PDMRs), have not vested and have therefore lapsed.
|
Awards that have not vested and therefore lapsed |
Ordinary Shares |
ADSs |
|
Mr A P Witty* |
77,000 |
|
|
Mr J S Heslop* |
100,000 |
|
|
Mr J M Clarke |
77,000 |
|
|
Mr M Dunoyer |
29,000 |
|
|
Mr D J Phelan |
38,500 |
|
|
Mr D Pulman |
25,000 |
* Denotes an Executive Director.
Half of the PSP awards, made in 2006, to senior executives who have since been appointed Executive Directors or CET members, vested on 18 February 2009 and half of the awards lapsed, as set out in the table below.
|
Number of Ordinary Shares / ADSs vesting |
||
|
Ordinary Shares |
ADSs |
|
|
Dr M M Slaoui* |
15,049 |
|
|
Mr S M Bicknell |
3,152 |
|
|
Mr E J Gray |
6,676 |
|
|
Mr D Learmouth |
3,152 |
|
|
Mr W C Louv |
2,955 |
|
|
Mr D S Redfern |
6,676 |
|
|
Mr J R Stéphenne |
15,049 |
|
|
Ms C Thomas |
5,024 |
|
* denotes an Executive Director
The Company, Directors, and PDMRs were advised of these transactions on 19 February 2009.
V A Whyte
Deputy Company Secretary
19 February 2009
|
Enquiries: |
||
|
UK Media enquiries: |
Philip Thomson |
(020) 8047 5502 |
|
David Outhwaite |
(020) 8047 5502 |
|
|
Stephen Rea |
(020) 8047 5502 |
|
|
US Media enquiries: |
Nancy Pekarek |
(919) 483 2839 |
|
Mary Anne Rhyne |
(919) 483 2839 |
|
|
Kevin Colgan |
(919) 483 2839 |
|
|
Sarah Alspach |
(215) 751 7709 |
|
|
European Analyst/Investor enquiries: |
David Mawdsley |
(020) 8047 5564 |
|
Sally Ferguson |
(020) 8047 5543 |
|
|
Gary Davies |
(020) 8047 5503 |
|
|
US Analyst/ Investor enquiries: |
Tom Curry |
(215) 751 5419 |
|
Jen Hill |
(215) 751 7002 |
Related Shares:
Glaxosmithkline