24th Feb 2006 18:22
GlaxoSmithKline PLC24 February 2006 Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons Vesting of Performance Share Plan Award The three year performance period for the Performance Share Plan Awards grantedon 3 December 2002, commenced on 1 January 2003 and came to an end on 31December 2005. The Remuneration Committee of the Board of GlaxoSmithKline plc considered theperformance achieved during this period and determined that 50% of these Awardswould vest on 23 February 2006. There were two performance conditions attached to this award. The firstcondition compared GlaxoSmithKline's total shareholder return (TSR) with the TSRof companies in the FTSE 100 index. For any of the awards to vest under thiscondition, GlaxoSmithKline had to rank at least 50th against the indexcompanies. None of the awards subject to this condition vested. The secondcondition, which applied to the balance of the award, was achieved in full. Thecondition required GlaxoSmithKline's business performance earnings per sharegrowth, excluding currency and exceptional items, to be at least nine percentagepoints more than the increase in the UK Retail Price Index over the three yearperformance period. Details of the changes in the interests of the following Executive Directorsover Ordinary Shares and American Depositary Shares (ADSs) of GlaxoSmithKlineplc are given below. Final award of Shares/ADSs sold to Price at which Shares/ Shares/ADSs meet tax liability ADSs sold Shares ADSsDr JP Garnier* 35,000 0 -Mr J S Heslop 2,500 1,025 shares £14.65Dr T Yamada 10,000 4,119 ADSs $51.3499 *Dr Garnier has elected to defer his award until his retirement. The Company and the Executive Directors were informed of these changes on 23February 2006. S M BicknellCompany Secretary 24 February 2006 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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