5th Mar 2013 17:33
Notification of Transactions of
Directors and Persons Discharging Managerial Responsibility
Vesting of Conditional Options granted under GlaxoSmithKline Share Option Plan
This notification sets out information relating to the vesting of share options granted in 2009 under the GlaxoSmithKline Share Option Plan (SOP).
On 17 February 2009, share options were granted under the SOP to Executive Directors and Persons Discharging Managerial Responsibility (PDMR) at an option price of £11.77, or US $33.42 in the case of an American Depositary Share (ADS). The vesting of options was subject to an EPS performance condition.
The performance period for 50% of the options granted in 2009 to Executive Directors and PDMRs commenced on 1 January 2009 and ended on 31 December 2011. As announced last year, these options lapsed in full on 17 February 2012. The remaining 50% of the 2009 option grant was subject to meeting the performance condition over a four-year performance period which commenced on 1 January 2009 and ended on 31 December 2012.
The Company did not achieve the EPS performance condition at the end of the four-year performance period to 31 December 2012 and therefore the Remuneration Committee has confirmed that the options conditionally granted to the participants listed below lapsed in full on 1 March 2013.
|
Number of lapsed options over Ordinary Shares/ADS
| |
Ordinary Shares | ADS | |
Dr M Slaoui* | 79,375 | |
Mr S Bicknell | 25,250 | |
Ms D Connelly | 88,750 | |
Mr M Dunoyer | 46,250 | |
Mr A Hussain | 88,750 | |
Mr W Louv | 28,750 | |
Mr D Redfern | 35,000 | |
Ms C Thomas | 46,250 | |
Mr D Troy | 44,375 | |
* Denotes an Executive Director
The Company, Executive Directors and PDMRs were advised of these transactions on 4 March 2013.
This notification is made in accordance with Disclosure and Transparency Rule 3.1.4R(1)(a).
V A Whyte
Company Secretary
5 March 2013
Related Shares:
Glaxosmithkline