Director/PDMR Shareholding
Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons
Vesting of 2008 GlaxoSmithKline Performance Share Plan Awards
This notification sets out information relating to the vesting of awards granted in 2008 under the GlaxoSmithKline Performance Share Plan (the Performance Share Plan).
The three-year performance period for these awards commenced on 1 January 2008 and ended on 31 December 2010.
Awards granted in 2008 to senior executives were dependent on TSR performance (50% of award) and EPS performance (remaining 50% of award). Half of these awards lapsed as GSK's EPS performance conditions were not met, and 35% of the proportion of the awards subject to the TSR performance measure vested. This means that 17.5% of the full award has vested.
The table below shows the proportion of these Performance Share Plan awards that vested and lapsed on 25 February 2011.
|
|
Awards vesting under TSR measure - 35% of TSR portion of award (17.5% of total award) |
Awards that have not vested under TSR measure - 65% of TSR portion of award (32.5% of total award)
|
Awards that have not vested under EPS measure (50% of total award) |
|
Ordinary Shares |
Ordinary Shares |
Ordinary Shares |
|
|
Mrs V A Whyte |
371 |
689 |
1,060 |
The Company and the Person Discharging Managerial Responsibility were advised of these transactions on 25 February 2011.
This notification is made in accordance with Disclosure and Transparency Rule 3.1.4R(1)(a).
V A Whyte
Company Secretary
25 February 2011
This information is provided by RNS