Director/PDMR Shareholding

RNS Number : 6409H

GlaxoSmithKline PLC

24 February 2010

 



Notification of Transactions of Directors and Persons Discharging Managerial Responsibility

Vesting of 2007 GlaxoSmithKline Performance Share Plan Awards

The three-year performance period for the GlaxoSmithKline Performance Share Plan (the Performance Share Plan) awards made in 2007, which commenced on 1 January 2007, came to an end on 31 December 2009.

The Remuneration Committee considered the performance achieved in respect of the PSP awards and determined that the:

·     awards granted to Executive Directors and CET members in office in 2007 were dependent on Total Shareholder Return (TSR) performance. The Company ranked at the median of the comparator group and therefore 35% of the awards subject to the TSR measure vested.

·     awards granted in 2007 to senior executives who have since been appointed a CET member, were dependent in part on TSR performance and in part on EPS performance. Half of these awards lapsed as GSK's EPS performance conditions were not met, and 35% of the half of the awards subject to the TSR performance measure vested.

The following Performance Share Plan awards made to the Executive Directors and CET members in office in 2007, vested in part on 23 February 2010 and the balance of the award lapsed, as set out in the table below:

	Awards vesting under TSR measure - 35% of award
	Ordinary Shares	ADSs
Mr A Witty*	29,750
Mr J S Heslop*	36,750
Mr M Slaoui*		24,150
Mr J M Clarke	26,950
Mr M Dunoyer	10,150
Mr D Learmouth	7,438
Mr W C Louv		8,750
Mr D J Phelan		13,475
Mr D Pulman		8,750

* denotes an Executive Director

Half of the award made in 2007 to senior executives who have since been appointed a CET member lapsed, the other half of the award vested in part (35%), the balance lapsed, on 23 February 2010 as set out in the table below:  

	Awards that have not vested under EPS measure	Awards vesting under TSR measure - 35% of TSR portion of award
	Ordinary Shares	Ordinary Shares
Mr S M Bicknell	4,440	1,554
Mr E J Gray	5,900	2,065
Mr D S Redfern	5,900	2,065
Mr J R Stephenne	13,300	4,655
Ms C Thomas	4,440	1,554

The Company and PDMRs were advised of these transactions on 24 February 2010.

This notification is made in accordance with Disclosure and Transparency Rule 3.1.4R(1)(a).

V Whyte

Deputy Company Secretary

24 February 2010

Enquiries:
UK Media enquiries:	Philip Thomson	[phone]
	Claire Brough	[phone]
	Stephen Rea	[phone]
	Alexandra Harrison	[phone]
US Media enquiries:	Nancy Pekarek	[phone]
	Mary Anne Rhyne	[phone]
	Kevin Colgan	[phone]
	Sarah Alspach	[phone]
European Analyst/Investor enquiries:	David Mawdsley	[phone]
	Sally Ferguson	[phone]
	Gary Davies	[phone]
US Analyst/ Investor enquiries:	Tom Curry	[phone]
	Jen Hill Baxter	[phone]

 

END

 

 

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