GlaxoSmithKline PLC
23 February 2007
Notification of Transactions of Directors, Persons Discharging Managerial
Responsibility or Connected Persons
Completion of Performance Period ended on 31st December 2006
in respect of awards made under the GlaxoSmithKline Performance Share Plan
The three-year performance period for the GlaxoSmithKline Performance Share Plan
(PSP) awards made in 2003, which commenced on 1 January 2004, came to an end on
31 December 2006.
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 made in 2003 would not vest for the Executive Directors
and Corporate Executive Team (CET) members who received these awards because the
Company's relative Total Shareholder Return (TSR) performance was below the
median;
• the PSP awards made in 2003 to other senior executives, 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 this award lapsed as GSK's
TSR performance was below the median and half this award vested as GSK's EPS
performance exceeded the target level for full vesting;
The following PSP awards, made in 2003, 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
Dr JP Garnier* 200,000
Mr D Stout 74,000
Mr R Bondy 77,000
Mr D Phelan 38,500
Mr C Viehbacher 38,500
Dr R Greig 25,000
Mr D Pulman 50,000
Mr A Witty 59,000
Mr M Dunoyer 29,000
* Denotes an Executive Director.
Half of the PSP awards, made in 2003, to senior executives who have since been
appointed Executive Directors or CET members, vested on 23 February 2007 and
half of the awards lapsed, as set out in the table below.
Initial award of Final award with 50% vesting of
Shares/ADSs Shares/ADSs
Shares ADSs Shares ADSs
Dr M Slaoui* 5,000 2,500
Mr J Heslop* 5,000 2,500
Mr J Clarke 14,000 7,000
Mr D Learmouth 3,000 1,500
Mr W Louv 2,000 1,000
* Denotes an Executive Director
The Company, the Executive Directors and other PDMRs were informed of the
vesting on 23 February 2007.
S M Bicknell
Company Secretary
23 February 2007
Enquiries:
UK Media enquiries: Philip Thomson (020) 8047 5502
Alice Hunt (020) 8047 5502
Gwenan White (020) 8047 5502
US Media enquiries: Nancy Pekarek (215) 751 7709
Mary Anne Rhyne (919) 483 2839
Patricia Seif (215) 751 7709
European Analyst/Investor enquiries: Anita Kidgell (020) 8047 5542
David Mawdsley (020) 8047 5564
Sally Ferguson (020) 8047 5543
US Analyst/ Investor enquiries: Frank Murdolo (215) 751 7002
Tom Curry (215) 751 5419
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.