GlaxoSmithKline PLC
24 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 granted
on 3 December 2002, commenced on 1 January 2003 and came to an end on 31
December 2005.
The Remuneration Committee of the Board of GlaxoSmithKline plc considered the
performance achieved during this period and determined that 50% of these Awards
would vest on 23 February 2006.
There were two performance conditions attached to this award. The first
condition compared GlaxoSmithKline's total shareholder return (TSR) with the TSR
of companies in the FTSE 100 index. For any of the awards to vest under this
condition, GlaxoSmithKline had to rank at least 50th against the index
companies. None of the awards subject to this condition vested. The second
condition, which applied to the balance of the award, was achieved in full. The
condition required GlaxoSmithKline's business performance earnings per share
growth, excluding currency and exceptional items, to be at least nine percentage
points more than the increase in the UK Retail Price Index over the three year
performance period.
Details of the changes in the interests of the following Executive Directors
over Ordinary Shares and American Depositary Shares (ADSs) of GlaxoSmithKline
plc are given below.
Final award of Shares/ADSs sold to Price at which Shares/
Shares/ADSs meet tax liability ADSs sold
Shares ADSs
Dr JP Garnier* 35,000 0 -
Mr J S Heslop 2,500 1,025 shares £14.65
Dr 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 23
February 2006.
S M Bicknell
Company Secretary
24 February 2006
This information is provided by RNS
The company news service from the London Stock Exchange
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