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GlaxoSmithKline PLC (GSK)

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Tuesday 17 February, 2015

GlaxoSmithKline PLC

Director/PDMR Shareholding

RNS Number : 1682F
GlaxoSmithKline PLC
17 February 2015
 

Notification of Transactions of

Directors and Persons Discharging Managerial Responsibility

 

Vesting of Dividend Shares attaching to Conditional Share Awards

 

This notification sets out information relating to the vesting of conditional share awards under the GlaxoSmithKline 2009 Performance Share Plan (the "Performance Share Plan") and the 2009 Deferred Annual Bonus Plan (the "Deferred Annual Bonus Plan").

 

This announcement covers the vesting of shares from dividends related to the awards made to Corporate Executive Team members and to senior executives who have subsequently been designated as Persons Discharging Managerial Responsibility in 2012, which awards were the subject of a vesting announcement on 13 February.  It was indicated in that announcement that the dividend shares would be announced once the final number of dividend shares had been notified to the Company. 

 

2012 Performance Share Plan Award Dividend Shares

 

As previously announced, 13.5% of the 2012 Performance Share Plan awards vested.  

 

The table below shows the proportion of the dividend shares associated with the 2012 Performance Share Plan awards that vested and lapsed on 12 February 2015: 


Dividend shares which have vested

 

Dividend shares which have lapsed

 

Ordinary Shares

ADS

Ordinary Shares

ADS

Sir Andrew Witty*

9,990


63,989


Mr S Dingemans*

3,846


24,636


Dr M Slaoui*


2,933


18,788

Ms D Connelly


1,215


7,781

Mr A Hussain

2,514


16,099


Mr W Louv


862


5,510

Mr D Redfern

1,441


9,229


Ms C Thomas

1,889


12,101


Mr P Thomson

962


6,151


Mr D Troy


1,595


10,212

Mr P Vallance

3,682


23,586


Ms E Walmsley

2,177


13,947


* denotes an Executive Director

**25% of Sir Andrew Witty's vested shares (i.e., 14,915 ordinary shares) will be held back, "the holding tranche", for an additional two years as agreed with shareholders beginning with his 2012 Performance Share Plan award. The same treatment will also be applied to the equivalent proportion of the above dividend shares which have vested.

 

2012 Deferred Annual Bonus Awards

 

The table below shows the dividend shares that relate to the pre tax Deferred Awards that will vest on the third anniversary of grant, 9 March 2015. 

 


Nil Cost Option over Ordinary Shares (Deferred Bonus Awards): Dividend Shares

 

Conditional Awards of ADSs (Deferred Bonus Awards): Dividend Shares

Vested

Vested

Sir Andrew Witty*

8,357


Mr S Dingemans*

4,934


Dr M Slaoui*


3,290

Ms D Connelly


961

Mr W Louv


832

Mr D Redfern

2,108


Ms C Thomas

2,590


Mr D Troy


1,726

Mr P Vallance

3,590


Ms E Walmsley

1,789


* Denotes an Executive Director

 

The table below shows the dividend shares that relate to the post tax Deferred Award that will vest on the third anniversary of grant, 12 March 2015. 


Co-Investment Shares ADSs: Dividend Shares

Released

Ms D Connelly

182

 

As announced on 13 February and noted above, for the three year period 1 January 2012 to 31 December 2014, the Remuneration Committee has confirmed that 13.5% of the award of Matching Shares will vest based on performance and that the balance lapsed.  The table below shows the dividend shares relating to the pre tax Matching Awards that will vest on 9 March 2015, the third anniversary of the Award.  

 


Nil Cost Option over Ordinary Shares (Matching Shares): Dividend Shares

 

Conditional Awards over ADSs (Matching Shares): Dividend Shares

Vested

Lapsed

Vested

Lapsed

Sir Andrew Witty*

1,128

7,229



Mr S Dingemans*

666

4,268



Dr M Slaoui*



445

2,845

Ms D Connelly



130

831

Mr W Louv



113

719

Mr D Redfern

285

1,823



Ms C Thomas

351

2,239



Mr D Troy



234

1,492

Mr P Vallance

485

3,105



Ms E Walmsley

242

1,547



* Denotes an Executive Director

 

The above nil cost options in respect of Deferred Shares and Matching Shares can be exercised until 9 March 2022.  Dividends no longer accrue on these shares following vesting.

 

The table below shows the dividend shares relating to the post tax Matching Shares that will vest on 12 March 2015, the third anniversary of the Award: 

 


Conditional Awards over ADSs: Dividend Shares

Vested

Lapsed

Ms D Connelly

26

159

 

2012 Performance Share Plan Award Dividend Shares for senior executives who have since been designated PDMRs

 

The table below shows the proportion of the dividend shares related to the 2012 Performance Share Plan conditional awards that vested and lapsed on 12 February 2015 per the previous Friday, 13 February announcement. 

 


Dividend shares which have vested

Dividend shares which have lapsed

Ordinary Shares

Ordinary Shares

Mr R Connor

0

2,709

Mrs V Whyte

0

1,975




ADSs

ADSs

Mr N Hirons

0

1,129

 

 

The Company, Executive Directors and PDMRs were advised of these transactions on 16 February 2015.

 

The closing share prices of an Ordinary Share and of an ADS of GlaxoSmithKline plc at the point of vesting on 12 February 2015 were £14.855 and US$45.95 respectively.

 

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

 

 

VA Whyte

Company Secretary

 

17 February 2015


This information is provided by RNS
The company news service from the London Stock Exchange
 
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