GlaxoSmithKline PLC Director/PDMR Shareholding (2241V)
06 August 2015 - 12:41AM
UK Regulatory
TIDMGSK
RNS Number : 2241V
GlaxoSmithKline PLC
05 August 2015
GlaxoSmithKline plc
Notification of Transactions of Directors and Persons
Discharging Managerial Responsibility
Grant of Conditional Share Award under GlaxoSmithKline
Performance Share Plan
I give below details of changes in the interests of the
below-mentioned Person Discharging Managerial Responsibility
("PDMR") in the Ordinary Shares of the Company ("Ordinary Shares")
as a result of an award made under the 2009 Performance Share Plan
("PSP") on 4 August, 2015.
This award was made following the completion and implementation
of the three-way transaction with Novartis in recognition of Ms
Walmsley's increased role and responsibility as CEO of the new
joint venture, GSK Consumer Healthcare.
PDMR Number of Ordinary Shares subject
to the award
--------------- ----------------------------------
Emma Walmsley 59,493
--------------- ----------------------------------
The PSP was approved by shareholders on 20 May 2009, and allows
a performance-related opportunity in the form of conditional awards
to be made to senior executives in the Group, including the
Executive Directors.
Under the terms of the PSP, a conditional award is granted over
a specific number of Ordinary Shares, and the percentage of the
award that ultimately vests is dependent on the level of
achievement against performance targets set by the Remuneration
Committee. This award is conditional on three equally weighted
performance measures, as set out in announcements from the Company
on 12 February and 31 July 2015.
Dividends will accrue on the conditional award of Ordinary
Shares during the three-year performance period, but will only vest
to the extent that the awards themselves vest at the end of the
performance period.
The vesting date for this conditional award will be the date,
following the end of the three year performance period, on which
the Remuneration Committee determines the extent to which the
performance conditions have been achieved or such other later date
as determined by the Remuneration Committee.
The above conditional award was made on 4 August 2015. The
closing price of an Ordinary Share on 4 August 2015 was
GBP14.01.
The Company and Ms Walmsley were advised of this transaction on
5 August 2015.
This notification is made in accordance with Disclosure and
Transparency Rule 3.1.4R(1)(a).
V A Whyte
Company Secretary
5 August 2015
This information is provided by RNS
The company news service from the London Stock Exchange
END
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