Notification of Transactions of
Directors and Persons Discharging Managerial Responsibility
Award under the GlaxoSmithKline Deferred Investment Award programme
I give below details of changes in the interests of the under-mentioned Persons Discharging Managerial Responsibility ("PDMRs") in the Ordinary Shares of the Company ("Ordinary Shares") as a result of awards made under the GlaxoSmithKline Deferred Investment Award programme on 12 June, 2014.
Awards are made over notional Ordinary Shares with vesting phased over a specified period to provide long-term alignment with shareholders. Vesting is subject to the individual not having served the Company notice or having been terminated by the Company for cause. Notional dividends will accrue on the award during the vesting period through dividend reinvestment in additional notional shares. On vesting, the award and accrued dividends will be paid in cash. Executive Directors are not eligible to receive awards under the programme.
For the following PDMRs, 50% of the award will vest on 23 September, 2016, 50% of the remaining balance of the award will vest on 23 September, 2017 and the remainder will then vest on 23 September, 2018.
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PDMR
|
Number of notional Ordinary Shares subject to the award
|
|
Roger Connor
|
24,748.646
|
|
Abbas Hussain
|
30,935.808
|
|
David Redfern
|
24,748.646
|
|
Claire Thomas
|
24,748.646
|
|
Patrick Vallance
|
30,935.808
|
For the following PDMR, 50% of the award will vest on 23 September, 2017, 50% of the remaining balance of the award will vest on 23 September, 2018 and the remainder will then vest on 23 September, 2019.
|
PDMR
|
Number of notional Ordinary Shares subject to the award
|
|
Emma Walmsley
|
30,935.808
|
All of the above awards were made on 12 June, 2014. The awards were determined using an Ordinary Share price of £16.1625, the average of the high and low prices quoted on the London Stock Exchange on 12 June, 2014.
The Company and PDMRs were advised of these transactions on 13 June, 2014.
This notification is made in accordance with Disclosure and Transparency Rule 3.1.4R(1)(a).
Victoria A Whyte
Company Secretary
13 June, 2014