Business Context and Reporting Period
This Form 6-K filing by GlaxoSmithKline plc covers the period ending March 2016. The report serves as a notification of transactions involving Directors and Persons Discharging Managerial Responsibility (PDMR) regarding the withholding of American Depositary Shares (ADS) to satisfy tax liabilities.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figure disclosed is the fair market value of ADSs used for tax withholding, which was $39.14 per ADS (closing price on February 26, 2016).
Material Changes
No material changes to the company's financial position or operations are reported in this document. The filing details specific share reductions for two individuals due to the vesting of pre-tax awards granted in 2013 under the GlaxoSmithKline 2009 Deferred Annual Bonus Plan (DABP).
Management Commentary and Risks
Management commentary is limited to the administrative notification of share withholdings. The transactions were advised on February 29, 2016, and relate to awards vesting on February 28, 2016. No new risks, contingencies, or unusual items are disclosed in this specific filing.
Important Facts for Investors
- Transaction Type: Withholding of ADSs to meet tax liabilities following the vesting of 2013 Deferred Annual Bonus Plan awards.
- Share Price: ADSs were valued at $39.14 per share for the withholding calculation.
- Individuals Involved:
- Dr. M. Slaoui (Executive Director): 11,083 ADSs withheld.
- Mr. D. Troy (PDMR): 5,108 ADSs withheld.
- Reporting Limitation: This filing contains no consolidated financial results for the quarter or year.