Business Context and Reporting Period
This Form 6-K filing by GlaxoSmithKline plc (GSK) covers the period ending January 16, 2017. The document serves as a transaction notification reporting changes in the notional interest of Ordinary Shares and American Depositary Shares (ADSs) held by Persons Discharging Managerial Responsibilities (PDMRs) and persons closely associated with them. The transactions were executed on January 12, 2017, resulting from the re-investment of dividends paid on that date into the Company's 2009 Deferred Annual Bonus Plan.
Key Financial Metrics
The filing does not contain corporate financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. It exclusively details share transaction volumes and prices for executive compensation plans.
| Instrument | Transaction Price | Total Volume (Shares/ADSs) |
|---|---|---|
| Ordinary Shares (GBP) | £15.66 | 11,755.258 |
| American Depositary Shares (USD) | $39.01 | 2,055.598 |
Note: Total volumes are aggregated from the individual transactions listed for all PDMRs in the filing.
Material Changes
The filing reports an increase in notional shareholdings for the following executives due to dividend re-investment:
- Sir Andrew Witty (CEO): 3,463.948 Ordinary Shares.
- Ms E Walmsley (CEO Designate): 1,343.746 Ordinary Shares.
- Mr R G Connor (President, Global Manufacturing & Supply): 765.45 Ordinary Shares.
- Mr S Dingemans (CFO): 1,863.862 Ordinary Shares.
- Mr N Hirons (SVP, Global Ethics & Compliance): 489.132 Ordinary Shares.
- Mr S A Hussain (President, Global Pharmaceuticals): 1,388.538 Ordinary Shares.
- Mr D S Redfern (Chief Strategy Officer): 960.986 Ordinary Shares.
- Dr M M Slaoui (Chairman, Global Vaccines): 1,327.422 ADSs.
- Ms C Thomas (SVP, Human Resources): 1,133.866 Ordinary Shares.
- Mr P C Thomson (SVP, Communications & Government Affairs): 410.864 Ordinary Shares.
- Mr D E Troy (SVP & General Counsel): 728.176 ADSs.
- Dr P J T Vallance (President, Pharmaceuticals R&D): 1,858.758 Ordinary Shares.
Guidance, Outlook, and Risks
The filing text does not provide management commentary, financial guidance, outlook, risk factors, contingencies, or unusual items. The document is strictly a regulatory disclosure of insider share transactions.
Investor Verification Checklist
- Verify the dividend payment date of January 12, 2017, to confirm the timing of the re-investment.
- Confirm the share price of £15.66 for Ordinary Shares and $39.01 for ADSs on the transaction date.
- Review the 2009 Deferred Annual Bonus Plan rules to understand the matching share mechanics noted in the transaction details.
- Note that Ms E Walmsley is listed as "CEO Designate," indicating a leadership transition context.
- Check subsequent filings for the actual vesting or settlement of these notional shares.