Business Context and Reporting Period
This Form 6-K filing by GlaxoSmithKline plc covers the period ending February 2012. The report serves as a notification of transactions involving Directors and Persons Discharging Managerial Responsibility (PDMR) under the GlaxoSmithKline 2009 Performance Share Plan (PSP).
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. It focuses exclusively on equity transactions related to executive compensation.
Key transaction metrics include:
- Ordinary Shares Sale Price: £14.05 per share (February 20, 2012).
- ADS Withholding Price: $44.88 per ADS (February 17, 2012 closing price).
Material Changes
The filing details changes in shareholdings for specific executives resulting from the vesting of PSP awards. These changes are not operational or financial performance changes but rather adjustments to equity interests to meet tax liabilities.
| Executive | Transaction Type | Quantity |
|---|---|---|
| Sir Andrew Witty (Executive Director) | Ordinary Shares Sold | 135,842 |
| Dr M Slaoui (Executive Director) | ADSs Withheld | 15,159 |
| Mr S M Bicknell | Ordinary Shares Sold | 6,132 |
| Ms D Connelly | ADSs Withheld | 14,317 |
| Mr J M Clarke | Ordinary Shares Sold | 22,217 |
| Mr W C Louv | ADSs Withheld | 4,510 |
| Mr M Dunoyer | Ordinary Shares Sold | 2,951 |
| Dr D Pulman | ADSs Withheld | 6,945 |
| Mr E Gray | Ordinary Shares Sold | 14,427 |
| Mr D Troy | ADSs Withheld | 11,637 |
| Mr D S Redfern | Ordinary Shares Sold | 8,368 |
| Ms C Thomas | Ordinary Shares Sold | 11,397 |
| Mr P Thomson | Ordinary Shares Sold | 318 |
| Mr P Vallance | Ordinary Shares Sold | 10,939 |
| Mrs V Whyte | Ordinary Shares Sold | 318 |
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. It is a compliance notification pursuant to Disclosure and Transparency Rule 3.1.4R(1)(a).
Investor Verification Checklist
- Verify the total number of shares sold or withheld by Executive Directors versus other PDMRs.
- Confirm the share price used for tax calculations (£14.05 for Ordinary shares and $44.88 for ADSs) against market data for the specified dates.
- Review the vesting schedule of the 2009 Performance Share Plan to understand the timing of these awards.
- Note that this filing does not reflect the company's operational financial results for the period.