Business Context and Reporting Period
This Form 6-K filing by GlaxoSmithKline plc covers the period ending September 26, 2016. The document serves as a transaction notification regarding the vesting of deferred investment awards for specific Persons Discharging Managerial Responsibilities (PDMRs) under the GlaxoSmithKline Deferred Investment Award Plan.
Key Financial Metrics
The filing does not report consolidated revenue, profit, cash flow, margins, debt, or liquidity metrics for the company. It exclusively details specific executive compensation transactions.
| Executive Name | Position | Transaction Date | Instrument | Volume (Notional Shares) | Price per Share | Cash Payment (Pre-Tax) |
|---|---|---|---|---|---|---|
| Mr. R G Connor | President, Global Manufacturing & Supply | 2016-09-23 | Ordinary Shares | 14,376.963 | £16.49 | £237,076.13 |
| Mr. S A Hussain | President, Global Pharmaceuticals | 2016-09-23 | Ordinary Shares | 17,971.204 | £16.49 | £296,345.16 |
| Mr. D S Redfern | Chief Strategy Officer | 2016-09-23 | Ordinary Shares | 14,376.963 | £16.49 | £237,076.13 |
| Ms. C Thomas | SVP, Human Resources | 2016-09-23 | Ordinary Shares | 14,376.963 | £16.49 | £237,076.13 |
| Dr. P J T Vallance | President, Pharmaceuticals Research & Development | 2016-09-23 | Ordinary Shares | 17,971.204 | £16.49 | £296,345.16 |
Material Changes
The filing does not provide comparative financial data or material changes to the company's operational performance versus prior periods. The only changes reported are the vesting of 50% of awards originally granted on June 12, 2014, resulting in cash settlements for the named executives.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, risk factors, or contingencies related to the company's business operations. It is a statutory disclosure of executive compensation events.
Investor Verification Checklist
- Verify the total cash outflow for these specific executive awards is approximately £1.3 million (sum of pre-tax payments).
- Confirm that the transactions involved notional shares converted to cash, rather than the issuance of new physical shares.
- Note that the share price used for calculation was £16.49 on the vesting date of September 23, 2016.
- Understand that this filing does not reflect the company's broader financial health or quarterly results.