Business Context and Reporting Period
This Form 6-K filing by GlaxoSmithKline plc covers the period ending March 2013. 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 consolidated financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on equity transactions related to executive compensation.
Key transaction details include:
- Transaction Date: March 1, 2013
- Ordinary Share Sale Price: £14.55 per share
- ADS Withholding Price: $44.03 per ADS
- Purpose: Sale of shares and withholding of ADS to meet tax liabilities following the vesting of PSP awards.
Material Changes
The filing details specific changes in shareholdings for the following individuals due to tax-related sales or withholdings:
- Ordinary Shares Sold:
- Sir Andrew Witty (Executive Director): 63,152 shares
- Ms C Thomas: 12,139 shares
- Mr D Redfern: 7,908 shares
- Mr S Bicknell: 6,973 shares
- Mr M Dunoyer: 3,501 shares
- Mr A Hussain: 2,789 shares
- ADS Withheld:
- Dr M Slaoui (Executive Director): 17,232 ADS
- Mr D Troy: 6,360 ADS
- Ms D Connelly: 5,439 ADS
- Mr W Louv: 3,470 ADS
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. It is a regulatory disclosure required under Disclosure and Transparency Rule 3.1.4R(1)(a) regarding insider transactions.
Investor Verification Checklist
- Verify the total number of shares sold or withheld by Executive Directors versus other PDMRs.
- Confirm the fair market value prices (£14.55 and $44.03) against market data for March 1, 2013.
- Review the vesting schedule of the 2009 Performance Share Plan to understand the timing of these awards.
- Check subsequent filings for any additional insider trading activity related to the same plan.