GlaxoSmithKline PLC Director/PDMR Shareholding (0892A)
March 21 2017 - 8:19AM
UK Regulatory
TIDMGSK
RNS Number : 0892A
GlaxoSmithKline PLC
21 March 2017
GlaxoSmithKline plc (the 'Company')
Conditional Share Awards
As previously announced on 17 February 2017, Awards made to
certain Executive Directors and Persons Discharging Managerial
Responsibilities ('PDMR') made under the GlaxoSmithKline 2009
Deferred Annual Bonus Plan ('DABP') on a pre-tax basis and the
associated Matching Awards, which were subject to relevant business
performance conditions with the three-year performance period
beginning 1 January 2014 and ended 31 December 2016, had vested on
16 February 2017.
This notification that follows relates to an award made to a
PDMR on a post-tax basis and shows the vesting of the Co-investment
shares purchased on 20 March 2014 including dividends accrued and
the proportion of the Matching Award i.e., conditional award that
vested including dividends accrued on the award which vested in the
same proportion subject to performance, as the underlying shares on
20 March 2017, the third anniversary of the award in accordance
with the Plan rules. The balance of the Matching Award made to this
PDMR has lapsed.
The performance measure vesting details are as follows:
Portion Measure Outcome Overall
of the outcome
Award
--------- -------------------------------------------- ---------- ---------
Adjusted free cash flow - The Company
did not meet the threshold level of
performance for adjusted free cash Lapsed
1/3(rd) flow for the three year period. in full 0%
--------- -------------------------------------------- ---------- ---------
TSR measure - For the three years
ending 31 December 2016, the Company's
TSR ranked 9(th) (i.e. below median)
against a comparator group of 10 global
pharmaceutical companies including Lapsed
1/3(rd) GSK. in full 0%
--------- -------------------------------------------- ---------- ---------
R&D New Products sales measure - For
the three year period, the Company
achieved New Product sales calculated
in accordance with the principles
for the measure of GBP6.717bn, which
was above the maximum vesting level
of GBP4.428bn (the threshold level
was GBP3.623bn) after appropriate
adjustments for the implications of Vested
1/3(rd) the three-part transaction with Novartis. in full 33.33%
--------- -------------------------------------------- ---------- ---------
Total vesting for 2014 award 33.33%
Lapsed 66.67%
-------------------------------------------------------- ---------
The closing price of an Ordinary Share at the point of vesting
on 20 March 2017 was GBP16.89.
Transaction notification
1. Details of PDMR/person closely associated with them
('PCA')
=== ========================================================================
a) Name Ms C Thomas
=== ======================== ==============================================
b) Position/status SVP, Human Resources
=== ======================== ==============================================
c) Initial notification/ Initial notification
amendment
=== ======================== ==============================================
2. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
=== ========================================================================
a) Name GlaxoSmithKline plc
=== ======================== ==============================================
b) LEI 5493000HZTVUYLO1D793
=== ======================== ==============================================
3. Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transaction(s)
has been conducted
=== ========================================================================
a) Description of Ordinary shares of 25 pence each ('Ordinary
the financial Shares')
instrument ISIN: GB0009252882
=== ======================== ==============================================
b) Nature of the The number of Ordinary Shares released
transaction on awards granted in 2014 under the Company's
2009 Deferred Annual Bonus Plan on a post-tax
basis - Co-investment shares and Matching
Award.
=== ======================== ==============================================
c) Price(s) and Price(s) Volume(s)
volume(s) --------- -----------------------------
GBP0.00 2,965 (Co-investment shares)
--------- -----------------------------
GBP0.00 989 (Matching - nil-cost
option)
--------- -----------------------------
=== ======================== ==============================================
d) Aggregated information
Aggregated volume
Price 3,954
GBP0.00
=== ======================== ==============================================
e) Date of the transaction 2017-03-20
=== ======================== ==============================================
f) Place of the London Stock Exchange (XLON)
transaction
=== ======================== ==============================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
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