Report of Foreign Issuer (6-k)
March 21 2017 - 09:34AM
Edgar (US Regulatory)
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For
period ending
21 March
2017
GlaxoSmithKline plc
(Name
of registrant)
980 Great West Road, Brentford, Middlesex, TW8 9GS
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or
will
file annual reports under cover Form 20-F or Form 40-F
Form
20-F x Form 40-F
--
Indicate
by check mark whether the registrant by furnishing the
information
contained in this Form is also thereby furnishing the
information
to the Commission pursuant to Rule 12g3-2(b) under the
Securities
Exchange Act of 1934.
Yes
No x
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
of the Award
|
Measure
|
Outcome
|
Overall
outcome
|
1/3
rd
|
Adjusted free cash flow
- The Company did not meet the
threshold level of performance for adjusted free cash flow for the
three year period.
|
Lapsed
in full
|
0%
|
1/3
rd
|
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
GSK.
|
Lapsed
in full
|
0%
|
1/3
rd
|
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 £6.717bn,
which was above the maximum vesting level of £4.428bn (the
threshold level was £3.623bn) after appropriate adjustments
for the implications of the three-part transaction with
Novartis.
|
Vested
in full
|
33.33%
|
|
Total vesting for 2014 award
Lapsed
|
33.33%
66.67%
|
The
closing price of an Ordinary Share at the point of vesting on 20
March 2017 was £16.89.
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/
amendment
|
Initial notification
|
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
the financial instrument
|
Ordinary shares of 25 pence each ('Ordinary Shares')
ISIN: GB0009252882
|
b)
|
Nature
of the transaction
|
The number of Ordinary Shares released 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 volume(s)
|
Price(s)
|
Volume(s)
|
£0.00
|
2,965 (Co-investment shares)
|
£0.00
|
989 (Matching - nil-cost option)
|
d)
|
Aggregated
information
Aggregated
volume
Price
|
3,954
£0.00
|
e)
|
Date
of the transaction
|
2017-03-20
|
f)
|
Place
of the transaction
|
London Stock Exchange (XLON)
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorised.
|
GlaxoSmithKline plc
|
|
(Registrant)
|
|
|
Date: March
21, 2017
|
|
|
|
|
By: VICTORIA
WHYTE
|
|
|
|
Victoria Whyte
|
|
Authorised
Signatory for and on
|
|
behalf
of GlaxoSmithKline plc
|
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