TIDMGSK
RNS Number : 5180D
GlaxoSmithKline PLC
19 February 2020
GlaxoSmithKline plc (the ' Company ')
Vesting of Performance Share Plan Awards
This notification sets out the vesting details of awards over
Ordinary Shares and American Depositary Shares ('ADSs') made to
Persons Discharging Managerial Responsibilities ('PDMRs') and their
Persons Closely Associated ('PCAs') in 2017 under the
GlaxoSmithKline 2017 Performance Share Plan ('PSP'), which were
subject to relevant business performance conditions. Awards were
made in 2017 following the approval of the 2017 Remuneration Policy
and the 2017 PSP rules by shareholders at the Annual General
Meeting in May 2017. The three-year performance period for the 2017
awards commenced on 1 January 2017 and ended on 31 December
2019.
The Remuneration Committee determined that the normal three-year
vesting period for the award made to the Chief Executive Officer
should end in July 2020 on the third anniversary of the award, and
thereafter the additional two-year vesting period applicable to
Executive Directors would apply to her award. For all other
Corporate Executive Team members and PSP participants who received
the 2017 awards, the awards vested on 17 February 2020 (for awards
over Ordinary Shares) and 18 February 2020 (for awards over ADSs),
following the determination of performance and to meet tax
compliance requirements in some markets.
The performance measure vesting details for those PDMRs who
received awards in 2017 are set out in the following table.
Outcome and Vesting
Level
Portion Measure and Outcome % of maximum % of award
of the
Award
------------------------------------------- ------------- -----------
Adjusted Free Cash Flow - For the
three-year period, the Company achieved
Adjusted Free Cash Flow calculated
in accordance with the principles
for the measure of GBP13bn, which
is above the level of GBP12.95bn
required for maximum vesting.
Adjustments to the original target
and vesting schedule were communicated
1/3rd in the 2018 Annual Report. 100 33.333
------------------------------------------- ------------- -----------
Total Shareholder Return - For the
three years ending 31 December 2019,
the Company's Total Shareholder Return
ranked 8th, which is below the threshold
vesting level against a comparator
group of 10 global pharmaceutical
1/3rd companies including GSK. 0 0
------------------------------------------- ------------- -----------
R&D New Products - For the three-year
period, the Company achieved New
Product sales calculated in accordance
with the principles for the measure
of GBP7.254bn, which is above the
level of GBP5.099bn required for
maximum vesting. The threshold vesting
1/3rd level was GBP4.172bn. 100 33.333
------------------------------------------- ------------- -----------
Total vesting for 2017 award 66.666%
Lapsed 33.334%
-------------------------------------------------------------------- -----------
The notifications that follow are for awards made to PDMRs and
detail the PSP conditional awards that vested, including dividends
accrued, on 17 and 18 February 2020. The balance of the award made
to each PDMR has lapsed.
The closing prices of Ordinary Shares and of ADSs of
GlaxoSmithKline plc on their respective vesting dates were
GBP16.616 and $43.55.
Transaction notification
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Mr R Connor
==== ======================================== =================================================
b) Position/status President, Global Vaccines
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 93,106
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Ms D Conrad
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 9,168
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ============================================================================================
a) Name Mr J Ford
==== ======================================== ==================================================
b) Position/status SVP & General Counsel
==== ======================================== ==================================================
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 American Depositary Shares ('ADSs')
the financial
instrument ISIN: US37733W1053
==== ======================================== ==================================================
b) Nature of the The number of ADSs vesting on awards granted
transaction in 2017 under the Company's 2017 Performance
Share Plan.
==== ======================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== ========================
$0.00 5,221
===================== ========================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
========================================= ======================================================
e) Date of the transaction 2020-02-18
==== ======================================== ==================================================
f) Place of the N/A
transaction
==== ======================================== ==================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Mr N Hirons
==== ======================================== =================================================
b) Position/status SVP, Global Ethics and Compliance
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 34,302
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Ms S Jackson
==== ======================================== =================================================
b) Position/status SVP, Global Communications & CEO Office
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 9,168
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===============================================================================================
a) Name Mr D Jackson
==== ======================================== =====================================================
b) Position/status PCA of Ms S Jackson (SVP, Global Communications
& CEO Office)
==== ======================================== =====================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =====================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ======================= =========================
GBP0.00 2,363
===================================================================== =========================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================== ================================
e) Date of the transaction 2020-02-17
==== ======================================== =====================================================
f) Place of the N/A
transaction
==== ======================================== =====================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ============================================================================================
a) Name Mr B McNamara
==== ======================================== ==================================================
b) Position/status CEO, GSK Consumer Healthcare
==== ======================================== ==================================================
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 American Depositary Shares ('ADSs')
the financial
instrument ISIN: US37733W1053
==== ======================================== ==================================================
b) Nature of the The number of ADSs vesting on awards granted
transaction in 2017 under the Company's 2017 Performance
Share Plan.
==== ======================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== ========================
$0.00 64,736
===================== ========================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
========================================= ======================================================
e) Date of the transaction 2020-02-18
==== ======================================== ==================================================
f) Place of the N/A
transaction
==== ======================================== ==================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Mr L Miels
==== ======================================== =================================================
b) Position/status President, Global Pharmaceuticals
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 270,447
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Mr D Redfern
==== ======================================== =================================================
b) Position/status Chief Strategy Officer
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 66,645
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Mr R Simard
==== ======================================== =================================================
b) Position/status President, Pharmaceuticals Supply Chain
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 9,168
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Mr P Thomson
==== ======================================== =================================================
b) Position/status President, Global Affairs
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 46,063
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Ms D Waterhouse
==== ======================================== =================================================
b) Position/status CEO, ViiV Healthcare
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 12,572
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Ms V Whyte
==== ======================================== =================================================
b) Position/status Company Secretary
==== ======================================== =================================================
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 vesting on
transaction awards granted in 2017 under the Company's
2017 Performance Share Plan.
==== ======================================== =================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ======================================== ===================== =======================
GBP0.00 9,168
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-02-17
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHQKLFFBLLXBBF
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February 19, 2020 11:35 ET (16:35 GMT)
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