TIDMGSK

RNS Number : 1946F

GlaxoSmithKline PLC

16 February 2018

GlaxoSmithKline plc (the 'Company')

Conditional Share Awards

This notification sets out the vesting details of Deferred Bonus Awards over Ordinary Shares and American Depositary Shares ('ADS') made in 2015 under the GlaxoSmithKline 2009 Deferred Annual Bonus Plan ('DABP') and the associated Matching Awards, which were subject to relevant business performance conditions. The three-year performance period for the 2015 Matching Awards commenced on 1 January 2015 and ended on 31 December 2017 and the restricted period has come to an end.

The performance measure vesting details are as follows:

 
                                                     Outcome and 
                                                    Vesting Level 
-----------------------------------------------  ------------------ 
 Portion            Measure and Outcome             % of      % of 
  of the                                           maximum    award 
   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 GBP12.47bn 
             which is above the threshold 
 1/3(rd)     level of GBP11.48bn.                    63        21 
---------  ------------------------------------  ---------  ------- 
            Total Shareholder Return 
             - For the three years ending 
             31 December 2017, the Company's 
             Total Shareholder Return 
             ranked 5(th) , which is above 
             the threshold vesting level 
             against a comparator group 
             of 10 global pharmaceutical 
 1/3(rd)     companies including GSK.                44      14.67 
---------  ------------------------------------  ---------  ------- 
            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 GBP11.266bn, which 
             is above the maximum vesting 
             level of GBP7.912bn (the 
 1/3(rd)     threshold level was GBP6.474bn).       100      33.33 
---------  ------------------------------------  ---------  ------- 
                              Total vesting for 2015 award      69% 
                                                    Lapsed      31% 
 ---------------------------------------------------------  ------- 
 

The notifications that follow are for awards made to Persons Discharging Managerial Responsibilities ('PDMRs'). They show the vesting of the Deferred Bonus Awards including dividends accrued, and the proportion vesting of the associated Matching Awards i.e., conditional awards that vested according to performance, including dividends accrued on those vesting shares, on 15 February 2018. The balance of these awards made to each PDMR has lapsed.

The closing prices of an Ordinary Share and of an ADS of GlaxoSmithKline plc at the point of vesting on 15 February 2018 were GBP13.004 and $37.31 respectively.

Transaction notification

 
 1.   Details of PDMR/person closely associated 
       with them ('PCA') 
===  ============================================================ 
 a)   Name                   Ms E Walmsley 
===  ======================  ==================================== 
 b)   Position/status        Chief Executive 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            Ordinary shares of 25 pence each 
       of the financial       ('Ordinary Shares') 
       instrument             ISIN: GB0009252882 
===  ======================  ==================================== 
 b)   Nature of              The number of Ordinary Shares 
       the transaction        released on awards granted in 
                              2015 under the Company's 2009 
                              Deferred Annual Bonus Plan-Deferred 
                              Bonus and Matching Awards. 
===  ======================  ==================================== 
 c)   Price(s) and             Price(s)   Volume(s) 
       volume(s)               ---------  ------------------ 
                                GBP0.00    12,482 (Deferred) 
                               ---------  ------------------ 
                                GBP0.00    8,614 (Matching) 
                               ---------  ------------------ 
===  ======================  ==================================== 
 d)   Aggregated 
       information             21,096 
       Aggregated              GBP0.00 
       volume 
       Price 
===  ======================  ==================================== 
 e)   Date of the            2018-02-15 
       transaction 
===  ======================  ==================================== 
 f)   Place of the           London Stock Exchange (XLON) 
       transaction 
===  ======================  ==================================== 
 
 
 1.   Details of PDMR/person closely associated 
       with them ('PCA') 
===  ============================================================ 
 a)   Name                   Mr R Connor 
===  ======================  ==================================== 
 b)   Position/status        President, Global Manufacturing 
                              & Supply 
===  ======================  ==================================== 
 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             Ordinary shares of 25 pence each 
       of the financial        ('Ordinary Shares') 
       instrument              ISIN: GB0009252882 
===  ======================  ==================================== 
 b)   Nature of              The number of Ordinary Shares 
       the transaction        released on awards granted in 
                              2015 under the Company's 2009 
                              Deferred Annual Bonus Plan-Deferred 
                              Bonus and Matching Awards. 
===  ======================  ==================================== 
 c)   Price(s) and             Price(s)   Volume(s) 
       volume(s)               ---------  ----------------- 
                                GBP0.00    9,142 (Deferred) 
                               ---------  ----------------- 
                                GBP0.00    6,308 (Matching) 
                               ---------  ----------------- 
===  ======================  ==================================== 
 d)   Aggregated 
       information             15,450 
       Aggregated              GBP0.00 
       volume 
       Price 
===  ======================  ==================================== 
 e)   Date of the            2018-02-15 
       transaction 
===  ======================  ==================================== 
 f)   Place of the           London Stock Exchange (XLON) 
       transaction 
===  ======================  ==================================== 
 
 
 1.   Details of PDMR/person closely associated 
       with them ('PCA') 
===  ============================================================ 
 a)   Name                   Mr S Dingemans 
===  ======================  ==================================== 
 b)   Position/status        Chief Financial 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            Ordinary shares of 25 pence each 
       of the financial       ('Ordinary Shares') 
       instrument             ISIN: GB0009252882 
===  ======================  ==================================== 
 b)   Nature of              The number of Ordinary Shares 
       the transaction        released on awards granted in 
                              2015 under the Company's 2009 
                              Deferred Annual Bonus Plan-Deferred 
                              Bonus and Matching Awards. 
===  ======================  ==================================== 
 c)   Price(s) and             Price(s)   Volume(s) 
       volume(s)               ---------  ------------------ 
                                GBP0.00    17,435 (Deferred) 
                               ---------  ------------------ 
                                GBP0.00    12,030 (Matching) 
                               ---------  ------------------ 
===  ======================  ==================================== 
 d)   Aggregated 
       information             29,465 
       Aggregated              GBP0.00 
       volume 
       Price 
===  ======================  ==================================== 
 e)   Date of the            2018-02-15 
       transaction 
===  ======================  ==================================== 
 f)   Place of the           London Stock Exchange (XLON) 
       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             Ordinary shares of 25 pence each 
       of the financial        ('Ordinary Shares') 
       instrument              ISIN: GB0009252882 
===  ======================  ==================================== 
 b)   Nature of              The number of Ordinary Shares 
       the transaction        released on awards granted in 
                              2015 under the Company's 2009 
                              Deferred Annual Bonus Plan-Deferred 
                              Bonus and Matching Awards. 
===  ======================  ==================================== 
 c)   Price(s) and             Price(s)   Volume(s) 
       volume(s)               ---------  ------------------ 
                                GBP0.00    10,258 (Deferred) 
                               ---------  ------------------ 
                                GBP0.00    7,078 (Matching) 
                               ---------  ------------------ 
===  ======================  ==================================== 
 d)   Aggregated 
       information             17,336 
       Aggregated              GBP0.00 
       volume 
       Price 
===  ======================  ==================================== 
 e)   Date of the            2018-02-15 
       transaction 
===  ======================  ==================================== 
 f)   Place of the           London Stock Exchange (XLON) 
       transaction 
===  ======================  ==================================== 
 
 
 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            Ordinary shares of 25 pence each 
       of the financial       ('Ordinary Shares') 
       instrument             ISIN: GB0009252882 
===  ======================  ==================================== 
 b)   Nature of              The number of Ordinary Shares 
       the transaction        released on awards granted in 
                              2015 under the Company's 2009 
                              Deferred Annual Bonus Plan-Deferred 
                              Bonus and Matching Awards. 
===  ======================  ==================================== 
 c)   Price(s) and             Price(s)   Volume(s) 
       volume(s)               ---------  ------------------ 
                                GBP0.00    13,805 (Deferred) 
                               ---------  ------------------ 
                                GBP0.00    9,525 (Matching) 
                               ---------  ------------------ 
===  ======================  ==================================== 
 d)   Aggregated 
       information             23,330 
       Aggregated              GBP0.00 
       volume 
       Price 
===  ======================  ==================================== 
 e)   Date of the            2018-02-15 
       transaction 
===  ======================  ==================================== 
 f)   Place of the           London Stock Exchange (XLON) 
       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             Ordinary shares of 25 pence each 
       of the financial        ('Ordinary Shares') 
       instrument              ISIN: GB0009252882 
===  ======================  ==================================== 
 b)   Nature of              The number of Ordinary Shares 
       the transaction        released on awards granted in 
                              2015 under the Company's 2009 
                              Deferred Annual Bonus Plan-Deferred 
                              Bonus and Matching Awards. 
===  ======================  ==================================== 
 c)   Price(s) and             Price(s)   Volume(s) 
       volume(s)               ---------  ----------------- 
                                GBP0.00    4,689 (Deferred) 
                               ---------  ----------------- 
                                GBP0.00    3,235 (Matching) 
                               ---------  ----------------- 
===  ======================  ==================================== 
 d)   Aggregated 
       information             7,924 
       Aggregated              GBP0.00 
       volume 
       Price 
===  ======================  ==================================== 
 e)   Date of the            2018-02-15 
       transaction 
===  ======================  ==================================== 
 f)   Place of the           London Stock Exchange (XLON) 
       transaction 
===  ======================  ==================================== 
 
 
 1.    Details of PDMR/person closely associated 
        with them ('PCA') 
====  ============================================================= 
 a)    Name                    Mr D Troy 
====  =======================  ==================================== 
 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              GlaxoSmithKline plc American 
        of the financial         Depositary Shares ('ADSs') 
        instrument               ISIN: US37733W1053 
====  =======================  ==================================== 
 b)    Nature of                The number of ADSs released on 
        the transaction          awards granted in 2015 under 
                                 the Company's 2009 Deferred Annual 
                                 Bonus Plan--Deferred Bonus and 
                                 Matching Awards. 
====  =======================  ==================================== 
 c)    Price(s) and              Price(s)   Volume(s) 
        volume(s)                ---------  ----------------- 
                                  $0.00      7,338 (Deferred) 
                                 ---------  ----------------- 
                                  $0.00      5,062 (Matching) 
                                 ---------  ----------------- 
====  =======================  ==================================== 
       Aggregated 
        information 
        Aggregated 
 d)     volume Price             12,400 $0.00 
====  =======================  ==================================== 
 e)    Date of the             2018-02-15 
        transaction 
====  =======================  ==================================== 
 f)    Place of the             New York Stock Exchange (XNYS) 
        transaction 
====  =======================  ==================================== 
 
 
 1.   Details of PDMR/person closely associated 
       with them ('PCA') 
===  ============================================================ 
 a)   Name                   Dr P Vallance 
===  ======================  ==================================== 
 b)   Position/status        Outgoing President, R&D 
===  ======================  ==================================== 
 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             Ordinary shares of 25 pence each 
       of the financial        ('Ordinary Shares') 
       instrument              ISIN: GB0009252882 
===  ======================  ==================================== 
 b)   Nature of              The number of Ordinary Shares 
       the transaction        released on awards granted in 
                              2015 under the Company's 2009 
                              Deferred Annual Bonus Plan-Deferred 
                              Bonus and Matching Awards. 
===  ======================  ==================================== 
 c)   Price(s) and             Price(s)   Volume(s) 
       volume(s)               ---------  ------------------ 
                                GBP0.00    20,322 (Deferred) 
                               ---------  ------------------ 
                                GBP0.00    14,022 (Matching) 
                               ---------  ------------------ 
===  ======================  ==================================== 
 d)   Aggregated 
       information             34,344 
       Aggregated              GBP0.00 
       volume 
       Price 
===  ======================  ==================================== 
 e)   Date of the            2018-02-15 
       transaction 
===  ======================  ==================================== 
 f)   Place of the           London Stock Exchange (XLON) 
       transaction 
===  ======================  ==================================== 
 
 
 1.   Details of PDMR/person closely associated 
       with them ('PCA') 
===  ============================================================ 
 a)   Name                   Mr Nick 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            Ordinary shares of 25 pence each 
       of the financial       ('Ordinary Shares') 
       instrument             ISIN: GB0009252882 
===  ======================  ==================================== 
 b)   Nature of              The number of Ordinary Shares 
       the transaction        released on awards granted in 
                              2014 under the Company's 2009 
                              Deferred Annual Bonus Plan-Deferred 
                              Bonus and Matching Awards. 
===  ======================  ==================================== 
 c)   Price(s) and             Price(s)   Volume(s) 
       volume(s)               ---------  ----------------- 
                                GBP0.00    6,402 (Deferred) 
                               ---------  ----------------- 
                                GBP0.00    4,418 (Matching) 
                               ---------  ----------------- 
===  ======================  ==================================== 
 d)   Aggregated 
       information             10,820 
       Aggregated              GBP0.00 
       volume 
       Price 
===  ======================  ==================================== 
 e)   Date of the            2018-02-15 
       transaction 
===  ======================  ==================================== 
 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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(END) Dow Jones Newswires

February 16, 2018 12:29 ET (17:29 GMT)

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