GlaxoSmithKline PLC Director/PDMR Shareholding (3723U)
28 Julio 2020 - 9:23AM
UK Regulatory
TIDMGSK
RNS Number : 3723U
GlaxoSmithKline PLC
28 July 2020
GlaxoSmithKline plc (the ' Company ')
PDMR Transaction
On 19 February 2020, GSK announced the vesting of awards over
Ordinary Shares on 17 February 2020 made to Persons Discharging
Managerial Responsibilities ('PDMRs') in 2017 under the
GlaxoSmithKline 2017 Performance Share Plan ('PSP'), with the
exception of the Chief Executive Officer ('CEO'). It was announced
at that time that the Remuneration Committee determined that the
normal three-year vesting period for the award made to the CEO
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 in accordance with the
terms of the 2017 Remuneration Policy. This notification sets out
the details of the CEO's 2017 PSP award which vested on 27 July
2020, the third anniversary of the award. These shares are now
subject to an additional two-year vesting period.
The same performance measure vesting details previously
announced for the 2017 PSP awards apply to the CEO's PSP award and
are set out below for ease of reference. The three-year performance
period for the 2017 awards commenced on 1 January 2017 and ended on
31 December 2019.
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 notification that follows shows the number of shares which
vested, including dividends accrued, on 27 July 2020. The balance
of the award has lapsed. The closing price of Ordinary Shares of
GlaxoSmithKline plc on 27 July 2020 was GBP15.834.
Transaction notification
1. Details of PDMR/person closely associated with them
('PCA')
==== ===========================================================================================
a) Name Ms E N 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 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)
==== ======================================== ===================== =======================
GBP0.00 277,623
=================================================================== =======================
d) Aggregated information N/A (single transaction)
====
Aggregated volume
Price
================================================================ ==============================
e) Date of the transaction 2020-07-27
==== ======================================== =================================================
f) Place of the N/A
transaction
==== ======================================== =================================================
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END
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