GlaxoSmithKline PLC Director/PDMR Shareholding (2806Q)
15 Febrero 2019 - 12:16PM
UK Regulatory
TIDMGSK
RNS Number : 2806Q
GlaxoSmithKline PLC
15 February 2019
GlaxoSmithKline plc (the 'Company')
Vesting of Conditional Share Awards
This notification sets out the vesting details of awards over
Ordinary Shares and American Depositary Shares ('ADS') made in 2016
under the GlaxoSmithKline 2009 Performance Share Plan ('PSP'),
which were subject to relevant business performance conditions. The
three-year performance period for the 2016 awards commenced on 1
January 2016 and ended on 31 December 2018.
The Remuneration Committee decided to increase the Adjusted Free
Cash Flow ('AFCF') target and associated vesting scale for the 2016
PSP award to reduce the level of outperformance attributable to the
original timing assumption for the Loss of Advair Exclusivity. The
outcome in the table below under AFCF reflects the increased
target.
The performance measure vesting details for those Persons
Discharging Managerial Responsibilities ('PDMRs') who received
awards in 2016 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 GBP13.18bn, which
is above the threshold level of GBP11.57bn
(see above). An increase of GBP0.22bn
1/3(rd) has been applied to the threshold. 77 25.67
----------------------------------------------- ------------- -----------
Total Shareholder Return - For the
three years ending 31 December 2018,
the Company's Total Shareholder Return
ranked 6(th) , which is below the
threshold vesting level against a
comparator group of 10 global pharmaceutical
1/3(rd) 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 GBP10.435bn, which is above the
maximum vesting level of GBP8.532bn.
1/3(rd) The threshold level was GBP6.980bn. 100 33.33
----------------------------------------------- ------------- -----------
Total vesting for 2016 award 59%
Lapsed 41%
------------------------------------------------------------------------ -----------
The notifications that follow are for awards made to PDMRs and
detail the PSP conditional awards that vested, including dividends
accrued, on 14 February 2019. The balance of the award made to each
PDMR has lapsed.
The closing share prices of an Ordinary Share and of an ADS of
GlaxoSmithKline plc at the point of vesting on 14 February 2019
were GBP15.66 and $40.86.
2017 and 2018 PSP awards
The Remuneration Committee reviewed the 2017 and 2018 PSP awards
and agreed to adjust the AFCF target for the awards. Details of the
targets and performance against them will as usual be provided in
the Company's Remuneration Report.
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 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 2016 under the Company's
2009 Performance Share Plan.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
GBP0.00 140,762
----------
=== ======================== ============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ============================================
e) Date of the transaction 2019-02-14
=== ======================== ============================================
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 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 2016 under the Company's
2009 Performance Share Plan.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
GBP0.00 82,197
----------
=== ======================== ============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ============================================
e) Date of the transaction 2019-02-14
=== ======================== ============================================
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 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 2016 under the Company's
2009 Performance Share Plan. These shares
are subject to a two-year holding period
to end in 2021.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
GBP0.00 151,161
----------
=== ======================== ============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ============================================
e) Date of the transaction 2019-02-14
=== ======================== ============================================
f) Place of the London Stock Exchange (XLON)
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 GlaxoSmithKline plc American Depositary
the financial Shares ('ADSs')
instrument ISIN: US37733W1053
=== ======================== ==============================================
b) Nature of the The number of ADSs vesting on awards granted
transaction in 2016 under the Company's 2009 Performance
Share Plan.
=== ======================== ==============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
$0.00 4,691
----------
=== ======================== ==============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ==============================================
e) Date of the transaction 2019-02-14
=== ======================== ==============================================
f) Place of the New York Stock Exchange (XNYS)
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 2016 under the Company's
2009 Performance Share Plan.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
GBP0.00 33,907
----------
=== ======================== ============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ============================================
e) Date of the transaction 2019-02-14
=== ======================== ============================================
f) Place of the London Stock Exchange (XLON)
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 GlaxoSmithKline plc American Depositary
the financial Shares ('ADSs')
instrument ISIN: US37733W1053
=== ======================== =============================================
b) Nature of the The number of ADSs vesting on awards granted
transaction in 2016 under the Company's 2009 Performance
Share Plan.
=== ======================== =============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
$0.00 33,857
----------
=== ======================== =============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== =============================================
e) Date of the transaction 2019-02-14
=== ======================== =============================================
f) Place of the New York Stock Exchange (XNYS)
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 2016 under the Company's
2009 Performance Share Plan.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
GBP0.00 59,594
----------
=== ======================== ============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ============================================
e) Date of the transaction 2019-02-14
=== ======================== ============================================
f) Place of the London Stock Exchange (XLON)
transaction
=== ======================== ============================================
1. Details of PDMR/person closely associated with them
('PCA')
======================================================================
a) Name Mr R Simard
=== ======================== ============================================
b) Position/status President, Pharma 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 2016 under the Company's
2009 Performance Share Plan.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
GBP0.00 8,239
----------
=== ======================== ============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ============================================
e) Date of the transaction 2019-02-14
=== ======================== ============================================
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 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 2016 under the Company's
2009 Performance Share Plan.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
GBP0.00 75,005
----------
=== ======================== ============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ============================================
e) Date of the transaction 2019-02-14
=== ======================== ============================================
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 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 2016 under the Company's
2009 Performance Share Plan.
=== ======================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s) ----------
GBP0.00 43,154
----------
=== ======================== ============================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ============================================
e) Date of the transaction 2019-02-14
=== ======================== ============================================
f) Place of the London Stock Exchange (XLON)
transaction
=== ======================== ============================================
1. Details of PDMR/person closely associated with them
('PCA')
=====================================================================
a) Name Mrs 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 2016 under the Company's
2009 Performance Share Plan.
=== ======================== ===========================================
c) Price(s) and Price(s) Volume(s)
volume(s) GBP0.00 8,239
----------
=== ======================== ===========================================
d) Aggregated information n/a (single transaction)
Aggregated volume
Price
=== ======================== ===========================================
e) Date of the transaction 2019-02-14
=== ======================== ===========================================
f) Place of the London Stock Exchange (XLON)
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
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of this information may apply. For further information, please
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END
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