GlaxoSmithKline PLC Director/PDMR Shareholding (2808Q)
15 Febrero 2019 - 12:19PM
UK Regulatory
TIDMGSK
RNS Number : 2808Q
GlaxoSmithKline PLC
15 February 2019
GlaxoSmithKline plc (the 'Company')
Vesting of Conditional Share Awards
This notification sets out the vesting details of Deferred Bonus
Awards over Ordinary Shares and American Depositary Shares ('ADS')
made in 2016 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 2016 Matching Awards commenced on 1
January 2016 and ended on 31 December 2018 and the restricted
period has come to an end.
The Remuneration Committee decided to increase the Adjusted Free
Cash Flow ('AFCF') target and associated vesting scale for the 2016
DABP Matching Awards 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 are as follows:
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 2017,
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 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 14 February 2019. 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 14 February 2019
were GBP15.66 and $40.86 respectively.
2017 DABP matching awards
The Remuneration Committee reviewed the 2017 DABP matching
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 released
transaction on awards granted in 2016 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 32,596 (Deferred)
------------------
GBP0.00 19,234 (Matching)
------------------
=== ======================== ===============================================
d) Aggregated information
Aggregated volume
Price 51,830
GBP0.00
=== ======================== ===============================================
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 released
transaction on awards granted in 2016 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 11,073 (Deferred)
------------------
GBP0.00 6,534 (Matching)
------------------
=== ======================== ==============================================
d) Aggregated information
Aggregated volume 17,607
Price GBP0.00
=== ======================== ==============================================
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 released
transaction on awards granted in 2016 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 43,044 (Deferred)
------------------
GBP0.00 25,398 (Matching)
------------------
=== ======================== ==============================================
d) Aggregated information
Aggregated volume 68,442
Price GBP0.00
=== ======================== ==============================================
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 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 released
transaction on awards granted in 2016 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 15,914 (Deferred)
------------------
GBP0.00 9,392 (Matching)
------------------
=== ======================== ==============================================
d) Aggregated information
Aggregated volume 25,306
Price GBP0.00
=== ======================== ==============================================
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 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 released
transaction on awards granted in 2016 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 20,254 (Deferred)
------------------
GBP0.00 11,952 (Matching)
------------------
=== ======================== ==============================================
d) Aggregated information
Aggregated volume 32,206
Price GBP0.00
=== ======================== ==============================================
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 released
transaction on awards granted in 2016 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 9,064 (Deferred)
-----------------
GBP0.00 5,349 (Matching)
-----------------
=== ======================== ==============================================
d) Aggregated information
Aggregated volume 14,413
Price GBP0.00
=== ======================== ==============================================
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 released
transaction on awards granted in 2016 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 29,636 Deferred)
------------------
GBP0.00 17,488 (Matching)
------------------
=== ======================== ==============================================
d) Aggregated information
Aggregated volume 47,124
Price GBP0.00
=== ======================== ==============================================
e) Date of the transaction 2019-02-14
=== ======================== ==============================================
f) Place of the London Stock Exchange (XLON)
transaction
=== ======================== ==============================================
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END
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