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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gsk Plc | LSE:GSK | London | Ordinary Share | GB00BN7SWP63 | ORD 31 1/4P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 12.50 | 0.76% | 1,653.00 | 1,654.00 | 1,655.00 | 1,655.50 | 1,634.00 | 1,638.50 | 3,990,601 | 16:35:15 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Pharmaceutical Preparations | 30.33B | 4.93B | 1.1970 | 13.83 | 68.14B |
From Apr 2019 to Apr 2024
TIDMGSK
RNS Number : 0665F
GlaxoSmithKline PLC
15 February 2018
GlaxoSmithKline plc (the 'Company')
2018 Performance Share Plan Award and 2018 Performance Measures
2018 Performance Share Plan Award
On 14 February 2018, the Company granted conditional share awards to Executive Directors and Persons Discharging Managerial Responsibilities ('PDMRs') under the GlaxoSmithKline 2017 Performance Share Plan ('the Plan'). The Plan was approved by shareholders on 4 May 2017, and allows a performance-related opportunity in the form of conditional awards to be granted to senior executives in the Group, including the Executive Directors and PDMRs.
Under the terms of the Plan, conditional awards are granted over a specific number of Ordinary Shares or American Depositary Shares ('ADS'), and the percentage of awards that ultimately vests is dependent on the level of achievement against performance targets set by the Remuneration Committee.
2018 Performance Measures
The performance condition information that follows applies to the 2018 Performance Share Plan Awards.
The performance period for the awards is the three financial years from 1 January 2018 to 31 December 2020. The awards are based on three equally weighted performance measures:
Hot Features
Premium
Performance Measure Proportion
of each award
--------------------------------- ---------------
Total Shareholder Return (TSR) 1/3rd
--------------------------------- ---------------
Adjusted Free Cash Flow (AFCF) 1/3rd
--------------------------------- ---------------
Research & Development (R&D) New 1/3rd
Product performance
--------------------------------- ---------------
TSR measure
This measure compares the TSR of the Company's Ordinary Shares over the performance period with the TSR of the shares of nine (9) other global pharmaceutical companies (i.e. a comparator group of ten (10) companies including the Company).
The vesting schedule is based on delivering 30% vesting for achieving median performance. However, in a group of 10 companies, the median (position 5.5) falls between two companies. Therefore, 0% will vest if the Company's TSR is ranked 6(th) and 44% will vest if its TSR is ranked 5(th) , i.e. above median, in the comparator group. The maximum amount will vest for this element, if the Company's TSR is ranked in positions 1, 2 or 3.
The companies in the TSR comparator group are: AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Johnson & Johnson, Merck & Co, Novartis, Pfizer, Roche Holdings, Sanofi and GlaxoSmithKline.
Adjusted Free Cash Flow measure
The use of cash flow as a performance measure is intended to recognise the importance of effective working capital management and of generating cash to fund the Group's operations, investments, and Ordinary dividends to shareholders.
Free cash flow represents the operating profit of the business adjusted for non-cash items after deducting the cost or benefit of working capital, capital expenditure, contingent consideration payments, net interest, dividends paid to non-controlling interests and taxation.
The adjustments to free cash flow, used to set the AFCF target for the purpose of the performance measure, include foreign exchange, legal, special pension contributions, and the impact of divestments and acquisitions. The measure post-adjustment is the "adjusted free cash flow" target.
This element of the award will vest as follows:
Performance Level Adjusted Free Proportion Vesting
Cash Flow target
------------------- ------------------- -------------------
Below threshold < GBP 11.72bn 0%
------------------- ------------------- -------------------
Threshold GBP 11.72bn 25%
------------------- ------------------- -------------------
GBP 12.08bn 50%
--------------------------------------- -------------------
GBP 13.29bn 75%
--------------------------------------- -------------------
Maximum GBP 13.89bn 100%
------------------- ------------------- -------------------
The proportions vesting between the above vesting levels will be calculated on a straight-line basis.
R&D New Product measure
Due to commercial sensitivity, the Remuneration Committee remains of the view that the R&D new product target cannot be published at the time of grant. However, the target and vesting outcome will be disclosed in full at the end of the performance period.
25% of this element will vest if the performance threshold level is attained, rising to 100% for stretching performance exceeding 122% of the set threshold. Below the set threshold, none of this element will vest.
Notes
1. To the extent that each element of a conditional award does not vest at the end of the three-year performance period, it will lapse.
2. The Executive Directors or PDMRs in the transaction notifications below were each granted a conditional award under the terms of the GlaxoSmithKline 2017 Performance Share Plan. Awards granted are of Ordinary Shares or ADS.
3. Dividends will accrue on the conditional award of Ordinary Shares or ADS during the performance period, but will only vest to the extent that the awards themselves vest at the end of the performance period. These dividends are not included in the figures below.
4. For Executive Directors, the award is subject to an additional vesting period of two years from the normal vesting date, i.e. five years in total. During the additional vesting period, the relevant Ordinary Shares or ADS would only be forfeited in the event that the Executive Director was terminated for cause.
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
of the financial each ('Ordinary Shares')
instrument
ISIN: GB0009252882
==== ============================ ======================================
b) Nature of the A conditional award of Ordinary
transaction Shares under the Company's 2017
Performance Share Plan.
==== ============================ ======================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================= ================
GBP12.91 437,997
=================================================== ================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
================================================ =======================
e) Date of the 2018-02-14
transaction
==== ============================ ======================================
f) Place of the n/a
transaction
==== ============================ ======================================
1. Details of PDMR/person closely associated
with them ('PCA')
==== ========================================================================
a) Name Dr H Barron
==== ============================ ==========================================
b) Position/status Chief Scientific Officer and
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 American Depositary Shares ('ADSs')
of the financial
instrument ISIN: US37733W1053
==== ============================ ==========================================
b) Nature of the A conditional award over ADSs
transaction under the Company's 2017 Performance
Share Plan.
==== ============================ ==========================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================== ===================
$36.46 233,132
================== ===================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
============================= ==============================================
e) Date of the 2018-02-14
transaction
==== ============================ ==========================================
f) Place of the n/a
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
of the financial each ('Ordinary Shares')
instrument
ISIN: GB0009252882
==== ============================ ======================================
b) Nature of the A conditional award of Ordinary
transaction Shares under the Company's 2017
Performance Share Plan.
==== ============================ ======================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================= ================
GBP12.91 173,663
=================================================== ================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
================================================ =======================
e) Date of the 2018-02-14
transaction
==== ============================ ======================================
f) Place of the n/a
transaction
==== ============================ ======================================
1. Details of PDMR/person closely associated
with them ('PCA')
==== ====================================================================
a) Name Mr L Debruyne
==== ============================ ======================================
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 Ordinary shares of 25 pence
of the financial each ('Ordinary Shares')
instrument
ISIN: GB0009252882
==== ============================ ======================================
b) Nature of the A conditional award of Ordinary
transaction Shares under the Company's 2017
Performance Share Plan.
==== ============================ ======================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================= ================
GBP12.91 131,870
=================================================== ================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
================================================ =======================
e) Date of the 2018-02-14
transaction
==== ============================ ======================================
f) Place of the n/a
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
of the financial each ('Ordinary Shares')
instrument
ISIN: GB0009252882
==== ============================ ======================================
b) Nature of the A conditional award of Ordinary
transaction Shares under the Company's 2017
Performance Share Plan.
==== ============================ ======================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================= ================
GBP12.91 239,442
=================================================== ================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
================================================ =======================
e) Date of the 2018-02-14
transaction
==== ============================ ======================================
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 Ordinary shares of 25 pence
of the financial each ('Ordinary Shares')
instrument
ISIN: GB0009252882
==== ============================ =======================================
b) Nature of the A conditional award of Ordinary
transaction Shares under the Company's 2017
Performance Share Plan.
==== ============================ =======================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================= =================
GBP12.91 64,407
=================================================== =================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
================================================ ========================
e) Date of the 2018-02-14
transaction
==== ============================ =======================================
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 American Depositary Shares ('ADSs')
of the financial
instrument ISIN: US37733W1053
==== ============================ ==========================================
b) Nature of the A conditional award over ADSs
transaction under the Company's 2017 Performance
Share Plan.
==== ============================ ==========================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================== ===================
$36.46 108,502
================== ===================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
============================= ==============================================
e) Date of the 2018-02-14
transaction
==== ============================ ==========================================
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 Ordinary shares of 25 pence
of the financial each ('Ordinary Shares')
instrument
ISIN: GB0009252882
==== ============================ =======================================
b) Nature of the A conditional award of Ordinary
transaction Shares under the Company's 2017
Performance Share Plan.
==== ============================ =======================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================= =================
GBP12.91 225,561
=================================================== =================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
================================================ ========================
e) Date of the 2018-02-14
transaction
==== ============================ =======================================
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 Ordinary shares of 25 pence
of the financial each ('Ordinary Shares')
instrument
ISIN: GB0009252882
==== ============================ ======================================
b) Nature of the A conditional award of Ordinary
transaction Shares under the Company's 2017
Performance Share Plan.
==== ============================ ======================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================= ================
GBP12.91 119,054
=================================================== ================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
================================================ =======================
e) Date of the 2018-02-14
transaction
==== ============================ ======================================
f) Place of the n/a
transaction
==== ============================ ======================================
1. Details of PDMR/person closely associated
with them ('PCA')
==== ========================================================================
a) Name Ms K Terrell
==== ============================ ==========================================
b) Position/status Chief Digital & Technology 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 American Depositary Shares ('ADSs')
of the financial
instrument ISIN: US37733W1053
==== ============================ ==========================================
b) Nature of the A conditional award over ADSs
transaction under the Company's 2017 Performance
Share Plan.
==== ============================ ==========================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================== ===================
$36.46 89,961
================== ===================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
============================= ==============================================
e) Date of the 2018-02-14
transaction
==== ============================ ==========================================
f) Place of the n/a
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
of the financial each ('Ordinary Shares')
instrument
ISIN: GB0009252882
==== ============================ ======================================
b) Nature of the A conditional award of Ordinary
transaction Shares under the Company's 2017
Performance Share Plan.
==== ============================ ======================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================= ================
GBP12.91 134,972
=================================================== ================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
================================================ =======================
e) Date of the 2018-02-14
transaction
==== ============================ ======================================
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 Ordinary shares of 25 pence
of the financial each ('Ordinary Shares')
instrument
ISIN: GB0009252882
==== ============================ ======================================
b) Nature of the A conditional award of Ordinary
transaction Shares under the Company's 2017
Performance Share Plan.
==== ============================ ======================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ============================ ================= ================
GBP12.91 84,890
=================================================== ================
d) Aggregated n/a (single transaction)
information
====
Aggregated
volume Price
================================================ =======================
e) Date of the 2018-02-14
transaction
==== ============================ ======================================
f) Place of the n/a
transaction
==== ============================ ======================================
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHDELFFVLFEBBL
(END) Dow Jones Newswires
February 15, 2018 12:53 ET (17:53 GMT)
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