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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 4.50 | 0.28% | 1,640.50 | 1,640.00 | 1,640.50 | 1,656.00 | 1,635.00 | 1,642.00 | 5,918,777 | 16:29:57 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Pharmaceutical Preparations | 30.33B | 4.93B | 1.1970 | 13.71 | 67.54B |
From Apr 2019 to Apr 2024
TIDMGSK
RNS Number : 5173S
GlaxoSmithKline PLC
11 March 2019
GlaxoSmithKline plc (the 'Company')
2019 Performance Share Plan Award and 2019 Performance Measures
2019 Performance Share Plan Award
On 8 March 2019, 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 ('Ords') 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.
2019 Performance Measures
The performance condition information that follows applies to the 2019 Performance Share Plan Awards.
The performance period for the awards is the three financial years from 1 January 2019 to 31 December 2021. The awards are based on three equally weighted performance measures:
Hot Features
Premium
Performance Measure Proportion of
each award
Relative Total Shareholder Return (TSR) 1/3rd
--------------
Adjusted Free Cash Flow (AFCF) 1/3rd
--------------
Research & Development (R&D) New Product 1/3rd
performance
--------------
Relative 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). This TSR comparator group remains unchanged. 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.
The Relative TSR vesting schedule for the 2019 awards has been revised versus last year's award and is based on delivering 25% vesting for achieving median performance. In a group of 10 companies, the median (position 5.5) falls between two companies. The vesting schedule for the 2019 awards is as follows:
Ranking position Vesting Schedule
1(st) , 2(nd) or 3rd 100%
-----------------
4(th) 70%
-----------------
5(th) 40%
-----------------
Median (Threshold vesting) 25%
-----------------
6(th) or below 0%
-----------------
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 this 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 2019 award will vest as follows:
Performance Level Adjusted Free Cash Proportion Vesting
Flow target
Below threshold < GBP11.74bn 0%
-------------------- -------------------
Threshold GBP11.74bn 25%
-------------------- -------------------
GBP12.10bn 50%
---------------------------------------- -------------------
GBP13.31bn 75%
---------------------------------------- -------------------
Maximum GBP13.91bn 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 of Ordinary shares of 25 pence each ('Ordinary
the financial instrument Shares')
ISIN: GB0009252882
==== ====================================== ==================================================
b) Nature of the transaction A conditional award of Ordinary Shares
under the Company's 2017 Performance
Share Plan.
==== ====================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ======================= ======================
GBP15.124 404,592
=================================================================== ======================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
================================================================ =============================
e) Date of the transaction 2019-03-08
==== ====================================== ==================================================
f) Place of the transaction n/a
====================================== ==================================================
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 of American Depositary Shares ('ADSs')
the financial
instrument ISIN: US37733W1053
==== ====================================== ============================================
b) Nature of the A conditional award of ADSs under the
transaction Company's 2017 Performance Share Plan.
==== ====================================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ==================== ===================
$40.12 217,161
==================== ===================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
======================================= ================================================
e) Date of the transaction 2019-03-08
==== ====================================== ============================================
f) Place of the transaction n/a
====================================== ============================================
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 instrument Shares')
ISIN: GB0009252882
==== ====================================== ==================================================
b) Nature of the transaction A conditional award of Ordinary Shares
under the Company's 2017 Performance
Share Plan.
==== ====================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ======================= ======================
GBP15.124 176,560
=================================================================== ======================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
================================================================ =============================
e) Date of the transaction 2019-03-08
==== ====================================== ==================================================
f) Place of the transaction n/a
====================================== ==================================================
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 American Depositary Shares ('ADSs')
the financial
instrument ISIN: US37733W1053
==== ====================================== ============================================
b) Nature of the A conditional award of ADSs under the
transaction Company's 2017 Performance Share Plan.
==== ====================================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ==================== ===================
$40.12 68,693
==================== ===================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
======================================= ================================================
e) Date of the transaction 2019-03-08
==== ====================================== ============================================
f) Place of the transaction n/a
====================================== ============================================
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 instrument Shares')
ISIN: GB0009252882
==== ====================================== ==================================================
b) Nature of the transaction A conditional award of Ordinary Shares
under the Company's 2017 Performance
Share Plan.
==== ====================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ======================= ======================
GBP15.124 56,479
=================================================================== ======================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
================================================================ =============================
e) Date of the transaction 2019-03-08
==== ====================================== ==================================================
f) Place of the transaction n/a
====================================== ==================================================
1. Details of PDMR/person closely associated with them ('PCA')
==========================================================================================
a) Name Mr I Mackay
==== ====================================== ==================================================
b) Position/status Chief Financial Officer Designate
==== ====================================== ==================================================
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 A conditional award of Ordinary Shares
transaction under the Company's 2017 Performance Share
Plan.
==== ====================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ======================= ======================
GBP15.124 225,255
=================================================================== ======================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
================================================================ =============================
e) Date of the transaction 2019-03-08
==== ====================================== ==================================================
f) Place of the transaction n/a
====================================== ==================================================
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 American Depositary Shares ('ADSs')
the financial
instrument ISIN: US37733W1053
==== ====================================== ============================================
b) Nature of the A conditional award of ADSs under the
transaction Company's 2017 Performance Share Plan.
==== ====================================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ==================== ===================
$40.12 99,202
==================== ===================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
======================================= ================================================
e) Date of the transaction 2019-03-08
==== ====================================== ============================================
f) Place of the transaction n/a
====================================== ============================================
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 of Ordinary shares of 25 pence each ('Ordinary
the financial instrument Shares')
ISIN: GB0009252882
==== ====================================== ==================================================
b) Nature of the transaction A conditional award of Ordinary Shares
under the Company's 2017 Performance
Share Plan.
==== ====================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ======================= ======================
GBP15.124 197,760
=================================================================== ======================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
================================================================ =============================
e) Date of the transaction 2019-03-08
==== ====================================== ==================================================
f) Place of the transaction n/a
====================================== ==================================================
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 instrument Shares')
ISIN: GB0009252882
==== ====================================== ==================================================
b) Nature of the transaction A conditional award of Ordinary Shares
under the Company's 2017 Performance
Share Plan.
==== ====================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ======================= ======================
GBP15.124 162,978
=================================================================== ======================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
================================================================ =============================
e) Date of the transaction 2019-03-08
==== ====================================== ==================================================
f) Place of the transaction n/a
====================================== ==================================================
1. Details of PDMR/person closely associated with them ('PCA')
==========================================================================================
a) Name Mr R Simard
==== ====================================== ==================================================
b) Position/status President, Pharmaceuticals 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 A conditional award of Ordinary Shares
transaction under the Company's 2017 Performance Share
Plan.
==== ====================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ======================= ======================
GBP15.124 95,070
=================================================================== ======================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
================================================================ =============================
e) Date of the transaction 2019-03-08
==== ====================================== ==================================================
f) Place of the transaction n/a
====================================== ==================================================
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 of American Depositary Shares ('ADSs')
the financial
instrument ISIN: US37733W1053
==== ====================================== ============================================
b) Nature of the A conditional award of ADSs under the
transaction Company's 2017 Performance Share Plan.
==== ====================================== ============================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ==================== ===================
$40.12 83,798
==================== ===================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
======================================= ================================================
e) Date of the transaction 2019-03-08
==== ====================================== ============================================
f) Place of the transaction n/a
====================================== ============================================
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 A conditional award of Ordinary Shares
transaction under the Company's 2017 Performance Share
Plan.
==== ====================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ======================= ======================
GBP15.124 74,433
=================================================================== ======================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
================================================================ =============================
e) Date of the transaction 2019-03-08
==== ====================================== ==================================================
f) Place of the transaction n/a
====================================== ==================================================
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 A conditional award of Ordinary Shares
transaction under the Company's 2017 Performance Share
Plan.
==== ====================================== ==================================================
c) Price(s) and Price(s) Volume(s)
volume(s)
==== ====================================== ======================= ======================
GBP15.124 11,800
=================================================================== ======================
d) Aggregated information n/a (single transaction)
====
Aggregated volume
Price
================================================================ =============================
e) Date of the transaction 2019-03-08
==== ====================================== ==================================================
f) Place of the transaction n/a
====================================== ==================================================
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 Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DSHVFLFFKXFFBBK
(END) Dow Jones Newswires
March 11, 2019 14:24 ET (18:24 GMT)
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