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Share Name Share Symbol Market Type Share ISIN Share Description
Glaxosmithkline Plc LSE:GSK London Ordinary Share GB0009252882 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -14.20 -0.86% 1,637.00 1,636.60 1,637.20 1,651.00 1,629.60 1,642.20 1,729,846 11:38:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 33,754.0 6,221.0 93.9 17.4 82,129

GlaxoSmithKline PLC Director/PDMR Shareholding

18/03/2020 12:20pm

UK Regulatory (RNS & others)


TIDMGSK

RNS Number : 6474G

GlaxoSmithKline PLC

18 March 2020

   GlaxoSmithKline plc   (the ' Company ') 

Vesting of Deferred Annual Bonus Plan Mandatory and Matching Awards

As announced on 19 February 2020, awards made to the Chief Executive Officer and other Persons Discharging Managerial Responsibilities ('PDMRs') under the GlaxoSmithKline 2009 Deferred Annual Bonus Plan ('DABP') and the associated Matching Awards, vested on 17 and 18 February 2020. These awards were made on a pre-tax basis. The Matching Awards were subject to the achievement of relevant business performance measures over a three-year performance period beginning on 1 January 2017 and ending on 31 December 2019.

The notifications that follow relate to a PDMR who elected to participate in the DABP in respect of his deferred bonus amount on a post-tax basis. The awards were made over American Depositary Shares ('ADSs'). The first notification shows the vesting of the deferred bonus amount (Co-Investment shares), including dividends accrued, and the proportion of the Matching Award, including dividends accrued, which vested subject to the achievement of relevant business performance measures. The second notification shows the proportion of the vested Matching Award which was withheld for tax. The performance measure vesting details for the DABP Matching Award 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 GBP13bn, which 
             is above the level of GBP12.95bn 
             required for maximum vesting. 
             Adjustments to the original target 
             and vesting schedule were communicated 
  1/3rd      in the 2018 Annual Report.                      100          33.333 
           -------------------------------------------  -------------  ----------- 
            Total Shareholder Return - For the 
             three years ending 31 December 2019, 
             the Company's Total Shareholder Return 
             ranked 8th, which is below the threshold 
             vesting level against a comparator 
             group of 10 global pharmaceutical 
  1/3rd      companies including GSK.                         0             0 
           -------------------------------------------  -------------  ----------- 
            R&D New Products - For the three-year 
             period, the Company achieved New 
             Product sales calculated in accordance 
             with the principles for the measure 
             of GBP7.254bn, which is above the 
             level of GBP5.099bn required for 
             maximum vesting. The threshold level 
  1/3rd      was GBP4.172bn.                                 100          33.333 
           -------------------------------------------  -------------  ----------- 
                                         Total vesting for 2017 award      66.666% 
                                                               Lapsed      33.334% 
 --------------------------------------------------------------------  ----------- 
 

The vesting date was 16 March 2020 and the closing price of an ADS on that date was $33.67.

Transaction notification

 
 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             The number of ADSs released on an award 
       transaction               granted in 2017 under the Company's 2009 
                                 Deferred Annual Bonus Plan - Deferred Bonus 
                                 (Co-investment shares) and Matching Award 
                                 (post-tax). 
===  =========================  ================================================== 
 c)   Price(s) and                Price(s)   Volume(s) 
       volume(s) 
===  =========================    =========  =================================== 
                                  $0.00      2,391.955 (Co-investment shares) 
===  =========================    =========  =================================== 
                                  $0.00      1,614 (Matching Award) 
                                  =========  =================================== 
 
 d)   Aggregated information 
=== 
 
       Aggregated volume         4,005.955 
        Price 
                                  $0.00 
===  =========================  ================================================== 
 e)   Date of the transaction   2020-03-16 
===  =========================  ================================================== 
 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 of                           American Depositary Shares ('ADSs') 
        the financial 
        instrument                               ISIN: US37733W1053 
====  ========================================  ================================================ 
 b)    Nature of the                            The sale of ADSs to meet tax liabilities 
        transaction                              on the vesting of the Matching Award under 
                                                 the Company's 2009 Deferred Annual Bonus 
                                                 Plan. 
====  ========================================  ================================================ 
 c)    Price(s) and                              Price(s)              Volume(s) 
        volume(s) 
====  ========================================   ====================  ======================= 
                                                 $33.42                825 
                                                 ====================  ======================= 
 
 d)    Aggregated information                   N/A (single transaction) 
==== 
 
    Aggregated volume 
    Price 
 =========================================  ==================================================== 
 e)    Date of the transaction                  2020-03-16 
====  ========================================  ================================================ 
 f)    Place of the                             New York Stock Exchange (XNYS) 
        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 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

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