REG - GSK PLC - Director/PDMR Shareholding
16/02/2026 15:30
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260216:nRSP2128Ta&default-theme=true
RNS Number : 2128T GSK PLC 16 February 2026
GSK plc (the 'Company')
2026 Performance Share Plan Award and 2026 Performance Measures
2026 Performance Share Plan Award
On 12 February 2026, the Company granted conditional share awards to the
Persons Discharging Managerial Responsibilities ('PDMRs') and their Persons
Closely Associated ('PCAs') listed below under the GlaxoSmithKline 2017
Performance Share Plan ('the Plan'). The Plan 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 other 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.
The performance period for the awards is the three financial years from 1
January 2026 to 31 December 2028.
2026 Performance Measures
The awards are based on the following five measures:
Performance Measure Proportion of
each award
Total Sales Growth 17.5%
Core Operating Profit Growth 17.5%
Pipeline Sustainability 17.5%
Responsible Business: Composite Scorecard 7.5%
Relative Total Shareholder Return (TSR) 40%
Total sales and Core operating profit growth
These targets were set following the Board's annual planning process and
consideration of analysts' consensus to ensure that they are sufficiently
stretching and support the Committee's aim to incentivise and reward over
performance.
Performance vs Target Proportion Vesting
Below threshold < 99% of Target Nil
Threshold 99% of Target 20%: CEO
25%: CFO / All Others
Target 100% of Target 50%
103% of Target 75%
Maximum 105% of Target 100%
Pipeline Sustainability
The Pipeline Sustainability measure focuses on GSK's replenishment of the
pipeline and longer-term pipeline performance. For inclusion, a Programme must
be either a New Molecular Entity (NME), or a new indication which adds £0.5
billion to Peak Year Sales. Programmes approved and launched during the
three-year window will contribute to the total number of assets and to the
sales contribution. It is based on a matrixed assessment of:
- Pipeline sales contribution to GSK's long range forecast (LRF) outlook. The
target and vesting will each be based on 10-year net risk adjusted sales
forecast, e.g., the 2026-2028 target based on the 2035 LRF and vesting based
on the 2038 LRF, and
- the Number of Programmes in Phase 2 and 3 and Registration and Approval.
This element of the PSP will only vest, either in full or in part, if at the
time of vesting the most recently governed and published 2031 Sales outlook
remains at least £40 billion(1). At the end of the period a list of the
Programmes added or removed during the period will be disclosed. However, the
pipeline sales contributions in the 2035 and 2038 LRFs and the assessment
matrix will not be disclosed, as they are commercially sensitive. For the
achievement of Threshold performance for both the Pipeline Sales contribution
and the number of Programmes, the vesting proportions shall be 20% for the
CEO, and 25% for the CFO / All Others.
Responsible Business: Composite scorecard
The Composite scorecard focuses on all the Responsible Business metrics within
the Responsible Business Performance Rating. The rating is reported on in
detail in each year's Annual Report with the scorecard providing a balanced
assessment of performance against all our Responsible Business priorities.
Performance will be calculated by aggregating the annual performance across
all the individual annual metrics within the rating for the 3 years of the PSP
performance period.
Performance Vesting Schedule
70% or more of all metrics are on track 100%
60% of all metrics are on track 75%
50% of all metrics are on track 50%
Less than 50% of all metrics are on track, but progress is being made because 20%: CEO
at least 50% are either on track, or on track with work to do (the 'threshold'
vesting level) 25%: CFO / All Others
Less than 50% of all metrics are either on track or on track with work to do, Nil
the rest (i.e. more than 50%) are off track
Relative TSR
Performance against our size-adjusted global biopharma peer group of 13
companies will be assessed using a percentile vesting approach. This compares
GSK's actual TSR performance with that of our peers.
The median TSR and the upper quintile TSR of the peers is calculated excluding
GSK's TSR. GSK's TSR is then compared against the median and upper quintile
TSR on an interpolated basis. Threshold performance is at median, and maximum
vesting (100%) is achieved for upper quintile performance. Straight-line
interpolation determines vesting levels between median and upper quintile.
TSR Performance Vesting Schedule
Above upper quintile 100%
Upper quintile 100%
Between median and upper quintile Straight-line interpolation
Median (threshold vesting) 20%: CEO
25%: CFO / All Others
Below median of peer group Nil
(1) See assumptions and basis of preparation related to 2026 guidance, 2021-26
and 2031 Outlooks within GSK's Full-year and fourth quarter 2025 results
announcement and GSK's cautionary statement below.
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 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 holding
period of two years (the 'Holding Period') from the normal vesting date, i.e.
five years in total. During the Holding Period, the relevant Ordinary
Shares or ADS would only be forfeited in the event that the Executive
Director was terminated for cause, and the Ordinary Shares or ADS will
continue to carry rights to dividend equivalents.
Transaction notification
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Luke Miels
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 GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 463,662
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Julie Brown
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 GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 196,548
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Lynn Baxter
b) Position/status President, Europe
c) Initial notification/ Initial notification
amendment
2. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 32,757
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Mike Crichton
b) Position/status President, International
c) Initial notification/ Initial notification
amendment
2. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 37,315
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name James Ford
b) Position/status SVP and Group General Counsel, Legal 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 GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 133,977
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Mondher Mahjoubi
b) Position/status Chief Patient Officer
c) Initial notification/ Initial notification
amendment
2. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 37,906
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Maya Martinez-Davis
b) Position/status President, US
c) Initial notification/ Initial notification
amendment
2. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name GSK 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 the financial instrument American Depositary Shares ('ADS')
ISIN: US37733W2044
b) Nature of the transaction A conditional award of ADS under the Company's 2017 Performance Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
$58.49 53,433
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Nina Mojas
b) Position/status President, Global Product Strategy
c) Initial notification/ Initial notification
amendment
2. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 38,291
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Shobie Ramakrishnan
b) Position/status Chief Digital and 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 GSK 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 the financial instrument American Depositary Shares ('ADS')
ISIN: US37733W2044
b) Nature of the transaction A conditional award of ADS under the Company's 2017 Performance Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
$58.49 44,313
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name David Redfern
b) Position/status President, Corporate Development
c) Initial notification/ Initial notification
amendment
2. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 143,579
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Regis Simard
b) Position/status President, Global 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 GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 150,453
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Phil 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 GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 66,221
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Deborah Waterhouse
b) Position/status CEO, ViiV Healthcare and President, Global Health, GSK
c) Initial notification/ Initial notification
amendment
2. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 136,579
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Tony Wood
b) Position/status Chief Scientific Officer
c) Initial notification/ Initial notification
amendment
2. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.50 247,138
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Victoria Whyte
b) Position/status SVP & 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 GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.41 11,800
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
1. Details of PDMR/person closely associated with them ('PCA')
a) Name Neil Falkingham
b) Position/status PCA of Lynn Baxter (President, Europe)
c) Initial notification/ Initial notification
amendment
2. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name GSK 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 the financial instrument Ordinary shares of 31 ¼ pence each ('Ordinary Shares')
ISIN: GB00BN7SWP63
b) Nature of the transaction A conditional award of Ordinary Shares under the Company's 2017 Performance
Share Plan
c) Price(s) and volume(s) Price(s) Volume(s)
£21.41 11,800
d) Aggregated information N/A (single transaction)
Aggregated volume Price
e) Date of the transaction 2026-02-12
f) Place of the transaction N/A
About GSK
GSK is a global biopharma company with a purpose to unite science, technology,
and talent to get ahead of disease together. Find out more at www.gsk.com
(http://www.gsk.com/) .
Cautionary statement regarding forward-looking statements
GSK cautions investors that any forward-looking statements or projections made
by GSK, including those made in this announcement, are subject to risks and
uncertainties that may cause actual results to differ materially from those
projected. Such factors include, but are not limited to, those described in
the "Risk Factors" section in GSK's Annual Report on Form 20-F for 2024, and
GSK's Q4 Results for 2025.
Registered in England & Wales:
No. 3888792
Registered Office:
79 New Oxford Street
London
WC1A 1DG
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 (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DSHSFSFLMEMSEFE
Copyright 2019 Regulatory News Service, all rights reservedRecent news on GSK
See all newsREG - GSK PLC - Transaction in Own Shares
AnnouncementREG - GSK PLC - GSK enters agreement to acquire 35Pharma
AnnouncementREG - GSK PLC - Director/PDMR Shareholding
AnnouncementREG - GSK PLC - Transaction in Own Shares
AnnouncementREG - GSK PLC - Transaction in Own Shares
Announcement