REG - GlaxoSmithKline PLC - Director/PDMR Shareholding

GSKAnnouncement

15/02/2021 10:10

RNS Number : 0990P
  
GlaxoSmithKline PLC
  
15 February 2021
  
 

 
GlaxoSmithKline plc (the 'Company')
 
Vesting of Performance Share Plan Awards
This notification sets out the vesting details of awards over Ordinary Shares and American Depositary Shares ('ADSs') made to Persons Discharging Managerial Responsibilities ('PDMRs') and their Persons Closely Associated ('PCAs') in 2018 under the GlaxoSmithKline 2017 Performance Share Plan ('PSP'), which were subject to relevant business performance conditions.  Awards were made in 2018 and the three-year performance period commenced on 1 January 2018 and ended on 31 December 2020.  The vested shares for the Executive Directors are now subject to an additional two-year vesting period.  
The performance measure vesting details for those PDMRs who received awards in 2018 are set out in the following table. 




 


Outcome and Vesting Level




Portion of the Award


Measure and Outcome


% of maximum


% of award




1/3rd


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 £15.64bn, which is above the level of £12.60bn required for maximum vesting. 
Adjustments to the original target and vesting schedule were communicated in the 2019 Annual Report.


100


33.333




1/3rd


Total Shareholder Return - For the three years ending 31 December 2020, the Company's Total Shareholder Return ranked 9th, which is below the threshold vesting level against a comparator group of 10 global pharmaceutical companies including GSK.


0


0




1/3rd


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 £7.337bn, which is above the level of £4.387bn required for maximum vesting.  The threshold vesting level was £3.589bn. 


100


33.333




 


Total vesting for 2018 award
Lapsed


66.666%
33.334%




 
The notifications that follow are for awards made to PDMRs and their PCAs and detail the PSP conditional awards that vested, including dividends accrued, on 11 February 2021.  The balance of the award made to each PDMR and PCA has lapsed.
The closing prices of Ordinary Shares and of ADSs of GlaxoSmithKline plc on the vesting date were £12.552 and $35.52.
 
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/
amendment


Initial notification




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 the financial instrument


Ordinary Shares of 25 pence each ('Ordinary Shares')
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


340,753


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


American Depositary Shares ('ADSs')
 
ISIN: US37733W1053




b)


Nature of the transaction


The number of ADSs vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


$0.00


180,833


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


Ordinary Shares of 25 pence each ('Ordinary Shares')
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


135,107


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




f)


Place of the transaction
 


N/A




 




1.


Details of PDMR/person closely associated with them ('PCA')




a)


Name


Ms D Conrad




b)


Position/status


SVP, Human Resources




c)


Initial notification/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


9,181


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


American Depositary Shares ('ADSs')
 
ISIN: US37733W1053




b)


Nature of the transaction


The number of ADSs vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


$0.00


5,229


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.  




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


50,108


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




f)


Place of the transaction
 


N/A




 




1.


Details of PDMR/person closely associated with them ('PCA')




a)


Name


Ms S Jackson




b)


Position/status


SVP, Global Communications & CEO Office




c)


Initial notification/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


9,181


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




f)


Place of the transaction
 


N/A




 




1.


Details of PDMR/person closely associated with them ('PCA')




a)


Name


Mr D Jackson




b)


Position/status


PCA of Ms S Jackson (SVP, Global Communications & CEO Office)




c)


Initial notification/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


4,335


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


American Depositary Shares ('ADSs')
 
ISIN: US37733W1053




b)


Nature of the transaction


The number of ADSs vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


$0.00


84,162


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


175,482


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


92,622


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


9,181


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


American Depositary Shares ('ADSs')
 
ISIN: US37733W1053




b)


Nature of the transaction


The number of ADSs vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


$0.00


69,781


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




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/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


66,043


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




f)


Place of the transaction
 


N/A




 




1.


Details of PDMR/person closely associated with them ('PCA')




a)


Name


Ms D Waterhouse




b)


Position/status


CEO, ViiV Healthcare




c)


Initial notification/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


12,589


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




f)


Place of the transaction
 


N/A




 




1.


Details of PDMR/person closely associated with them ('PCA')




a)


Name


Ms V Whyte




b)


Position/status


Company Secretary




c)


Initial notification/
amendment


Initial notification




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 the financial instrument


Ordinary shares of 25 pence each ('Ordinary Shares')
 
ISIN: GB0009252882




b)


Nature of the transaction


The number of Ordinary Shares vesting on awards granted in 2018 under the Company's 2017 Performance Share Plan.




c)


Price(s) and volume(s)


 


Price(s)


Volume(s)


 




 


£0.00


9,181


 




 


 


 


 




d)


Aggregated information
 


N/A (single transaction)




 
Aggregated volume Price


 




e)


Date of the transaction


2021-02-11




f)


Place of the transaction
 


N/A




 
 
 
 
 

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