Last checked at 16 Feb 2018 17:25
GlaxoSmithKline plc (the 'Company')
Conditional Share Awards
This notification sets out the vesting details of awards over Ordinary Shares and American Depositary Shares ('ADS') made in 2015 under the GlaxoSmithKline Performance Share Plan ('PSP'), which were subject to relevant business performance conditions. The three-year performance period for the 2015 awards commenced on 1 January 2015 and ended on 31 December 2017.
The performance measure vesting details for those Persons Discharging Managerial Responsibilities ('PDMRs') who received awards in 2015 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 £12.47bn which is above the threshold level of £11.48bn. | 63 | 21 |
1/3rd | Total Shareholder Return - For the three years ending 31 December 2017, the Company's Total Shareholder Return ranked 5th, which is above the threshold vesting level against a comparator group of 10 global pharmaceutical companies including GSK. | 44 | 14.67 |
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 £11.266bn, which is above the maximum vesting level of £7.912bn (the threshold level was £6.474bn). | 100 | 33.33 |
| Total vesting for 2015 award Lapsed | 69% 31% | |
The notifications that follow are for awards made to PDMRs and detail the PSP conditional awards that vested, including dividends accrued, on 15 February 2018. The balance of the award made to each PDMR has lapsed.
The closing share prices of an Ordinary Share and of an ADS of GlaxoSmithKline plc at the point of vesting on 15 February 2018 were £13.004 and $37.31.
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 2015 under the Company's 2009 Performance Share Plan.
| ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information
Aggregated volume Price |
138,821 £0.00 | ||||||
e) | Date of the transaction | 2018-02-15 | ||||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mr R Connor | ||||
b) | Position/status | President, Global Manufacturing & Supply | ||||
c) | Initial notification/ 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 2015 under the Company's 2009 Performance Share Plan.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mr L Debruyne | ||||
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 2015 under the Company's 2009 Performance Share Plan.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mr S Dingemans | ||||
b) | Position/status | Chief Financial 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 2015 under the Company's 2009 Performance Share Plan. These shares are subject to a two-year holding period to end in 2020.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
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 2015 under the Company's 2009 Performance Share Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
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 | GlaxoSmithKline plc American Depositary Shares ('ADSs') ISIN: US37733W1053
| ||||||
b) | Nature of the transaction | The number of ADSs vesting on awards granted in 2015 under the Company's 2009 Performance Share Plan and which were made to compensate for the value of awards forfeited on completion of the Joint Venture with Novartis.
| ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information
Aggregated volume Price |
29,216 $0.00 | ||||||
e) | Date of the transaction | 2018-02-15 | ||||||
f) | Place of the transaction
| New York Stock Exchange (XNYS)
| ||||||
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 2015 under the Company's 2009 Performance Share Plan.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Ms C Thomas | ||||
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 2015 under the Company's 2009 Performance Share Plan.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
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 2015 under the Company's 2009 Performance Share Plan.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mr D Troy | ||||
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 | GlaxoSmithKline plc American Depositary Shares ('ADSs') ISIN: US37733W1053
| ||||
b) | Nature of the transaction | The number of ADSs vesting on awards granted in 2015 under the Company's 2009 Performance Share Plan.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| New York Stock Exchange (XNYS)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Dr P Vallance | ||||
b) | Position/status | Outgoing 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 | 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 2015 under the Company's 2009 Performance Share Plan.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mrs 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 2015 under the Company's 2009 Performance Share Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction)
| ||||
e) | Date of the transaction | 2018-02-15 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON) | ||||