Last checked at 17 Feb 2017 15:58
GlaxoSmithKline plc (the 'Company')
Conditional Share Awards
This notification sets out the vesting details of awards over Ordinary Shares and American Depositary Shares made in 2014 under the GlaxoSmithKline Performance Share Plan (PSP), which were subject to relevant business performance conditions. The three year performance period for the 2014 awards commenced on 1 January 2014 and ended on 31 December 2016.
This notification also includes the vesting details of awards granted in 2012 to Sir Andrew Witty under the PSP which were subject to an additional holding period.
The performance measure vesting details for those Persons Discharging Managerial Responsibilities (PDMRs) who received awards in 2014 as Corporate Executive Team members are set out in the following table. The awards to other PDMRs were subject to relevant business performance measures.
Portion of the Award | Measure | Outcome | Overall outcome |
1/3rd | Adjusted free cash flow - The Company did not meet the threshold level of performance for adjusted free cash flow for the three year period. | Lapsed in full | 0% |
1/3rd | TSR measure - For the three years ending 31 December 2016, the Company's TSR ranked 9th (i.e. below median) against a comparator group of 10 global pharmaceutical companies including GSK. | Lapsed in full | 0% |
1/3rd | R&D New Products sales measure - For the three year period, the Company achieved New Product sales calculated in accordance with the principles for the measure of £6.717bn, which was above the maximum vesting level of £4.428bn (the threshold level was £3.623bn) after appropriate adjustments for the implications of the three-part transaction with Novartis. | Vested in full | 33.33% |
| Total vesting for 2014 award Lapsed | 33.33% 66.67% | |
The notifications that follow are for awards made to PDMRs and persons closely associated with them ('PCA") and show the number of PSP conditional awards that vested, including dividends accrued, on 16 February 2017. 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 16 February 2017 were £16.17 and $40.92.
Transaction notification
1. | Details of PDMR/person closely associated with them ('PCA') | |||||||
a) | Name | Sir Andrew Witty | ||||||
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 released on awards granted in 2012 under the Company's 2009 Performance Share Plan, which had been held for a further two years following vesting in 2015. | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information
Aggregated volume Price |
19,622 £0.00 | ||||||
e) | Date of the transaction | 2017-02-16 | ||||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Sir Andrew Witty | ||||
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 2014 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 | 2017-02-16 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Sir Andrew Witty | ||||
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 2014 under the Company's 2009 Performance Share Plan, which will be held for a further two years and released in 2019. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2017-02-16 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Ms E Walmsley | ||||
b) | Position/status | CEO Designate | ||||
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 2014 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 | 2017-02-16 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mr R G 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 2014 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 | 2017-02-16 | ||||
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 2014 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 | 2017-02-16 | ||||
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 2014 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 | 2017-02-16 | ||||
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 & 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 | GlaxoSmithKline plc American Depositary Shares ('ADSs')
ISIN: US37733W1053 | ||||
b) | Nature of the transaction | The number of ADSs vesting on awards granted in 2014 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 | 2017-02-16 | ||||
f) | Place of the transaction
| n/a
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mr S A Hussain | ||||
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 2014 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 | 2017-02-16 | ||||
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, 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 which were in respect of awards made to compensate for the value of awards forfeited on leaving his previous employer.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2017-02-16 | ||||
f) | Place of the transaction
| n/a
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mr D S 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 2014 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 | 2017-02-16 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Dr M M Slaoui | ||||
b) | Position/status | Chairman, 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 | GlaxoSmithKline plc American Depositary Shares ('ADSs')
ISIN: US37733W1053 | ||||
b) | Nature of the transaction | The number of ADSs vesting on awards granted in 2014 under the Company's 2009 Performance Share Plan, which will be held for a further three years.
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2017-02-16 | ||||
f) | Place of the transaction
| n/a
| ||||
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 2014 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 | 2017-02-16 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mr P C Thomson | ||||
b) | Position/status | SVP, Communications & Government 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 2014 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 | 2017-02-16 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mr D E 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 2014 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 | 2017-02-16 | ||||
f) | Place of the transaction
| n/a
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Dr P J T Vallance | ||||
b) | Position/status | 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 2014 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 | 2017-02-16 | ||||
f) | Place of the transaction
| London Stock Exchange (XLON)
| ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Mrs V A 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 2014 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 | 2017-02-16 | ||||
f) | Place of the transaction
| n/a | ||||
1. | Details of PDMR/person closely associated with them ('PCA') | |||||
a) | Name | Dr K Slaoui | ||||
b) | Position/status | PCA of Dr M M Slaoui (Chairman, 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 | GlaxoSmithKline plc American Depositary Shares ('ADSs')
ISIN: US37733W1053 | ||||
b) | Nature of the transaction | The number of ADSs vesting on awards granted in 2014 under the Company's 2009 Performance Share Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information A ggregated volume Price | n/a (single transaction) | ||||
e) | Date of the transaction | 2017-02-16 | ||||
f) | Place of the transaction
| n/a
| ||||