GlaxoSmithKline PLC Director/PDMR Shareholding (6474G)
18 Marzo 2020 - 1:20PM
UK Regulatory
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
==== ======================================== ================================================
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END
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