GlaxoSmithKline

GSK
Delayed London Stock Exchange - 04/03 05:35:03 pm
1489.4GBp
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GlaxoSmithKline : Description Report of Foreign Issuer

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02/19/2020 | 06:29 pm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2020

Commission File Number 001-15170

GlaxoSmithKline plc

(Translation of registrant's name into English)

980 Great West Road, Brentford, Middlesex, TW8 9GS

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F . . . .X. . . . Form 40-F . . . . . . . .

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____

GlaxoSmithKline plc (the 'Company')

Vesting of Deferred Annual Bonus Plan Mandatory and Matching Awards

This notification sets out the vesting details for the Chief Executive Officer and other Persons Discharging Managerial Responsibilities ('PDMRs') of Deferred Bonus Awards over Ordinary Shares and American Depositary Shares ('ADSs') made in 2017 under the GlaxoSmithKline 2009 Deferred Annual Bonus Plan ('DABP') and the associated Matching Awards, which were subject to relevant business performance conditions. The three-year performance period for the 2017 Matching Awards commenced on 1 January 2017 and ended on 31 December 2019.

The performance measure vesting details for the DABP Matching Awards are as follows:

Outcome and Vesting Level

Portion of the

Measure and Outcome

% of maximum

% of award

Award

1/3rd

Adjusted Free Cash Flow - For the three-year period, the Company achieved Adjusted Free Cash Flow

100

33.333

calculated in accordance with the principles for the measure of £13bn, which is above the level of

£12.95bn required for maximum vesting.

Adjustments to the original target and vesting schedule were communicated in the 2018 Annual Report.

1/3rd

Total Shareholder Return - For the three years ending 31 December 2019, the Company's Total

0

0

Shareholder Return ranked 8th, which is below the threshold vesting level against a comparator group of

10 global pharmaceutical companies including GSK.

1/3rd

R&D New Products - For the three-year period, the Company achieved New Product sales calculated in

100

33.333

accordance with the principles for the measure of £7.254bn, which is above the level of £5.099bn required

for maximum vesting. The threshold level was £4.172bn.

Total vesting for 2017 award

66.666%

Lapsed 33.334%

The notifications that follow are for awards made to the Chief Executive Officer and other PDMRs. They show the vesting of the Deferred Annual Bonus Awards including dividends accrued, and the proportion vesting in respect of the associated Matching Awards i.e. conditional awards that vested according to performance, including dividends accrued. The balance of the Matching Award made to each PDMR has lapsed.

The vesting date for awards over Ordinary Shares was 17 February 2020. The vesting date for awards over ADSs was 18 February 2020. The closing prices of Ordinary Shares and of ADSs of GlaxoSmithKline plc on their respective vesting dates were £16.616 and $43.55.

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 released on awards granted in 2017 under the Company's 2009 Deferred Annual

Bonus Plan - Deferred Bonus and Matching Awards.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

37,221 (Deferred)

£0.00

24,815 (Matching)

d)

Aggregated information

N/A (single transaction)

Aggregated volume Price

62,036

£0.00

e)

Date of the transaction

2020-02-17

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 released on awards granted in 2017 under the Company's 2009 Deferred Annual

Bonus Plan - Deferred Bonus and Matching Awards.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

19,375 (Deferred)

£0.00

12,917 (Matching)

d)

Aggregated information

N/A (single transaction)

Aggregated volume Price

32,292

£0.00

e)

Date of the transaction

2020-02-17

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 released on awards granted in 2017 under the Company's 2009 Deferred Annual

Bonus Plan - Deferred Bonus and Matching Awards.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

12,243 (Deferred)

£0.00

8,163 (Matching)

d)

Aggregated information

N/A (single transaction)

Aggregated volume Price

20,406

£0.00

e)

Date of the transaction

2020-02-17

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 released on awards granted in 2017 under the Company's 2009 Deferred Annual Bonus

Plan - Deferred Bonus and Matching Awards.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

$0.00

7,116 (Deferred)

$0.00

4,745 (Matching)

d)

Aggregated information

N/A (single transaction)

Aggregated volume Price

11,861

$0.00

e)

Date of the transaction

2020-02-18

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 released on awards granted in 2017 under the Company's 2009 Deferred Annual

Bonus Plan - Deferred Bonus and Matching Awards.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00.

15,407 (Deferred)

£0.00

10,273 (Matching)

d)

Aggregated information

N/A (single transaction)

Aggregated volume Price

25,680

£0.00

e)

Date of the transaction

2020-02-17

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 released on awards granted in 2017 under the Company's 2009 Deferred Annual

Bonus Plan - Deferred Bonus and Matching Awards.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

£0.00

7,302 (Deferred)

£0.00

4,869 (Matching)

d)

Aggregated information

N/A (single transaction)

Aggregated volume Price

12,171

£0.00

e)

Date of the transaction

2020-02-17

f)

Place of the transaction

N/A

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised.

GlaxoSmithKline plc (Registrant)

Date: February 19, 2020

By:/s/ VICTORIA WHYTE

--------------------------

Victoria Whyte Authorised Signatory for and on behalf of GlaxoSmithKline plc

Disclaimer

GSK - GlaxoSmithKline plc published this content on 19 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 February 2020 17:29:03 UTC

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