Director/PDMR Shareholding

RNS Number : 9933L

Spirent Communications PLC

05 May 2020

 

SPIRENT COMMUNICATIONS PLC (the "Company")

5 May 2020

DIRECTOR / PDMR SHAREHOLDING: Vesting and Exercise of Performance Share Awards under Spirent Long-Term Incentive Plan

The Company confirms that on 4 May 2020 the performance conditions attached to 279,661 Performance Shares awarded to Paula Bell on 4 May 2017 were tested, with the following results:

50% of award subject to EPS performance condition  100% vest

50% of award subject to TSR performance condition  100% vest

As a result, 279,661 shares vested and became exercisable by Ms Bell.

Awards of Performance Shares under the Spirent Long-Term Incentive Plan are not tax approved and income tax and social security deductions become payable by the individual on vesting.

As a result of the vesting of this award, the following transactions have taken place:

1.	Details of PDMR / person closely associated
	Name	Paula Bell
2.	Reason for the notification
a)	Position / status	CFO
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Full name of the entity	Spirent Communications plc
b)	Legal Entity Identifier Code	213800HKCUNWP1916L38
4.	Details of the transaction(s)
a)	Description of the financial instrument Identification code	Ordinary shares of 3&1/3 pence each GB0004726096
b)	Nature of the transaction	(i)  Exercise of shares arising from Spirent Long-Term Incentive Plan at nil-cost (ii)  Sale of shares in market to cover tax and national insurance liabilities
c)	Price(s) and volume(s)	Price(s) Volume(s) (i) GBP0.0000 279,661 (ii) GBP2.3500 131,769
d)	Aggregated information -  Aggregated volume -  price	n/a n/a
e)	Date of the transaction	4 May 2020
f)	Place of the transaction	(i)  Outside a trading venue (ii)  London

Following this notification, the individuals listed above hold options over the following total number of shares:

Director / PDMR	Total beneficial interest in shares	Total number of shares over which options held
Paula Bell	513,596	637,905

Enquiries

Michelle Balch  Spirent Communications plc  [phone]

Deputy Company Secretary

 

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