Director/PDMR Shareholding

RNS Number : 5485L

Spirent Communications PLC

03 October 2016

 

SPIRENT COMMUNICATIONS PLC

(the "Company")

3 October 2016

DIRECTOR / PDMR SHAREHOLDING

The Board is pleased to confirm that Paula Bell joined the Company as Chief Financial Officer on 5 September 2016.

On 30 September 2016, the Company's Remuneration Committee approved the following awards of Performance shares to Ms Bell under the Company's Long-Term Incentive Plan as part of her on-hire remuneration arrangements:

292,683 Performance shares - vesting date 30 September 2019 This on-hire award, in the form of a conditional right to an award of shares, will vest on this date subject to Ms Bell's continuing employment with the Company and the achievement of key financial performance conditions to 31 December 2018.  These performance conditions match those applied to the 2016 LTIP award granted to Eric Hutchinson (as disclosed on page 57 of the Report on Directors' Remuneration in the Company's Annual Report 2015).

268,293 Performance shares - vesting date 5 March 2018 This award, in the form of a conditional right to an award of shares, will vest on this date subject to Ms Bell's continuing employment with the Company and the achievement of key financial performance conditions to 31 December 2017.  The value of this award was calculated at the time of Ms Bell's contractual negotiations based on the value of an existing award at her then-employer. These performance conditions are based on those applied to the 2016 LTIP award granted to Eric Hutchinson (as disclosed on page 57 of the Report on Directors' Remuneration in the Company's Annual Report 2015) but have been adjusted to reflect the shorter performance period.

All awards are subject to malus and clawback provisions.

The notifications below are made in accordance with the requirements of the EU Market Abuse Regulation.

1.	Details of PDMR / person closely associated
	Name	Paula Bell
2.	Reason for the notification
a)	Position / status	Chief Financial Officer
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	Grant of awards under the Long-term Incentive Plan at nil cost
c)	Price(s) and volume(s)	Price(s) Volume(s) GBPnil 292,683
d)	Aggregated information -     Aggregated volume -     price	292,683 GBPnil
e)	Date of the transaction	30 September 2016
f)	Place of the transaction	n/a

1.	Details of PDMR / person closely associated
	Name	Paula Bell
2.	Reason for the notification
a)	Position / status	Chief Financial Officer
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	Grant of awards under the Long-term Incentive Plan at nil cost
c)	Price(s) and volume(s)	Price(s) Volume(s) GBPnil 268,293
d)	Aggregated information -     Aggregated volume -     price	268,293 GBPnil
e)	Date of the transaction	30 September 2016
f)	Place of the transaction	n/a

Following these awards, Ms Bell has options over 560,976 shares in the Company.  She currently owns no Ordinary shares in the Company.

Enquiries

Angus Iveson                          Spirent Communications plc              [phone]

Company Secretary

 

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