Director/PDMR Shareholding

RNS Number : 2419P

Spirent Communications PLC

24 May 2018

 

SPIRENT COMMUNICATIONS PLC (the "Company")

24 May 2018

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

The Company confirms that on 18 May 2018 the performance conditions attached to 578,035 Performance Shares awarded to Eric Hutchinson, the Company's CEO, on 18 May 2015 were tested, with the following results:

50% of awards subject to EPS performance condition         81.00% vest

50% of awards subject to TSR performance condition         45.90% vest

As a result, 366,762 shares vested award vested and became exercisable by Mr Hutchinson.  Performance Shares forming part of this award which did not vest have now lapsed.

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

The following transactions have taken place:

1.	Details of PDMR / person closely associated
	Name	Eric Hutchinson
2.	Reason for the notification
a)	Position / status	CEO
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 Employee Incentive Plan at nil-cost (ii)        Sale of shares in market
c)	Price(s) and volume(s)	Price(s) Volume(s) (i) GBP0.0000 366,762 (ii) GBP1.1260 366,762
d)	Aggregated information -     Aggregated volume -     price	n/a n/a
e)	Date of the transaction	24 May 2018
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 number of shares held	Total number of shares over which options held
Eric Hutchinson	2,008,123	1,290,232

Enquiries

Michelle Balch                         Spirent Communications plc              [phone]

Deputy Company Secretary

 

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