Director/PDMR Shareholding

RNS Number : 0960A
Spirent Communications PLC
27 May 2021
 

 

SPIRENT COMMUNICATIONS PLC (the "Company")

 

27 May 2021

 

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

 

The Company confirms that on 22 May 2021 the performance conditions attached to 302,402 Performance Shares awarded to Paula Bell on 22 May 2018 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, 302,402 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

 

302,402

(ii)

GBP2.462952

 

143,808

d)

Aggregated information

 

-  Aggregated volume

 

-  price

 

 

 

n/a

 

n/a

 

e)

Date of the transaction

 

(i)  24 May 2021

(ii)  26 May 2021

f)

Place of the transaction

 

(iii)  Outside a trading venue

(iv)  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

522,905

828,647

 

 

 

 

Enquiries

Michelle Balch  Spirent Communications plc  +44 (0)1293 767676

Deputy Company Secretary

 

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