Lapse of 2014 Long-Term Incentive Award

RNS Number : 9688D

Spirent Communications PLC

02 May 2017

 

SPIRENT COMMUNICATIONS PLC

2 May 2017

DIRECTOR / PDMR SHAREHOLDING: LAPSE OF 2014 LONG-TERM INCENTIVE AWARDS

The Company confirms that neither of the performance conditions associated with awards made under the Spirent Employee Incentive Plan on 28 April 2014 reached threshold performance conditions for vesting and hence all awards under the award lapsed on their third anniversary of grant, 28 April 2017.

Details of the lapsed awards relating to current PDMRs are set out below.

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	Lapse of award of Performance Shares (nil-cost options) granted on 28 April 2014 under the Spirent Employee Incentive Plan 2005 due to failed performance conditions
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.00 493,583
d)	Aggregated information -     Aggregated volume -     price	493,583 0.00
e)	Date of the transaction	28 April 2017
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated
	Name	James Armstrong
2.	Reason for the notification
a)	Position / status	Chief Operating 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	Lapse of award of Performance Shares (nil-cost options) granted on 28 April 2014 under the Spirent Employee Incentive Plan 2005 due to failed performance conditions
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.00 117,520
d)	Aggregated information -     Aggregated volume -     price	117,520 0.00
e)	Date of the transaction	28 April 2017
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated
	Name	Nigel Wright
2.	Reason for the notification
a)	Position / status	EVP, Global Sales
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	Lapse of award of Performance Shares (nil-cost options) granted on 28 April 2014 under the Spirent Employee Incentive Plan 2005 due to failed performance conditions
c)	Price(s) and volume(s)	Price(s) Volume(s) 0.00 58,760
d)	Aggregated information -     Aggregated volume -     price	58,760 0.00
e)	Date of the transaction	28 April 2017
f)	Place of the transaction	Outside a trading venue

Enquiries

Michelle Balch                         Spirent Communications plc              [phone]

Deputy Company Secretary

 

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