Director/PDMR Shareholding

RNS Number : 3474O

Spirent Communications PLC

01 October 2019

 

SPIRENT COMMUNICATIONS PLC (the "Company")

1 October 2019

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

The Company confirms that on 30 September 2019 the performance conditions attached to 292,683 Performance Shares awarded to Paula Bell on 30 September 2016 were tested, with the following results:

50% of awards subject to EPS performance condition         78.625% vest

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

As a result, 261,402 shares vested and became exercisable by Ms Bell.  Performance Shares forming part of this award which did not vest have now lapsed.

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 these awards, 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 261,402 (ii) GBP1.977400 123,182
d)	Aggregated information -     Aggregated volume -     price	n/a n/a
e)	Date of the transaction	30 September 2019
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	365,316	858,339

Enquiries

Michelle Balch                                    Spirent Communications plc              [phone]

Deputy Company Secretary

 

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