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Spirent Comm PLC (SPT)

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Thursday 06 May, 2021

Spirent Comm PLC

Director/PDMR Shareholding

RNS Number : 8068X
Spirent Communications PLC
06 May 2021
 

 

SPIRENT COMMUNICATIONS PLC (the "Company")

 

06 May 2021

 

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

 

The Company confirms that its Remuneration Committee (the "Committee") has considered the following performance conditions attached to Restricted Stock Awards awarded on 1 April 2019 to Eric Updyke:

 

-  Mr Updyke's continuing to be employed with the Spirent Communications plc Group at the date of vesting;

-  Acceptable personal performance up to the date of vesting as determined by the Committee.

 

Following consideration of these performance conditions, the Committee has agreed that the second tranche of the awards, in the amount of 219,044 Restricted Stock Units, should vest at 100%.

 

Awards of Restricted Stock 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

 

Eric Updyke

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 Long-Term Incentive Plan at nil-cost

(ii)  Sale of shares in market to cover tax and social security liabilities

 

c)

Price(s) and volume(s)


Price(s)

Volume(s)

(i)

GBP0.0000

 

219,044

(ii)

GBP2.5064

 

111,119

d)

Aggregated information

 

-  Aggregated volume

 

-  price

 

 

 

n/a

 

n/a

 

e)

Date of the transaction

 

05 May 2021

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

Eric Updyke

224,274

1,728,122

 

 

 

 

Enquiries

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

Deputy Company Secretary

 

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