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Regulatory Story
Company Spirent Communications PLC
TIDM SPT
Headline Director/PDMR Shareholding
Released 11:27 01-Oct-2019
Number 3474O11

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              +44 (0)1293 767676

Deputy Company Secretary

 


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