Spirent Communications PLC Director/PDMR Shareholding (5485L)

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RNS Number : 5485L

Spirent Communications PLC

03 October 2016

SPIRENT COMMUNICATIONS PLC

(the "Company")

3 October 2016

DIRECTOR / PDMR SHAREHOLDING

The Board is pleased to confirm that Paula Bell joined the Company as Chief Financial Officer on 5 September 2016.

On 30 September 2016, the Company's Remuneration Committee approved the following awards of Performance shares to Ms Bell under the Company's Long-Term Incentive Plan as part of her on-hire remuneration arrangements:

 
 292,683 Performance shares - vesting date 30 September 
  2019 
  This on-hire award, in the form of a conditional 
  right to an award of shares, will vest on this 
  date subject to Ms Bell's continuing employment 
  with the Company and the achievement of key financial 
  performance conditions to 31 December 2018. 
 
  These performance conditions match those applied 
  to the 2016 LTIP award granted to Eric Hutchinson 
  (as disclosed on page 57 of the Report on Directors' 
  Remuneration in the Company's Annual Report 2015). 
------------------------------------------------------- 
 268,293 Performance shares - vesting date 5 March 
  2018 
  This award, in the form of a conditional right 
  to an award of shares, will vest on this date 
  subject to Ms Bell's continuing employment with 
  the Company and the achievement of key financial 
  performance conditions to 31 December 2017. The 
  value of this award was calculated at the time 
  of Ms Bell's contractual negotiations based on 
  the value of an existing award at her then-employer. 
 
  These performance conditions are based on those 
  applied to the 2016 LTIP award granted to Eric 
  Hutchinson (as disclosed on page 57 of the Report 
  on Directors' Remuneration in the Company's Annual 
  Report 2015) but have been adjusted to reflect 
  the shorter performance period. 
------------------------------------------------------- 
 

All awards are subject to malus and clawback provisions.

The notifications below are made in accordance with the requirements of the EU Market Abuse Regulation.

 
 1.   Details of PDMR / person closely associated 
---  --------------------------------------------------------------- 
      Name                            Paula Bell 
---  ------------------------------  ------------------------------- 
 2.   Reason for the notification 
---  --------------------------------------------------------------- 
 a)   Position / status               Chief Financial Officer 
---  ------------------------------  ------------------------------- 
 b)   Initial notification            Initial notification 
       / amendment 
---  ------------------------------  ------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------- 
 a)   Full name of the                Spirent Communications plc 
       entity 
---  ------------------------------  ------------------------------- 
 b)   Legal Entity Identifier         213800HKCUNWP1916L38 
       Code 
---  ------------------------------  ------------------------------- 
 4.   Details of the transaction(s) 
---  --------------------------------------------------------------- 
 a)   Description of                  Ordinary shares of 3 1/3 pence 
       the financial instrument        each 
 
       Identification 
       code                            GB0004726096 
---  ------------------------------  ------------------------------- 
 b)   Nature of the transaction       Grant of awards under the 
                                       Long-term Incentive Plan at 
                                       nil cost 
---  ------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)           Price(s)    Volume(s) 
                                       ----------  ---------- 
                                        GBPnil      292,683 
                                       ----------  ---------- 
---  ------------------------------  ------------------------------- 
 d)        Aggregated information 
 
             *    Aggregated volume     292,683 
 
                                        GBPnil 
 
             *    price 
---  ------------------------------  ------------------------------- 
 e)   Date of the transaction         30 September 2016 
---  ------------------------------  ------------------------------- 
 f)   Place of the transaction        n/a 
---  ------------------------------  ------------------------------- 
 
 
 1.   Details of PDMR / person closely associated 
---  --------------------------------------------------------------- 
      Name                            Paula Bell 
---  ------------------------------  ------------------------------- 
 2.   Reason for the notification 
---  --------------------------------------------------------------- 
 a)   Position / status               Chief Financial Officer 
---  ------------------------------  ------------------------------- 
 b)   Initial notification            Initial notification 
       / amendment 
---  ------------------------------  ------------------------------- 
 3.   Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  --------------------------------------------------------------- 
 a)   Full name of the                Spirent Communications plc 
       entity 
---  ------------------------------  ------------------------------- 
 b)   Legal Entity Identifier         213800HKCUNWP1916L38 
       Code 
---  ------------------------------  ------------------------------- 
 4.   Details of the transaction(s) 
---  --------------------------------------------------------------- 
 a)   Description of                  Ordinary shares of 3 1/3 pence 
       the financial instrument        each 
 
       Identification 
       code                            GB0004726096 
---  ------------------------------  ------------------------------- 
 b)   Nature of the transaction       Grant of awards under the 
                                       Long-term Incentive Plan at 
                                       nil cost 
---  ------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)           Price(s)    Volume(s) 
                                       ----------  ---------- 
                                        GBPnil      268,293 
                                       ----------  ---------- 
---  ------------------------------  ------------------------------- 
 d)        Aggregated information 
 
             *    Aggregated volume     268,293 
 
                                        GBPnil 
 
             *    price 
---  ------------------------------  ------------------------------- 
 e)   Date of the transaction         30 September 2016 
---  ------------------------------  ------------------------------- 
 f)   Place of the transaction        n/a 
---  ------------------------------  ------------------------------- 
 

Following these awards, Ms Bell has options over 560,976 shares in the Company. She currently owns no Ordinary shares in the Company.

Enquiries

   Angus Iveson                          Spirent Communications plc              [phone] 

Company Secretary

This information is provided by RNS

The company news service from the London Stock Exchange

END

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October 03, 2016 10:49 ET (14:49 GMT)