Spirent Communications PLC Director/PDMR Shareholding (0960A)

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RNS Number : 0960A

Spirent Communications PLC

27 May 2021

SPIRENT COMMUNICATIONS PLC (the "Company")

27 May 2021

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

The Company confirms that on 22 May 2021 the performance conditions attached to 302,402 Performance Shares awarded to Paula Bell on 22 May 2018 were tested, with the following results:

   50% of award subject to EPS performance condition           100% vest 
   50% of award subject to TSR performance condition           100% vest 

As a result, 302,402 shares vested and became exercisable by Ms Bell.

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 this award, 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            Initial notification 
       / amendment 
     ------------------------------  --------------------------------------------- 
 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         213800HKCUNWP1916L38 
       Code 
     ------------------------------  --------------------------------------------- 
 4.   Details of the transaction(s) 
     ----------------------------------------------------------------------------- 
 a)   Description of the financial    Ordinary shares of 3&1/3 pence each 
       instrument 
 
       Identification code             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      302,402 
                                               -------------  ---------- 
                                        (ii)    GBP2.462952    143,808 
                                               -------------  ---------- 
     ------------------------------  --------------------------------------------- 
 d)        Aggregated information 
 
             *    Aggregated volume     n/a 
 
                                        n/a 
 
             *    price 
     ------------------------------  --------------------------------------------- 
 e)   Date of the transaction         (i) 24 May 2021 
                                       (ii) 26 May 2021 
     ------------------------------  --------------------------------------------- 
 f)   Place of the transaction        (iii) Outside a trading venue 
                                       (iv) London 
     ------------------------------  --------------------------------------------- 
 

Following this notification, the individuals listed above hold options over the following total number of shares:

 
 Director / PDMR    Total beneficial     Total number of shares 
                         interest in    over which options held 
                              shares 
 Paula Bell                  522,905                    828,647 
                   -----------------  ------------------------- 
 

Enquiries

Michelle Balch Spirent Communications plc [phone]

Deputy Company Secretary

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May 27, 2021 11:46 ET (15:46 GMT)