9th Mar 2023 12:22
SPIRENT COMMUNICATIONS PLC (the "Company")
9 March 2023
DIRECTOR / PDMR SHAREHOLDING
Vesting and Exercise of Restricted Stock Awards under Spirent Deferred Bonus Plan
The Company confirms that on 8 March 2023 the following awards vested and became exercisable:
Eric Updyke 90,484 shares (including dividend equivalents)
Paula Bell 63,963 shares (including dividend equivalents)
Awards of Restricted Stock under the Spirent Deferred Bonus Plan are not tax approved and income tax and social security deductions become payable by the individual on vesting; both Mr Updyke and Ms Bell sold sufficient vested shares to settle these liabilities.
Details of both the vesting and the sale to cover tax liabilities are set out below.
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 Deferred Bonus Plan at nil-cost (ii) Sale of shares in market to cover tax and social security liabilities | |||||||||
c) | Price(s) and volume(s) |
| |||||||||
d) | Aggregated information
- Aggregated volume
- price
|
n/a
n/a
| |||||||||
e) | Date of the transaction
| 8 March 2023 | |||||||||
f) | Place of the transaction
| (i) Outside a trading venue (ii) London | |||||||||
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 Deferred Bonus Plan at nil-cost (ii) Sale of shares in market to cover tax and national insurance liabilities | |||||||||
c) | Price(s) and volume(s) |
| |||||||||
d) | Aggregated information
- Aggregated volume
- price
|
n/a
n/a
| |||||||||
e) | Date of the transaction
| 8 March 2023 | |||||||||
f) | Place of the transaction
| (i) Outside a trading venue (ii) London | |||||||||
Following these transactions, these individuals held the following total beneficial interests in shares and outstanding awards:
Director / PDMR | Total beneficial interest in shares | Total number of shares over which options held |
Eric Updyke1 | 697,229 | 1,523,868 |
Paula Bell | 543,547 | 842,844 |
Note
1 The total beneficial interest in shares reported for Eric Updyke in May 2022 contained a calculation error which was identified during the Company's internal review at year end. This error has now been corrected and the data represented here is the current position following this transaction.
Enquiries
Michelle Balch Spirent Communications plc +44 (0)1293 767676
Deputy Company Secretary
Related Shares:
Spirent