5th May 2020 12:38
SPIRENT COMMUNICATIONS PLC (the "Company")
5 May 2020
DIRECTOR / PDMR SHAREHOLDING: Vesting and Exercise of Performance Share Awards under Spirent Long-Term Incentive Plan
The Company confirms that on 4 May 2020 the performance conditions attached to 279,661 Performance Shares awarded to Paula Bell on 4 May 2017 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, 279,661 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 / 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) |
| |||||||||
d) | Aggregated information
- Aggregated volume
- price
|
n/a
n/a
| |||||||||
e) | Date of the transaction
| 4 May 2020 | |||||||||
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 | 513,596 | 637,905 |
Enquiries
Michelle Balch Spirent Communications plc +44 (0)1293 767676
Deputy Company Secretary
Related Shares:
Spirent