Last checked at 27 May 2021 16:46
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 / 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
| (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 interest in shares | Total number of shares over which options held |
Paula Bell | 522,905 | 828,647 |
Enquiries
Michelle Balch Spirent Communications plc +44 (0)1293 767676
Deputy Company Secretary