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RNS Number : 9933L

Spirent Communications PLC

05 May 2020

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            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    279,661 
                                               -----------  ---------- 
                                        (ii)    GBP2.3500    131,769 
                                               -----------  ---------- 
     ------------------------------  --------------------------------------------- 
 d)        Aggregated information 
 
             *    Aggregated volume     n/a 
 
                                        n/a 
 
             *    price 
     ------------------------------  --------------------------------------------- 
 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     Total number of shares 
                         interest in    over which options held 
                              shares 
 Paula Bell                  513,596                    637,905 
                   -----------------  -------------------------

Enquiries

Michelle Balch Spirent Communications plc +44 (0)1293 767676

Deputy Company Secretary

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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May 05, 2020 07:38 ET (11:38 GMT)

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