TIDMSPT

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 
 
     - price                        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  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 09:43 ET (13:43 GMT)

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