Spirent Communications PLC Director/PDMR Shareholding (7964C)
19 Giugno 2019 - 3:36PM
UK Regulatory
TIDMSPT
RNS Number : 7964C
Spirent Communications PLC
19 June 2019
SPIRENT COMMUNICATIONS PLC (the "Company")
19 June 2019
DIRECTOR / PDMR SHAREHOLDING: Vesting and Exercise of
Performance Share Awards and Restricted Stock Awards under Spirent
Long-Term Incentive Plan
Performance Share Awards
The Company confirms that on 16 June 2019 the performance
conditions attached to 781,758 Performance Shares awarded to Eric
Hutchinson on 16 June 2016 were tested, with the following
results:
50% of awards subject to EPS performance condition 78.625% vest
50% of awards subject to TSR performance condition 100% vest
As a result, 698,207 shares vested and became exercisable by Mr
Hutchinson. Performance Shares forming part of this award which did
not vest have now lapsed.
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 these awards, the following
transactions have taken place:
1. Details of PDMR / person closely associated
Name Eric Hutchinson
------------------------------ ------------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------
a) Position / status PDMR
------------------------------ ------------------------------------------
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
------------------------------ ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.0000 698,20
------------ ----------
(ii) GBP1.51326 698,207
------------ ----------
------------------------------ ------------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
* price
------------------------------ ------------------------------------------
e) Date of the transaction 18 June 2019
------------------------------ ------------------------------------------
f) Place of the transaction (i) Outside a trading venue
(ii) London
------------------------------ ------------------------------------------
Restricted Stock Awards
The Company confirms that on 16 June 2019 the performance
conditions attached to Restricted Stock Awards awarded on 16 June
2016 to a number of senior employees were tested, with the result
that the following awards to PDMRs 100% vested:
Angus Iveson 54,723
James Klaassen 58,510
Bill Mortimer 95,104
Nigel Wright 187,922
Awards of Restricted Stock 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 these awards, the following
transactions have taken place:
1. Details of PDMR / person closely associated
Name Angus Iveson
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a) Position / status Company Secretary & General Counsel
------------------------------ ---------------------------------------------
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 54,723
------------ ----------
(ii) GBP1.51326
------------ ----------
------------------------------ ---------------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
* price
------------------------------ ---------------------------------------------
e) Date of the transaction 18 June 2019
------------------------------ ---------------------------------------------
f) Place of the transaction (i) Outside a trading venue
(ii) London
------------------------------ ---------------------------------------------
1. Details of PDMR / person closely associated
Name James Klaassen
------------------------------ ------------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------
a) Position / status VP, Operations
------------------------------ ------------------------------------------
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
------------------------------ ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.0000 58,510
------------ ----------
(ii) GBP1.51326 58,510
------------ ----------
------------------------------ ------------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
* price
------------------------------ ------------------------------------------
e) Date of the transaction 18 June 2019
------------------------------ ------------------------------------------
f) Place of the transaction (i) Outside a trading venue
(ii) London
------------------------------ ------------------------------------------
1. Details of PDMR / person closely associated
Name Bill Mortimer
------------------------------ ------------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------
a) Position / status EVP, Strategic Marketing
------------------------------ ------------------------------------------
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
------------------------------ ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.0000 95,104
------------ ----------
(ii) GBP1.51326 95,104
------------ ----------
------------------------------ ------------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
* price
------------------------------ ------------------------------------------
e) Date of the transaction 18 June 2019
------------------------------ ------------------------------------------
f) Place of the transaction (i) Outside a trading venue
(ii) London
------------------------------ ------------------------------------------
1. Details of PDMR / person closely associated
Name Nigel Wright
------------------------------ ------------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------
a) Position / status EVP, Global Sales
------------------------------ ------------------------------------------
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
------------------------------ ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.0000 187,922
------------ ----------
(ii) GBP1.51326 187,922
------------ ----------
------------------------------ ------------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
* price
------------------------------ ------------------------------------------
e) Date of the transaction 18 June 2019
------------------------------ ------------------------------------------
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 number Total number of shares
of over which options held
shares held
Eric Hutchinson 1,682,129 1,058,296
------------- -------------------------
Angus Iveson 42,021 179,666
------------- -------------------------
James Klaassen 0 109,346
------------- -------------------------
Bill Mortimer 0 193,596
------------- -------------------------
Nigel Wright 14,666 370,564
------------- -------------------------
Enquiries
Michelle Balch Spirent Communications plc +44 (0)1293 767676
Deputy Company Secretary
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END
DSHCKCDBNBKDCAD
(END) Dow Jones Newswires
June 19, 2019 09:36 ET (13:36 GMT)
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