Spirent Communications PLC Director/PDMR Shareholding (8068X)
May 06 2021 - 6:42AM
UK Regulatory
TIDMSPT
RNS Number : 8068X
Spirent Communications PLC
06 May 2021
SPIRENT COMMUNICATIONS PLC (the "Company")
06 May 2021
DIRECTOR / PDMR SHAREHOLDING: Vesting and Exercise of Restricted
Stock Awards under Spirent Long-Term Incentive Plan
The Company confirms that its Remuneration Committee (the
"Committee") has considered the following performance conditions
attached to Restricted Stock Awards awarded on 1 April 2019 to Eric
Updyke:
- Mr Updyke's continuing to be employed with the Spirent
Communications plc Group at the date of vesting;
- Acceptable personal performance up to the date of vesting as determined by the Committee.
Following consideration of these performance conditions, the
Committee has agreed that the second tranche of the awards, in the
amount of 219,044 Restricted Stock Units, should vest at 100%.
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 this award, the following
transactions have taken place:
1. Details of PDMR / person closely associated
Name Eric Updyke
------------------------------ ---------------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------------
a) Position / status CEO
------------------------------ ---------------------------------------------
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 social security liabilities
------------------------------ ---------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
(i) GBP0.0000 219,044
----------- ----------
(ii) GBP2.5064 111,119
----------- ----------
------------------------------ ---------------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
* price
------------------------------ ---------------------------------------------
e) Date of the transaction 05 May 2021
------------------------------ ---------------------------------------------
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
Eric Updyke 224,274 1,728,122
----------------- -------------------------
Enquiries
Michelle Balch Spirent Communications plc +44 (0)1293 767676
Deputy Company Secretary
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END
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