Spirent Communications (LON:SPT)

Spirent Communications (LON:SPT)


Share Price
162.56 p
Change
0.36 (0.22 %)
Market Cap
£10.01 m
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Spirent Communications RNS Release

Director/PDMR Shareholding


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 / 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

 

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

 

-     price

 

 

 

n/a

 

n/a

 

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 / 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)


Price(s)

Volume(s)

(i)

GBP0.0000

 

54,723

(ii)

GBP1.51326

 


d)

Aggregated information

 

-     Aggregated volume

 

-     price

 

 

 

n/a

 

n/a

 

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 / 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

 

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

 

-     price

 

 

 

n/a

 

n/a

 

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 / 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

 

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

 

-     price

 

 

 

n/a

 

n/a

 

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 / 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

 

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

 

-     price

 

 

 

n/a

 

n/a

 

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 of

shares held

Total number of shares

over which options 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

 


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 [email protected] or visit www.rns.com.
 
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