Director/PDMR Shareholding REPLACEMENT
Updated : 13:08
SPIRENT COMMUNICATIONS PLC (the "Company")
20 June 2019
The following amendment has been made to the 'Director / PDMR Shareholding' announcement released on 19 June 2019 at 14:36 under RNS No 7964C:
Angus Iveson
Number of shares sold in market to cover tax and national insurance liabilities = 25,811
All other details remain unchanged.
The full amended text is shown below.
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) |
| |||||||||
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) |
| |||||||||
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) |
| |||||||||
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) |
| |||||||||
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) |
| |||||||||
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
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