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Spirent Communications PLC — Director's Dealing 2019
Jun 20, 2019
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Director's Dealing
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RNS Number : 9263C
Spirent Communications PLC
20 June 2019
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)
| 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 | 25,811 |
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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