Spirent Communications PLC Director/PDMR Shareholding (5485L)
04 October 2016 - 1:49AM
UK Regulatory
TIDMSPT
RNS Number : 5485L
Spirent Communications PLC
03 October 2016
SPIRENT COMMUNICATIONS PLC
(the "Company")
3 October 2016
DIRECTOR / PDMR SHAREHOLDING
The Board is pleased to confirm that Paula Bell joined the
Company as Chief Financial Officer on 5 September 2016.
On 30 September 2016, the Company's Remuneration Committee
approved the following awards of Performance shares to Ms Bell
under the Company's Long-Term Incentive Plan as part of her on-hire
remuneration arrangements:
292,683 Performance shares - vesting date 30 September
2019
This on-hire award, in the form of a conditional
right to an award of shares, will vest on this
date subject to Ms Bell's continuing employment
with the Company and the achievement of key financial
performance conditions to 31 December 2018.
These performance conditions match those applied
to the 2016 LTIP award granted to Eric Hutchinson
(as disclosed on page 57 of the Report on Directors'
Remuneration in the Company's Annual Report 2015).
-------------------------------------------------------
268,293 Performance shares - vesting date 5 March
2018
This award, in the form of a conditional right
to an award of shares, will vest on this date
subject to Ms Bell's continuing employment with
the Company and the achievement of key financial
performance conditions to 31 December 2017. The
value of this award was calculated at the time
of Ms Bell's contractual negotiations based on
the value of an existing award at her then-employer.
These performance conditions are based on those
applied to the 2016 LTIP award granted to Eric
Hutchinson (as disclosed on page 57 of the Report
on Directors' Remuneration in the Company's Annual
Report 2015) but have been adjusted to reflect
the shorter performance period.
-------------------------------------------------------
All awards are subject to malus and clawback provisions.
The notifications below are made in accordance with the
requirements of the EU Market Abuse Regulation.
1. Details of PDMR / person closely associated
--- ---------------------------------------------------------------
Name Paula Bell
--- ------------------------------ -------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------
a) Position / status Chief Financial Officer
--- ------------------------------ -------------------------------
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 Spirent Communications plc
entity
--- ------------------------------ -------------------------------
b) Legal Entity Identifier 213800HKCUNWP1916L38
Code
--- ------------------------------ -------------------------------
4. Details of the transaction(s)
--- ---------------------------------------------------------------
a) Description of Ordinary shares of 3 1/3 pence
the financial instrument each
Identification
code GB0004726096
--- ------------------------------ -------------------------------
b) Nature of the transaction Grant of awards under the
Long-term Incentive Plan at
nil cost
--- ------------------------------ -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
GBPnil 292,683
---------- ----------
--- ------------------------------ -------------------------------
d) Aggregated information
* Aggregated volume 292,683
GBPnil
* price
--- ------------------------------ -------------------------------
e) Date of the transaction 30 September 2016
--- ------------------------------ -------------------------------
f) Place of the transaction n/a
--- ------------------------------ -------------------------------
1. Details of PDMR / person closely associated
--- ---------------------------------------------------------------
Name Paula Bell
--- ------------------------------ -------------------------------
2. Reason for the notification
--- ---------------------------------------------------------------
a) Position / status Chief Financial Officer
--- ------------------------------ -------------------------------
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 Spirent Communications plc
entity
--- ------------------------------ -------------------------------
b) Legal Entity Identifier 213800HKCUNWP1916L38
Code
--- ------------------------------ -------------------------------
4. Details of the transaction(s)
--- ---------------------------------------------------------------
a) Description of Ordinary shares of 3 1/3 pence
the financial instrument each
Identification
code GB0004726096
--- ------------------------------ -------------------------------
b) Nature of the transaction Grant of awards under the
Long-term Incentive Plan at
nil cost
--- ------------------------------ -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
GBPnil 268,293
---------- ----------
--- ------------------------------ -------------------------------
d) Aggregated information
* Aggregated volume 268,293
GBPnil
* price
--- ------------------------------ -------------------------------
e) Date of the transaction 30 September 2016
--- ------------------------------ -------------------------------
f) Place of the transaction n/a
--- ------------------------------ -------------------------------
Following these awards, Ms Bell has options over 560,976 shares
in the Company. She currently owns no Ordinary shares in the
Company.
Enquiries
Angus Iveson Spirent Communications plc +44 (0)1293 767676
Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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