Director/PDMR Shareholding

RNS Number : 4744S

Spirent Communications PLC

09 March 2023

 

SPIRENT COMMUNICATIONS PLC (the "Company")

9 March 2023

DIRECTOR / PDMR SHAREHOLDING

Vesting and Exercise of Restricted Stock Awards under Spirent Deferred Bonus Plan

The Company confirms that on 8 March 2023 the following awards vested and became exercisable:

Eric Updyke  90,484 shares (including dividend equivalents)

Paula Bell  63,963 shares (including dividend equivalents)

Awards of Restricted Stock under the Spirent Deferred Bonus Plan are not tax approved and income tax and social security deductions become payable by the individual on vesting; both Mr Updyke and Ms Bell sold sufficient vested shares to settle these liabilities.

Details of both the vesting and the sale to cover tax liabilities are set out below.

1.	Details of PDMR / person closely associated
	Name	Eric Updyke
2.	Reason for the notification
a)	Position / status	CEO
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 Deferred Bonus 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) GBP0.00 90,484 (ii) GBP1.8363 35,732
d)	Aggregated information -  Aggregated volume -  price	n/a n/a
e)	Date of the transaction	8 March 2023
f)	Place of the transaction	(i)  Outside a trading venue (ii)  London

1.	Details of PDMR / person closely associated
	Name	Paula Bell
2.	Reason for the notification
a)	Position / status	CFO
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 Deferred Bonus 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) GBP0.00 63,963 (ii) GBP1.8363 30,169
d)	Aggregated information -  Aggregated volume -  price	n/a n/a
e)	Date of the transaction	8 March 2023
f)	Place of the transaction	(i)  Outside a trading venue (ii)  London

Following these transactions, these individuals held the following total beneficial interests in shares and outstanding awards:

Director / PDMR	Total beneficial interest in shares	Total number of shares over which options held
Eric Updyke1	697,229	1,523,868
Paula Bell	543,547	842,844

Note

1  The total beneficial interest in shares reported for Eric Updyke in May 2022 contained a calculation error which was identified during the Company's internal review at year end.  This error has now been corrected and the data represented here is the current position following this transaction.

Enquiries

Michelle Balch  Spirent Communications plc  [phone]

Deputy Company Secretary

 

END

 

 

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