Director/PDMR Shareholding

RNS Number : 1791H

Royal Bank of Scotland Group PLC

08 March 2018

 

8 March 2018

The Royal Bank of Scotland Group plc

Legal Entity Identifier: 2138005O9XJIJN4JPN90

INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs") IN ACCORDANCE WITH ARTICLE 19 OF THE EU MARKET ABUSE REGULATION 596/2014

1.   The Royal Bank of Scotland Group plc (the "Company") announces that conditional deferred awards over ordinary shares of £1 each in the Company ("Shares") (ISIN: GB00B7T77214) vested on 7 March 2018 to the PDMRs set out below. The conditional deferred awards were granted under the RBS 2014 Employee Share Plan between March 2015 and March 2017. The number of Shares withheld to meet associated tax liabilities arising on vesting and the number of vested Shares retained by each PDMR is set out below:-

Name of PDMR	Position of PDMR	No. of Shares vested	No. of Shares withheld to satisfy associated tax liability	No. of vested Shares retained
Mark Bailie	Chief Operating Officer	118,314	55,608	62,706
Helen Cook	Chief HR Officer	34,143	16,049	18,094
Chris Marks	CEO, NatWest Markets	118,314	55,608	62,706

The above transactions took place outside of a trading venue.  The market price used to determine the number of Shares withheld to meet associated tax liabilities was £2.61.  Vested Shares retained after payment of associated tax liabilities will be subject to a six month retention period.

2.   The Company announces that conditional long term incentive awards over Shares have been granted on 7 March 2018 under the RBS 2014 Employee Share Plan to the PDMRs set out below.  The awards were subject to a pre-grant performance assessment and a further performance assessment will take place at the end of three years. Subject to this pre-vest assessment, awards will be eligible to vest between years 2021 and 2025.  Malus provisions will apply up until vest and clawback provisions will apply for a period of seven years from the date of grant, extended to ten years if events are under investigation at the end of the seven year period. 

Name of PDMR	Position of PDMR	Maximum no. of Shares eligible to vest
Mark Bailie	Chief Operating Officer	507,710
Helen Cook	Chief HR Officer	225,649
Chris Marks	CEO, NatWest Markets	564,122
Les Matheson	CEO, Personal & Business Banking	394,886
Ross McEwan	Chief Executive	592,328
Simon McNamara	Chief Administrative Officer	394,886
Alison Rose	CEO, Commercial & Private Banking	488,906
Ewen Stevenson	Chief Financial Officer	541,557
David Wheldon	Chief Marketing Officer	206,845

The above transactions took place outside of a trading venue.  The market price per Share used on the grant of the above awards was £2.659.  Vested Shares retained after payment of associated tax liabilities will be subject to a twelve month retention period.

3. The Company also announces that it was notified on 6 March 2018 that Frank Dangeard, Non-executive director, purchased 5,000 Shares on that date at a price of £2.626 per Share.  The transaction took place on the London Stock Exchange (XLON). 

4.   The Company also announces that it was notified on 8 March 2018 that Les Matheson, CEO, Personal & Business Banking, sold 107,372 Shares on that date at a price of £2.617 per Share.  The transaction took place on the London Stock Exchange (XLON). 

For further information contact:-

RBS Investor Relations
Alexander Holcroft
Head of Equity Investor Relations
[phone]

RBS Media Relations  

[phone]

 

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