Director/PDMR Shareholding

NatWest Group plc
09 November 2023
 

9 November 2023

 

NatWest Group plc

 

INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMRs) in accordance with Article 19 of the Market Abuse Regulation

 

1.  NatWest Group plc (the Company) announces that ordinary shares of £1.0769* each in the Company (Shares) (ISIN:GB00BM8PJY71) were delivered to PDMRs on 7 November under the NatWest Group 2014 Employee Share Plan (Plan), as set out below. 

 

The Shares delivered represent payment of a fixed share allowance for the three month period ending 31 December 2023 and have been calculated using a Share price of £1.8025.

 

The number of Shares delivered, the number of Shares withheld to meet associated tax liabilities and the number of Shares retained by each PDMR is as follows:-

 

Name of PDMR

Position of PDMR

No. of Shares delivered

 

No. of Shares withheld to satisfy associated tax liability

 

No. of Shares retained

 

Robert Begbie

 

CEO, Commercial & Institutional Non Ring-Fenced Bank, Interim CEO, Commercial & Institutional Ring-Fenced Bank, and CEO, NatWest Markets

20,805

10,210

10,595

Keiran Foad

Group Chief Risk Officer

57,213

26,931

30,282

 

David Lindberg

 

CEO, Retail Banking

45,077

21,219

23,858

Scott Marcar

 

Group Chief Information Officer

 

57,213

26,931

30,282

Katie Murray

 

Group Chief Financial Officer

 

109,286

51,442

57,844

Paul Thwaite

 

Group Chief Executive Officer

 

145,632

68,550

77,082

Jen Tippin

 

Group Chief People & Transformation Officer

 

57,213

26,931

30,282

* Note: the nominal value of ordinary shares without rounding is £1.076923076923077 per share

The market price used to determine the number of Shares withheld to meet associated tax liabilities was £1.9555. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs and will be released in instalments over a three or five year period.

 

2.  The Company announces that on 7 November 2023, a conditional Buy-out award (Award) was granted under the Plan to the PDMR set out below in order to replace awards forfeited on leaving their previous employer.

 

Name of PDMR

Position of PDMR

Award price

No. of Shares granted

Keiran Foad

Group Chief Risk Officer

£2.63921

386,086

1. The Award price has been calculated using a 5 day average Share price taken immediately prior to the PDMR joining the Group.

 

Mr Foad's Awards are eligible to vest between 2023 and 2028. The Awards are subject to malus and clawback provisions, where applicable.

 

3. The Company announces that on 7 November 2023, a conditional buy-out over Shares vested to the PDMR set out below. The number of Shares withheld to meet associated tax liabilities arising on vesting and the number of vested Shares retained by the PDMR is set out below:-

 

Name of PDMR

Position of PDMR

Award

No. of Shares vested

No. of Shares withheld to satisfy associated tax liability

No. of vested Shares retained

Keiran Foad

Group Chief Risk Officer

Buy-out

12,234

5,759

6,475

 

The market price used to determine the number of Shares withheld to meet associated tax liabilities was £1.9555.

 

Vested Shares retained after payment of associated tax liabilities will, where applicable, be subject to retention periods which mirror the retention periods applicable to the PDMR's original awards from their previous employer.  

 

The above transactions took place on the London Stock Exchange (XLON).

 

Legal Entity Identifier: 2138005O9XJIJN4JPN90

 

For further information contact:-

 

NatWest Group Investor Relations
Alexander Holcroft

Head of Investor Relations
+44(0)20 7672 1758

 

NatWest Group Media Relations 

+44(0)131 523 4205

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