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
[phone]

NatWest Group Media Relations 

[phone]

 

END