Director/PDMR Shareholding

NatWest Group plc
09 May 2024
 

9 May 2024

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 Sharing in Success awards (SiS), over ordinary shares of £1.0769* each in the Company (Shares) (ISIN: GB00BM8PJY71) were granted on 8 May 2024 under the NatWest Group plc 2024 Employee Share Plan (the Plan) and immediately vested. The market price per Share used on the grant of the above awards was £3.0380.

 

The number of Shares vested, 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

Award

No. of Shares vested

No. of Shares withheld to satisfy associated tax liability

 

No. of vested Shares retained

Robert Begbie

CEO, NatWest Commercial & Institutional and CEO NatWest Markets

 

SiS

 

330

166

164

Keiran Foad

Group Chief Risk Officer

SiS

330

156

174

David Lindberg

CEO, Retail Banking

SiS

330

156

174

Scott Marcar

Group Chief Information Officer

SiS

330

156

174

 

Katie Murray

 

Group Chief Financial Officer

SiS

330

156

174

Mohammad Kamal Syed

Interim CEO, Coutts and Wealth Businesses

SiS

330

156

174

 

Paul Thwaite

Group Chief Executive Officer

SiS

330

156

174

 

Jen Tippin

Group Chief Operating Officer

SiS

330

156

174

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

 

The market price used to meet associated tax liabilities was £3.1241. 

 

Clawback provisions will apply for a period of seven years from the date of grant, extended to ten years, for relevant PDMRs, if events are under investigation at the end of the seven year period.

 

Vested Shares retained after payment of associated tax liabilities will be subject to a twelve-month retention period. 

   

2.  The Company announces that Shares were delivered to PDMRs on 8 May 2024, as set out below. The Shares delivered represent payment of a fixed share allowance for the three-month period ending 30 June 2024 and have been calculated using a share price of £3.0380.

 

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, NatWest Commercial & Institutional and CEO NatWest Markets

27,181

13,611

13,570

Keiran Foad

Group Chief Risk Officer

33,946

15,979

17,967

David Lindberg

CEO, Retail Banking

29,363

13,822

15,541

Scott Marcar

Group Chief Information Officer

33,946

15,979

17,967

Katie Murray

Group Chief Financial Officer

64,842

30,522

34,320

Paul Thwaite

Group Chief Executive Officer

95,101

44,765

50,336

Jen Tippin

Group Chief Operating Officer

33,946

15,979

17,967

 

The market price used to determine the number of Shares withheld to meet associated tax liabilities was £3.1241. 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.

 

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

 

Legal Entity Identifier: 2138005O9XJIJN4JPN90

For further information contact:

NatWest Group Investor Relations
Claire Kane
Director of Investor Relations
+44 20 7672 1758

 

NatWest Group Media Relations 

+44(0)131 523 4205

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