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8 Jun 2023 15:00
8 June 2023
NatWest Group plc
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMRs) IN ACCORDANCE WITH ARTICLE 19 OF THE MARKET ABUSE REGULATION
NatWest Group plc (the Company) announces that deferred awards (Deferred Awards) over ordinary shares of £1.0769* each in the Company (Shares) (ISIN: GB00BM8PJY71) vested on 7 June 2023, under the NatWest Group plc 2014 Employee Share Plan (the Plan), to the PDMRs set out below. The awards were granted under the Plan on 7 March 2023.
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 |
Robert Begbie |
CEO, NatWest Markets
| 65,810 | 32,296 | 33,514 |
Peter Flavel |
CEO, Wealth Businesses
| 52,858 | 24,881 | 27,977 |
Oliver Holbourn1 | CEO, RBS International | 58,320 | - | 58,320 |
David Lindberg | CEO, Retail Banking | 85,642 | 40,313 | 45,329 |
Scott Marcar |
Group Chief Information Officer
| 98,929 | 46,567 | 52,362 |
Andrew McLaughlin |
CEO, Commercial & Institutional (non-ring-fenced bank)
| 54,196 | 24,425 | 29,771 |
Katie Murray | Group Chief Financial Officer | 73,596 | 34,643 | 38,953 |
Alison Rose
|
Group Chief Executive Officer
| 113,820 | 53,576 | 60,244 |
John-Paul Thwaite
| CEO, Commercial & Institutional (ring-fenced bank)
| 63,764 | 30,015 | 33,749 |
Jen Tippin |
Chief People & Transformation Officer
| 101,720 | 47,881 | 53,839 |
1. The award was granted when the PDMR was resident in Jersey and therefore is taxable in Jersey only and not in the UK. No employer tax withholding is required under Jersey law. The Jersey income tax payable in respect of the vesting of the award will be paid by the PDMR directly to the Jersey tax authority. | ||||
* Note: the nominal value of ordinary shares without rounding is £1.076923076923077 per share
The market price used to meet associated tax liabilities was £2.5972.
Vested Shares retained after payment of associated tax liabilities will be subject to a twelve-month retention 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 RelationsAlexander HolcroftHead of Investor Relations+44 20 7672 1758
NatWest Group Media Relations
+44(0)131 523 4205
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