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9 May 2024 14:00
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 RelationsClaire KaneDirector of Investor Relations+44 20 7672 1758
NatWest Group Media Relations
+44(0)131 523 4205
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