Last checked at 12 Aug 2020 14:08
12 August 2020
NatWest Group plc
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMRs) in accordance with Article 19 of the EU Market Abuse Regulation 596/2014
1. NatWest Group plc (the Company) announces that ordinary shares of £1 each in the Company (Shares) (ISIN: GB00B7T77214) were delivered to PDMRs on 11 August 2020, as set out below.
The Shares delivered represent payment of a fixed share allowance (FSA) for the three month period ending 30 September 2020 and have been calculated using a share price of £1.1159.
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 |
Vanessa Bailey | Chief Risk Officer, NatWest Holdings | 56,009 | 26,364 | 29,645 |
Robert Begbie | CEO, NatWest Markets | 72,812 | 35,003 | 37,809 |
Helen Cook | Chief HR Officer | 27,445 | 12,919 | 14,526 |
Bruce Fletcher | Chief Risk Officer, NatWest Group | 67,211 | 31,637 | 35,574 |
Peter Flavel | CEO, Private Banking | 50,440 | 23,743 | 26,697 |
Les Matheson | CEO, Personal Banking | 67,211 | 32,310 | 34,901 |
Andrew McLaughlin1 | CEO, RBS International | 33,606 | - | 33,606 |
Simon McNamara | Chief Administrative Officer | 72,812 | 35,003 | 37,809 |
Katie Murray | Chief Financial Officer | 168,026 | 79,091 | 88,935 |
Alison Rose2 | Chief Executive Officer | 88,648 | 41,728 | 46,920 |
John Paul Thwaite
| CEO, Commercial Banking | 50,408 | 23,728 | 26,680 |
1. The FSA was delivered when Andrew McLaughlin 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. 2. Alison Rose has waived her entitlement to 25% of her total fixed pay for the period 9 April 2020 to 31 December 2020 and this is being effected through a reduction in the number of Shares she receives by way of FSA. | ||||
The above transactions took place on the London Stock Exchange (XLON). The market price used to determine the number of Shares withheld to meet associated tax liabilities was £1.1836. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs in the Computershare Retained Share Nominee account and will be released in instalments over a three year period.
Legal Entity Identifier:NatWest Group plc - 2138005O9XJIJN4JPN90NatWest Markets Plc - RR3QWICWWIPCS8A4S074NatWest Holdings Limited - 213800GDQMMREYFLQ454
For further information contact:-
NatWest Group Investor RelationsAlexander Holcroft
Head of Investor Relations+44(0)20 7672 1758
NatWest Group Media Relations
+44(0)131 523 4205