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10 Nov 2022 15:53
10 November 2022
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 2022, under the NatWest Group 2014 Employee Share Plan (the Plan), as set out below.
The Shares delivered represent payment of a fixed share allowance (FSA) for the three month period ending 31 December 2022 and have been calculated using a Share price of £2.3316.
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 Markets | 16,084 | 7,732 | 8,352 |
Peter Flavel
|
CEO, Wealth Businesses | 26,806 | 12,618 | 14,188 |
Bruce Fletcher |
Chief Risk Officer, NatWest Group
| 35,920 | 16,908 | 19,012 |
David Lindberg
|
CEO, Retail Banking | 34,848 | 16,404 | 18,444 |
Scott Marcar |
Chief Information Officer
| 57,633 | 27,129 | 30,504 |
Andrew McLaughlin
|
CEO, Commercial & Institutional for the non-ring-fenced bank
| 2,145 | 1,010 | 1,135 |
Katie Murray |
Chief Financial Officer
| 82,026 | 38,611 | 43,4151 |
Alison Rose
|
Chief Executive Officer
| 120,304 | 56,628 | 63,6761 |
John-Paul Thwaite |
CEO, Commercial & Institutional for the ring-fenced bank
| 33,508 | 15,773 | 17,735 |
Jen Tippin |
Chief People & Transformation Officer
| 44,230 | 20,820 | 23,410 |
1. The shares will be released in instalments over a five year period. | ||||
* 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 £2.3812. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs in the Computershare Share Plan Account and will be released in instalments over a three year period, unless otherwise indicated above.
2. The Company also announces that it has been notified of the PDMR set out below selling Shares on the date and at the price indicated:
Name of PDMR | Position of PDMR | No. of Shares sold | Price of Shares sold
| Date Shares sold |
Alison Rose |
Chief Executive Officer
|
250,000 |
£2.3910 |
10 November 2022 |
3. The Company also announces that on 7 November 2022, a conditional Buy-out award (Award) was granted under the Plan to the PDMR set out below in order to replace awards forfeited by the individual on leaving their previous employer.
Name of PDMR | Position of PDMR | Award price | No. of Shares granted |
Scott Marcar | Chief Information Officer | £2.61692 | 581,681
|
2. The Award price has been calculated using a 5 day average Share price taken immediately prior to the PDMR joining the Company. | |||
The above transactions took place on the London Stock Exchange (XLON).
Legal Entity Identifier: 2138005O9XJIJN4JPN90
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
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