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