NWG.L

NatWest Group plc
NatWest Group plc - Director/PDMR Shareholding
8th August 2024, 15:00
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RNS Number : 7883Z
NatWest Group plc
08 August 2024
 

8 August 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 ordinary shares of £1.0769* each in the Company (Shares) (ISIN:GB00BM8PJY71) were delivered to PDMRs on 7 August 2024 under the NatWest Group 2024 Employee Share Plan (the Plan), as set out below. 

 

The Shares delivered represent payment of a fixed share allowance for the three month period ending 30 September 2024 and have been calculated using a Share price of £3.4424.

 

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 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

26,327

13,184

13,143

Emma Crystal

CEO, Coutts and Wealth Businesses

19,972

9,401

10,571

Keiran Foad

Group Chief Risk Officer

29,958

14,102

15,856

David Lindberg

CEO, Retail Banking

26,327

12,393

13,934

Scott Marcar

Group Chief Information Officer

29,958

14,102

15,856

Katie Murray

Group Chief Financial Officer

57,224

26,936

30,288

Paul Thwaite

Group Chief Executive Officer

83,929

39,506

44,423

Jen Tippin

Group Chief Operating Officer

29,958

14,102

15,856

 

The market price used to determine the number of Shares withheld to meet associated tax liabilities was £3.3248. 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.

   

2.  The Company announces that on 7 August 2024, a conditional Buy-out award and Deferred award (Awards) over Shares have been granted under the Plan to the PDMR set out below in order to replace awards forfeited on leaving their previous employer.

           

 Name of PDMR

Position of PDMR

Award

No. of Shares granted

Emma Crystal

CEO, Coutts and Wealth Businesses

Buy-out1

Award

144,430

Deferred Award2

269,810

The prices per Share used on the grant of the above awards were £3.12361 and £2.52032.  This represents the 5-day average Share price immediately prior to the PDMR joining the Company. For the Deferred award this price is discounted to reflect the absence of dividend equivalents during the vesting period.

 

The Awards are eligible to vest between 2024 and 2031 and are subject to malus, clawback and where applicable a 12-month retention period.

 

3.  The Company announces that on 7 August 2024, a conditional Buy-out award over Shares vested to the PDMR set out below. The number of Shares withheld to meet associated tax liabilities arising on vesting and the number of vested Shares retained by the 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

Emma Crystal

CEO, Coutts and Wealth Businesses

83,371

39,244

44,127

 

The market price used to determine the number of Shares withheld to meet associated tax liabilities was £3.3248.

 

 

 

4.  The Company announces that the PDMR set out below has sold Shares on the date and at the price indicated:

Name of PDMR

Position of PDMR

No. of Shares sold

Sale price

 

Date of transaction

Jen Tippin

Group Chief Operating Officer

43,000

3.3269

7 August 2024

 

All of the above transactions took place on the London Stock Exchange (XLON).

 

* Note: the nominal value of ordinary shares without rounding is £1.076923076923077 per share 

 

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

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