REG - NatWest Group plc - Director/PDMR Shareholding

NatwestAnnouncement

08/08/2024 16:00

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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-out(1)  144,430

                                                    Award
                 Deferred Award(2)                              269,810
 The prices per Share used on the grant of the above awards were £3.1236(1)
 and £2.5203(2.)  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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