REG - Royal Bk Scot.Grp. - Director/PDMR Shareholding <Origin Href="QuoteRef">RBS.L</Origin>

NatwestAnnouncement

08/03/2017 14:30

RNS Number : 8976Y
Royal Bank of Scotland Group PLC
08 March 2017
8 March 2017
The Royal Bank of Scotland Group plc
Legal Entity Identifier: 2138005O9XJIJN4JPN90
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs") IN ACCORDANCE WITH ARTICLE 19 OF THE EU MARKET ABUSE REGULATION 596/2014
1. The Royal Bank of Scotland Group plc (the "Company") announces that conditional deferred awards over ordinary shares of 1 each in the Company ("Shares") (ISIN: GB00B7T77214) vested on 7 March 2017 to the PDMRs set out below. The conditional deferred awards were granted under the RBS 2010 Deferral Plan in March 2014 and the RBS 2014 Employee Share Plan in March 2015. The number of Shares withheld to meet associated tax liabilities arising on vesting and the number of vested Shares retained by each 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 
Mark Bailie
Chief Operating Officer
326,139
153,286
172,853
Chris Marks
CEO, NatWest Markets
326,139
153,286
172,853
Alison Rose
CEO, Commercial & Private Banking
66,733
31,365
35,368
The above transactions took place outside of a trading venue. The market price used to determine the number of Shares withheld to meet associated tax liabilities was 2.389. Shares retained after payment of associated tax liabilities are subject to a six month retention period from vesting and are held in the Computershare Retained Shares Nominee account.
2. The Company announces that conditional long term incentive awards over Shares vested on 7 March 2017 to the PDMRs set out below. The conditional long term incentive awards were granted under the RBS 2010 Long Term Incentive Plan in March 2014 (or as otherwise stated). The number of Shares withheld to meet associated tax liabilities arising on vesting and the number of vested Shares retained by each 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 Shares retained 
Elaine Arden
Chief HR Officer
137,279
64,522
72,757
Mark Bailie
Chief Operating Officer
45,760
21,508
24,252
Chris Marks
CEO, NatWest Markets
45,760
21,508
24,252
Leslie Matheson
CEO, Personal & Business Banking
152,533
71,691
80,842
Ross McEwan
Chief Executive
512,509
240,880
271,629
Simon McNamara
Chief Administrative Officer
266,932
125,459
141,473
Alison Rose
CEO, Commercial & Private Banking
144,906
68,106
76,800
David Stephen
Chief Risk Officer
183,039
86,029
97,010
Ewen Stevenson1
Chief Financial Officer
288,257
135,481
152,776

1 Granted and announced on 19 May 2014. 
The above transactions took place outside of a trading venue. The market price used to determine the number of Shares withheld to meet associated tax liabilities was 2.389. Shares retained after payment of associated tax liabilities are subject to a six month retention period from vesting and are held in the Computershare Retained Shares Nominee account.
3. The Company announces that conditional long term incentive awards over Shares have been granted on 7 March 2017 under the RBS 2014 Employee Share Plan to the PDMRs set out below. The awards are eligible to vest between years 2020 and 2024 (or as otherwise stated), subject to the achievement of performance conditions. Malus provisions will apply up until vest and clawback provisions will apply for a period of seven years from the date of grant, extended to ten years if events are under investigation at the end of the seven year period. 
Name of PDMR
Position of PDMR
Maximum no. of 
Shares eligible to vest
Mark Bailie
Chief Operating Officer
900,920
Chris Marks
CEO, NatWest Markets
900,920
Leslie Matheson
CEO, Personal & Business Banking
517,770
Ross McEwan2
Chief Executive
1,188,800
Simon McNamara
Chief Administrative Officer
497,060
Alison Rose
CEO, Commercial & Private Banking
745,589
David Stephen
Chief Risk Officer
579,903
Ewen Stevenson2
Chief Financial Officer
954,768
David Wheldon
Chief Marketing Officer
310,662

2 Awards for Mr McEwan and Mr Stevenson are eligible to vest between 2021 and 2024.
The above transactions took place outside of a trading venue. The market price per Share used on the grant of the above awards was 2.4142. Vested Shares retained after payment of associated tax liabilities will be subject to a six month retention period.
4. The Company announces that it was notified on 3 March 2017 that Elaine Arden, Chief HR Officer, sold 70,082 Shares on that date at a price of 2.44 per Share. The transactions took place on the London Stock Exchange (XLON). 
 
Person responsible for making notification:- 
Aileen Taylor, Company Secretary 
For further information contact:- 
RBS Investor Relations
Alexander Holcroft
Head of Equity Investor Relations
+44 20 7672 1758
RBS Media Relations 
+44(0)131 523 4205

This information is provided by RNS
The company news service from the London Stock Exchange
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