REG - NatWest Group plc - Director/PDMR Shareholding

NatwestAnnouncement

09/11/2023 14:00

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RNS Number : 9859S  NatWest Group plc  09 November 2023

9 November 2023

 

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 under the NatWest Group 2014 Employee Share Plan (Plan),
as set out below.

 

The Shares delivered represent payment of a fixed share allowance for the
three month period ending 31 December 2023 and have been calculated using a
Share price of £1.8025.

 

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

                  CEO, Commercial & Institutional Non Ring-Fenced Bank, Interim CEO,          20,805                   10,210                                                      10,595

                Commercial & Institutional Ring-Fenced Bank, and CEO, NatWest Markets
 Robert Begbie

 Keiran Foad      Group Chief Risk Officer                                                    57,213                   26,931                                                      30,282
                  CEO, Retail Banking                                                         45,077                   21,219                                                      23,858

 David Lindberg

 Scott Marcar                                                                                 57,213                   26,931                                                      30,282

                  Group Chief Information Officer

 Katie Murray                                                                                 109,286                  51,442                                                      57,844

                  Group Chief Financial Officer

 Paul Thwaite                                                                                 145,632                  68,550                                                      77,082

                  Group Chief Executive Officer

 Jen Tippin                                                                                   57,213                   26,931                                                      30,282

                  Group Chief People & Transformation Officer

* 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 £1.9555. 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 November 2023, a conditional Buy-out
award (Award) was 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 price  No. of Shares granted
 Keiran Foad   Group Chief Risk Officer  £2.6392(1)   386,086
 1. The Award price has been calculated using a 5 day average Share price taken
 immediately prior to the PDMR joining the Group.

 

Mr Foad's Awards are eligible to vest between 2023 and 2028. The Awards are
subject to malus and clawback provisions, where applicable.

 

3. The Company announces that on 7 November 2023, a conditional buy-out 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          Award    No. of Shares vested  No. of Shares withheld to satisfy associated tax liability  No. of vested Shares retained
 Keiran Foad   Group Chief Risk Officer  Buy-out  12,234                5,759                                                       6,475

 

The market price used to determine the number of Shares withheld to meet
associated tax liabilities was £1.9555.

 

Vested Shares retained after payment of associated tax liabilities will, where
applicable, be subject to retention periods which mirror the retention periods
applicable to the PDMR's original awards from their previous employer.

 

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

 

Legal Entity Identifier: 2138005O9XJIJN4JPN90

 

For further information contact:-

 

NatWest Group Investor Relations

Alexander Holcroft

Head of Investor Relations

+44(0)20 7672 1758

 

NatWest Group Media Relations

+44(0)131 523 4205

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