NatWest Group plc has announced the delivery of ordinary shares to Persons Discharging Managerial Responsibility (PDMRs) under the NatWest Group 2014 Employee Share Plan. The shares were delivered as payment of a fixed share allowance for the three-month period ending 31 December 2023. The number of shares delivered, shares withheld for tax liabilities, and shares retained by each PDMR have been disclosed. The PDMRs include Robert Begbie, Keiran Foad, David Lindberg, Scott Marcar, Katie Murray, Paul Thwaite, and Jen Tippin. The market price used to determine the shares withheld for tax liabilities was £1.9555. The retained shares will be released in instalments over a three or five-year period.
Additionally, NatWest Group plc has granted a conditional Buy-out award under the Employee Share Plan to Keiran Foad, the Group Chief Risk Officer. The award was granted to replace awards forfeited on leaving their previous employer. The award price was calculated using a 5-day average share price taken immediately prior to Foad joining the Group. The number of shares granted and the vesting period have been disclosed.
Furthermore, a conditional buy-out over vested shares has been announced for Keiran Foad. The number of shares withheld to meet associated tax liabilities and the number of vested shares retained by Foad have been disclosed. The market price used to determine the shares withheld for tax liabilities was £1.9555. The retained shares will be subject to retention periods that mirror the retention periods applicable to Foad's original awards from their previous employer.
The transactions took place on the London Stock Exchange (XLON). For further information, investors can contact NatWest Group Investor Relations, and for media inquiries, NatWest Group Media Relations.