NatWest Group plc has announced the granting of conditional restricted share plan awards and deferred awards to several Persons Discharging Managerial Responsibility (PDMRs) under the NatWest Group plc 2014 Employee Share Plan. The awards were granted on 7 March 2024 and include a maximum number of shares eligible to vest for each PDMR. The prices per share used on the grant of the awards were disclosed, and a pre-vest performance assessment will take place for the restricted share plan at the end of three years. The vesting period for the deferred awards will be between 2024 and 2031, and malus provisions will apply to each award up until vesting.
Additionally, the company announced that long-term incentive awards, deferred awards, and buy-out awards over shares vested on 7 March 2024 to the PDMRs. The number of shares vested, withheld to meet associated tax liabilities, and retained by each PDMR was detailed. Vested shares retained after payment of associated tax liabilities will be subject to retention periods, and the market price used to meet associated tax liabilities was disclosed.
Furthermore, the company announced that shares were delivered to PDMRs on 7 March 2024, representing payment of a fixed share allowance for the three-month period ending 31 March 2024. The number of shares delivered, withheld to meet associated tax liabilities, and retained by each PDMR was provided. Vested shares retained after payment of associated tax liabilities will be subject to retention periods of twelve months, unless otherwise indicated.
This announcement provides a comprehensive overview of the recent transactions involving PDMRs at NatWest Group plc, including the granting of awards, vesting of shares, and delivery of shares as part of the company's employee share plan.