NatWest Group plc has announced the granting of Sharing in Success (SiS) awards over ordinary shares to certain Persons Discharging Managerial Responsibility (PDMRs) under the NatWest Group plc 2024 Employee Share Plan. The awards immediately vested, with the market price per share used for the grant being £3.0380. The number of shares vested, withheld to meet associated tax liabilities, and retained by each PDMR has been disclosed. Clawback provisions will apply for a period of seven years from the date of grant, extended to ten years for relevant PDMRs if events are under investigation at the end of the seven-year period. Vested shares retained after payment of associated tax liabilities will be subject to a twelve-month retention period.
Additionally, the company announced that shares were delivered to PDMRs as payment of a fixed share allowance for the three-month period ending 30 June 2024. The number of shares delivered, withheld to meet associated tax liabilities, and retained by each PDMR has been detailed. The market price used to determine the number of shares withheld to meet associated tax liabilities was £3.1241. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs and released in instalments over a three or five-year period. All of the transactions took place on the London Stock Exchange (XLON).
For further information, NatWest Group Investor Relations can be contacted through Claire Kane, Director of Investor Relations, at +44 20 7672 1758.