29 August 2023
NatWest Group plc
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSON DISCHARGING MANAGERIAL RESPONSIBILITY (PDMR) in accordance with Article 19 of the Market Abuse Regulation
NatWest Group plc (the Company) announces that ordinary shares of £1.0769* each in the Company (Shares) (ISIN:GB00BM8PJY71) were delivered to the PDMR on 25 August under the NatWest Group 2014 Employee Share Plan (the Plan), as set out below.
The Shares delivered represent payment of a fixed share allowance for the three month period ending 30 September 2023 and have been calculated using a Share price of £2.3796.
The number of Shares delivered, the number of Shares withheld to meet associated tax liabilities and the number of Shares retained by the 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 |
| Paul Thwaite1 |
Group Chief Executive Officer
| 57,803 | 27,209 | 30,594 |
| 1 On 8 August 2023, Paul Thwaite received a fixed share allowance for the three month period ending 30 September 2023, calculated in accordance with his entitlement as Chief Executive Officer Commercial and Institutional, Ring-Fenced Bank. Subsequently, Paul Thwaite's remuneration arrangements as Group Chief Executive Officer have been confirmed. The number of shares delivered as set out above represents the difference between his previous fixed share allowance entitlement for the three month period ending 30 September 2023 and his fixed share allowance of £1,050,000 per annum as Group Chief Executive Officer with effect from 25 July 2023. | ||||
* 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 £2.2670. Shares retained after payment of associated tax liabilities will be held on behalf of the PDMR and will be released in instalments over a five year period.
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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