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National Grid (NYSE: NGG) details voting rights and PDMR share transactions

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

National Grid plc reports its updated share capital and recent management share transactions. As of 30 November 2025, the company had 5,191,884,002 ordinary shares in issue, of which 230,339,116 were held in treasury, leaving 4,961,544,886 shares with voting rights for disclosure calculations under FCA rules.

The filing also details moves by senior executives. Chief Information and Digital Officer Talvis Love received 14,147 American Depository Shares at nil cost on 1 December 2025 from the vesting of a Retention Award Plan grant, with 6,865 ADS automatically sold at $76.31 to cover tax. On 8 December 2025, Chief Financial Officer Andy Agg and Chief People Officer Will Serle each bought 13 ordinary shares at GBP 11.3943 under the Share Incentive Plan.

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 UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
 
FORM 6-K
 
 
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
 
Date: 31 December 2025
 
Commission File Number: 001-14958
 
 
NATIONAL GRID plc
 
(Translation of registrant’s name into English)
 
England and Wales
 
(Jurisdiction of Incorporation) 
 
 
1-3 Strand, London, WC2N 5EH, United Kingdom
(Address of principal executive office)
 
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
 
  Form 20-F        Form 40-F
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  
 
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of 1934.    Yes      No
 
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a
 
 
 
 
 
EXHIBIT INDEX
 
Exhibit No.
 
Description
 
99.1
 
Exhibit 99.1 Announcement sent to the London Stock Exchange on 01 December 2025 — Total Voting Rights
99.2
 
Exhibit 99.2 Announcement sent to the London Stock Exchange on 03 December 2025 — Director/PDMR Shareholding
99.3
 
Exhibit 99.3 Announcement sent to the London Stock Exchange on 09 December 2025 — Director/PDMR Shareholding
 
 
Exhibit 99.1
 
 
1 December 2025
 
National Grid plc ('National Grid' or 'Company')
 
Voting Rights update
 
 
National Grid's registered capital as of 30 November 2025 consisted of 5,191,884,002 ordinary shares of which 230,339,116 were held as treasury shares; leaving a balance of 4,961,544,886 with voting rights.
 
The figure of 4,961,544,886 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, National Grid under the FCA's Disclosure Guidance and Transparency Rules.
 
 
Julian Baddeley                              
Group Company Secretary
 
 
Exhibit 99.2
 
 
3 December 2025
 
National Grid plc ('National Grid' or 'Company')
 
Notification of Transactions of Persons Discharging Managerial Responsibilities ('PDMR')
 
 
This announcement is made in accordance with Article 19 of the Market Abuse Regulation ('MAR') and relates to the following PDMR acquiring shares following a partial vesting of an award made under the Company's Retention Award Plan ('RAP').  
 
The vesting relates to a RAP award made to Talvis Love on 3 June 2024. The RAP award was conditional on continued employment with the Company and on the satisfaction of the performance conditions approved by the Remuneration Committee, which (after tax on the gross award) must be retained until the shareholding requirements are met. The RAP award remains subject to malus and clawback provisions. 
 
In accordance with MAR, the relevant Financial Conduct Authority notifications are set out below.
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
Talvis Love
 
2
Reason for the notification
 
a)
 
Position/status
Chief Information and Digital Officer 
b)
 
Initial notification /Amendment
Initial notification
 
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
National Grid plc
 
b)
LEI
8R95QZMKZLJX5Q2XR704
 
4
 
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
 
a)
 
Description of the financial instrument, type of instrument
 
Identification code
American Depository Shares 
 
US 6362744095
 
b)
 
Nature of the transaction
Shares acquired following the vesting of the second tranche of shares in respect of the 3 June 2024 RAP award.
 
c)
Price(s) and volume(s)
Price(s)
 
Volume(s)
Nil
 
14,147
d)
 
Aggregated information
 
- Aggregated volume
 
- Price
 
 
e)
 
Date of the transaction
2025.12.01
 
f)
 
Place of the transaction
New York Stock Exchange (NYSE)
 
4
 
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
 
a)
 
Description of the financial instrument, type of instrument
 
Identification code
American Depository Shares 
 
US 6362744095 
 
b)
 
Nature of the transaction
 
Automatic disposal of shares resulting from RAP award exercise to cover tax liabilities.
 
c)
Price(s) and volume(s)
Price(s)
 
Volume(s)
$76.31
 
6,865
d)
 
Aggregated information
 
- Aggregated volume
 
- Price
 
 
e)
Date of the transaction
2025.12.01
 
f)
 
Place of the transaction
New York Stock Exchange (NYSE)
 
 
 
Exhibit 99.3
 
 
09 December 2025
 
National Grid plc ('National Grid' or 'Company')
 
Notification of Transactions of Persons Discharging Managerial Responsibilities ('PDMRs')
 
 
This announcement is made in accordance with Article 19 of the Market Abuse Regulation ('MAR'). In accordance with MAR, the relevant Financial Conduct Authority ('FCA') notifications are set out below.
 
1
 
Details of the person discharging managerial responsibilities / person closely associated
 
a)
 
Name
 
Andy Agg
 
2
 
Reason for the notification
 
a)
 
Position/status
 
Chief Financial Officer
 
b)
 
Initial notification /Amendment
 
Initial notification
 
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 
a)
 
Name
 
National Grid plc
 
b)
 
LEI
 
8R95QZMKZLJX5Q2XR704
 
4
 
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
 
a)
 
Description of the financial instrument, type of instrument
 
Identification code
 
Ordinary shares of 12 204/473p each
 
GB00BDR05C01
b)
 
Nature of the transaction
 
Monthly purchase of securities ("partnership shares") under the Share Incentive Plan
 
c)
 
Price(s) and volume(s)
 
 
Price(s)
 
Volume(s)
GBP 11.3943
13
 
d)
 
Aggregated information
 
- Aggregated volume
 
- Price
 
 
e)
 
Date of the transaction
 
2025.12.08
 
f)
 
Place of the transaction
 
London Stock Exchange (XLON)
 

 
1
 
Details of the person discharging managerial responsibilities / person closely associated
 
a)
 
Name
 
Will Serle
 
2
 
Reason for the notification
 
a)
 
Position/status
 
Chief People Officer
 
b)
 
Initial notification /Amendment
 
Initial notification
 
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 
a)
 
Name
 
National Grid plc
 
b)
 
LEI
 
8R95QZMKZLJX5Q2XR704
 
4
 
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
 
a)
 
Description of the financial instrument, type of instrument
 
Identification code
Ordinary shares of 12 204/473p each
 
GB00BDR05C01
 
b)
 
Nature of the transaction
 
Monthly purchase of securities ("partnership shares") under the Share Incentive Plan
c)
 
Price(s) and volume(s)
 
 
Price(s)
 
Volume(s)
GBP 11.3943
 
13
d)
 
Aggregated information
 
- Aggregated volume
 
- Price
 
 
e)
 
Date of the transaction
 
2025.12.08
 
f)
 
Place of the transaction
 
London Stock Exchange (XLON)
 
 
 
 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
 
 
 
NATIONAL GRID plc
 
 
 
 
 
By:
 
Beth Melges
 
 
 
Beth Melges
Head of Plc Governance
 
 
 
 
Date: 31 December 2025

FAQ

What voting rights did National Grid (NGG) report as of 30 November 2025?

National Grid stated that as of 30 November 2025 it had 5,191,884,002 ordinary shares in issue, including 230,339,116 treasury shares, leaving 4,961,544,886 shares with voting rights for shareholder disclosure calculations.

What executive share award did Talvis Love receive according to the National Grid (NGG) Form 6-K?

Chief Information and Digital Officer Talvis Love received 14,147 American Depository Shares on 1 December 2025 from the vesting of the second tranche of a 3 June 2024 Retention Award Plan award, at a price of nil.

Did National Grid (NGG) report any share disposals by Talvis Love?

Yes. On 1 December 2025, 6,865 American Depository Shares were automatically sold on behalf of Talvis Love at $76.31 each to cover tax liabilities arising from the Retention Award Plan vesting.

Which National Grid (NGG) executives purchased shares under the Share Incentive Plan?

Andy Agg, Chief Financial Officer, and Will Serle, Chief People Officer, each made monthly purchases of 13 ordinary shares at GBP 11.3943 per share on 8 December 2025 under the Share Incentive Plan.

On which exchanges did the reported National Grid (NGG) transactions take place?

The American Depository Share transactions for Talvis Love occurred on the New York Stock Exchange (NYSE), while the ordinary share purchases by Andy Agg and Will Serle took place on the London Stock Exchange (XLON).

Why is the 4,961,544,886 figure important for National Grid (NGG) shareholders?

The figure of 4,961,544,886 shares with voting rights is the denominator shareholders should use to determine whether they must notify their interest or changes in their interest under the FCA's Disclosure Guidance and Transparency Rules.

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