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[6-K] NatWest Group plc Current Report (Foreign Issuer)

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

Rhea-AI Filing Summary

NatWest Group plc reported routine PDMR equity activity. Ordinary shares were delivered to senior executives on 7 November 2025 under the NatWest Group 2024 Employee Share Plan, calculated using a share price of £5.8640. A market price of £5.9980 was used to determine shares withheld for tax. Retained shares will be released in instalments over five years.

Selected vestings included Paul Thwaite (50,255 vested; 23,656 withheld; 26,599 retained) and Katie Murray (34,265 vested; 16,129 withheld; 18,136 retained). The company also noted sales under previously announced irrevocable trading plans on 10 November 2025: Katie Murray sold 7,000 shares at £6.0420 and Paul Thwaite sold 8,000 at £6.0420. Additional sales were disclosed for Robert Begbie (19,000 at £6.0700 on 10/11/2025) and Scott Marcar (19,125 at £6.0164 on 07/11/2025). All transactions occurred on the London Stock Exchange (XLON).

Positive

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Negative

  • None.
 
 
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
 
November, 2025
 
Commission File Number 001-10306
 
NatWest Group plc
 
250 Bishopsgate,
London, EC2M 4AA
United Kingdom
(Address of principal executive offices)
 
 
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
 
 
 
 
The following information was issued as Company announcements in London, England and is furnished pursuant to General Instruction B to the General Instructions to Form 6-K:
 
 
11 November 2025
 
NatWest Group plc
 
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMRs) IN ACCORDANCE WITH ARTICLE 19 OF THE MARKET ABUSE REGULATION
 
1.  NatWest Group plc (the Company) announces that ordinary shares of £1.0769* each in the Company (Shares) (ISIN:GB00BM8PJY71) were delivered to PDMRs on 7 November 2025 under the NatWest Group 2024 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 31 December 2025 and have been calculated using a Share price of £5.8640.
 
The number of Shares delivered, the number of Shares withheld to meet associated tax liabilities and the number of Shares retained by each PDMR is as follows:-
 
Name of PDMR
Position of PDMR
No. of Shares vested
No. of Shares withheld to satisfy associated tax liability 
No. of vested Shares retained
Robert Begbie
CEO, NatWest Commercial & Institutional
15,455
7,740
7,715
Solange Chamberlain
CEO, Retail Banking
12,364
5,820
6,544
Emma Crystal
CEO, Coutts and Wealth Businesses
11,725
5,520
6,205
Keiran Foad
Group Chief Risk Officer
17,587
8,279
9,308
Scott Marcar
Group Chief Information Officer
17,587
8,279
9,308
Katie Murray
Group Chief Financial Officer
34,265 
16,129
18,136 
Paul Thwaite
Group Chief Executive Officer
50,255
23,656
26,599
 
 
The market price used to determine the number of Shares withheld to meet associated tax liabilities was £5.9980. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs and will be released in instalments over a five year period.
 
2.  The Company announces that the PDMRs set out below have sold Shares on the date and at the price indicated under, and in accordance with the terms of, the irrevocable Trading Plans entered into by the PDMRS, as announced on 01 September 2025: 
Name of PDMR
Position of PDMR
No. of Shares sold 
Sale price
Date of transaction
Katie Murray
Group Chief Financial Officer
7,000
£6.0420
10/11/2025
Paul Thwaite
Group Chief Executive Officer
8,000
£6.0420
10/11/2025
 
 
3.  The Company announces that the PDMRs set out below have sold Shares on the date and at the price indicated:
Name of PDMR
Position of PDMR
No. of Shares sold
Sale price
Date of transaction
Robert Begbie
CEO, NatWest Commercial & Institutional
19,000
£6.0700
10/11/2025
Scott Marcar
Group Chief Information Officer
19,125
£6.0164
07/11/2025
 
 All of the above transactions took place on the London Stock Exchange (XLON).
 
* Note: the nominal value of ordinary shares without rounding is £1.076923076923077 per share 
 
Legal Entity Identifier: 2138005O9XJIJN4JPN90
For further information contact:
 
NatWest Group Investor Relations
Claire Kane
Director of Investor Relations
+44 20 7672 1758
 
NatWest Group Media Relations 
+44(0)131 523 4205
 
 
 
 
 
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.
 
 
 
 
 
 
NatWest Group plc
(Registrant)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Date:
11 November 2025
 
 
By:
/s/ Mark Stevens
 
 
 
 
 
 
 
 
 
 
 
 
Name:
Mark Stevens
 
 
 
 
 
Title:
Assistant Secretary
 

FAQ

What did NatWest (NWG) disclose in this Form 6-K?

Share deliveries and sales by PDMRs, including vesting under the 2024 Employee Share Plan on 7 November 2025 and subsequent market sales on XLON.

What share prices were used for the plan calculations and tax withholding?

Deliveries were calculated at £5.8640 per share; shares withheld for tax used a market price of £5.9980.

Which PDMRs had the largest vestings and how many shares were retained?

Paul Thwaite vested 50,255 and retained 26,599; Katie Murray vested 34,265 and retained 18,136.

What sales did NWG PDMRs execute and at what prices?

Katie Murray sold 7,000 at £6.0420; Paul Thwaite sold 8,000 at £6.0420; Robert Begbie sold 19,000 at £6.0700; Scott Marcar sold 19,125 at £6.0164.

When will retained shares be available to PDMRs?

Retained shares will be released in instalments over a five year period.

Where were the transactions executed?

All transactions took place on the London Stock Exchange (XLON).
Natwest Group Plc

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