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NatWest Group (NWG) grants senior executives fixed share allowances under 2024 plan

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

NatWest Group plc reported that ordinary shares of £1.0769 each were delivered on 11 August 2026 to several Persons Discharging Managerial Responsibility under the 2024 Employee Share Plan. These awards represent a fixed share allowance for the three‑month period ending 30 September 2026, calculated using a share price of £7.1536. The market price used to determine shares withheld for tax was £7.0608, and the net shares retained for each PDMR will be held and released in instalments over a five‑year period.

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Share price for award calculation £7.1536 per share Used to calculate fixed share allowance for three months ending 30 September 2026
Market price for tax withholding £7.0608 per share Used to determine number of shares withheld to meet associated tax liabilities
Paul Thwaite shares delivered 42,534 shares Group Chief Executive Officer share delivery on 11 August 2026
Paul Thwaite shares retained 22,512 shares Net shares retained after tax withholding, to be released over five years
Katie Murray shares delivered 29,001 shares Group Chief Financial Officer share delivery on 11 August 2026
Ordinary share nominal value £1.0769 per share Nominal value of NatWest Group ordinary shares used in the awards
Persons Discharging Managerial Responsibility regulatory
"INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMRs)"
Senior managers and company directors who have authority over business decisions and regular access to confidential information that could affect the share price. Investors watch their share dealings and required disclosures because these people are more likely to know important company news before the public; their buying or selling can signal confidence or raise red flags about potential insider information, much like a coach's moves revealing the team's true condition.
UK Market Abuse Regulation regulatory
"in accordance with Article 19 THE UK MARKET ABUSE REGULATION"
fixed share allowance financial
"represent payment of a fixed share allowance for the three month period"
nominal value financial
"the nominal value of ordinary shares without rounding is £1.076923076923077 per share"
Nominal value is the stated or face amount assigned to a financial instrument — for shares it’s the par value printed on the stock certificate, and for money or returns it can mean the number not adjusted for inflation. Think of it like a price tag on an item versus its buying power: the tag tells you the label, but not how much you can actually buy. Investors care because nominal values affect accounting, legal capital, dividend calculations and comparisons over time when inflation may distort real worth.
Employee Share Plan financial
"under the NatWest Group 2024 Employee Share Plan (the Plan)"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did NatWest Group (NWG) disclose in this 6-K about PDMR share transactions?

NatWest Group disclosed that ordinary shares were delivered on 11 August 2026 to several PDMRs under its 2024 Employee Share Plan. These awards are fixed share allowances for a three‑month period ending 30 September 2026 and include tax withholding and multi‑year vesting.

Which NatWest Group (NWG) executives received shares and in what amounts?

Executives including Paul Thwaite (Group CEO, 42,534 shares delivered) and Katie Murray (CFO, 29,001 shares delivered) received awards. Other senior leaders such as the CEOs of Commercial & Institutional, Retail, and Private Banking & Wealth Management also received share deliveries.

How were the NatWest Group (NWG) PDMR share awards valued?

The fixed share allowances were calculated using a share price of £7.1536. For tax withholding purposes, a market price of £7.0608 per share was used to determine how many shares were withheld to meet associated tax liabilities for each PDMR.

What happens to the NatWest Group (NWG) shares retained by PDMRs after tax?

Shares retained after paying associated tax liabilities will be held on behalf of PDMRs and released in instalments over a five‑year period. This structure spreads the benefit of the awards over multiple years, aligning with longer‑term incentives.

On which market did the NatWest Group (NWG) PDMR share transactions occur?

All of the reported transactions in NatWest Group ordinary shares took place on the London Stock Exchange (XLON). The disclosure is made in line with Article 19 of the UK Market Abuse Regulation regarding PDMR transactions in issuer securities.

What is the nominal value of NatWest Group (NWG) ordinary shares used in this filing?

The ordinary shares delivered to PDMRs have a nominal value of £1.0769 per share, with the unrounded nominal value stated as £1.076923076923077. This nominal value is distinct from the market prices used to calculate award and tax withholding amounts.

 
 
 
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
 
August, 2026
 
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:
 
 
 
13 August 2026
NatWest Group plc
 
  
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMRs) IN ACCORDANCE WITH ARTICLE 19 OF THE UK 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 PDMRs on 11 August 2026 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 30 September 2026 and have been calculated using a Share price of £7.1536.
 
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 delivered
No. of Shares withheld to satisfy associated tax liability
No. of Shares retained
Robert Begbie
CEO, Commercial & Institutional
12,669
6,345
6,324
Abib Bocresion
Group Chief Risk Officer
9,611
4,524
5,087
Solange Chamberlain
CEO, Retail
10,135
4,771
5,364
Emma Crystal
CEO, Private Banking & Wealth Management
10,135
4,771
5,364
Scott Marcar
Group Chief Information Officer
14,416
6,786
7,630
Katie Murray
Group Chief Financial Officer
29,001
13,651
15,350
Paul Thwaite
Group Chief Executive Officer
42,534
20,022
22,512
 
The market price used to determine the number of Shares withheld to meet associated tax liabilities was £7.0608. 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.
 
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:
13 August 2026
 
 
By:
/s/ Mark Stevens
 
 
 
 
 
 
 
 
 
 
 
 
Name:
Mark Stevens
 
 
 
 
 
Title:
Assistant Secretary