NatWest Group details PDMR share plan awards

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.

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.

Key Figures

Share price for award calculation: £7.1536 per share Market price for tax withholding: £7.0608 per share Paul Thwaite shares delivered: 42,534 shares +3 more

6 metrics

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

Key Terms

Persons Discharging Managerial Responsibility, UK Market Abuse Regulation, fixed share allowance, nominal value, +1 more

5 terms

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)"

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.

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Available on EDGAR 08/13/2026 - 09:40 AM Accepted by SEC EDGAR 08/13/2026 - 09:40 AM Learn about SEC filing dates

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