11th Nov 2025 14:00
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 RelationsClaire KaneDirector of Investor Relations+44 20 7672 1758
NatWest Group Media Relations
+44(0)131 523 4205
Related Shares:
Natwest