NatWest Group plc filed a Form 6-K on 12 November 2026 disclosing the delivery of ordinary shares to seven persons discharging managerial responsibility (PDMRs) on 10 November 2026 under the NatWest Group 2024 Employee Share Plan.

Key Highlights

  • Share price used for delivery: Shares were calculated using a price of £5.9276 per share.
  • Tax withholding price: The market price used to determine shares withheld for tax liabilities was £6.0672 per share.
  • Largest individual delivery: Group Chief Executive Officer Paul Thwaite received 51,332 shares delivered, with 24,163 withheld for tax and 27,169 retained.
  • Fixed share allowance period: The shares represent payment of a fixed share allowance for the three-month period ending 31 December 2026.
  • Five-year release schedule: Retained shares will be held on behalf of PDMRs and released in instalments over a five-year period.
  • Transaction venue: All transactions took place on the London Stock Exchange (XLON).

NatWest Group 2024 Employee Share Plan: November 2026 PDMR Delivery Details

According to the filing, NatWest Group plc delivered ordinary shares of £1.0769 each (ISIN: GB00BM8PJY71) to seven PDMRs on 10 November 2026 under the NatWest Group 2024 Employee Share Plan. The shares represent a fixed share allowance covering the three-month period ending 31 December 2026, with the number of shares determined using a share price of £5.9276. The company disclosed the transaction pursuant to Article 19 of the UK Market Abuse Regulation.

The filing sets out the number of shares delivered, withheld for tax, and retained for each named PDMR. Robert Begbie (CEO, Commercial and Institutional) received 15,289 shares delivered, with 7,656 withheld and 7,633 retained. Abib Bocresion (Group Chief Risk Officer) had 11,599 delivered, 5,460 withheld, and 6,139 retained. Solange Chamberlain (CEO, Retail) and Emma Crystal (CEO, Private Banking and Wealth Management) each received 12,231 shares delivered, with 5,758 withheld and 6,473 retained. Scott Marcar (Group Chief Information Officer) received 17,398 shares delivered, 8,190 withheld, and 9,208 retained. Katie Murray (Group Chief Financial Officer) received 34,999 shares delivered, 16,475 withheld, and 18,524 retained.

The company disclosed that the market price used to determine shares withheld to satisfy associated tax liabilities was £6.0672. Retained shares will be held on behalf of the PDMRs and released in instalments over a five-year period, according to the filing. The company's Legal Entity Identifier is listed as 2138005O9XJIJN4JPN90.

What Was Disclosed

NatWest Group plc reported the delivery of ordinary shares to seven PDMRs on 10 November 2026 under its 2024 Employee Share Plan, covering a fixed share allowance for the quarter ending 31 December 2026, with shares partly withheld for tax and the remainder held for staged release.