Director/PDMR Shareholding

RNS Number : 1791H
Royal Bank of Scotland Group PLC
08 March 2018
 

8 March 2018

The Royal Bank of Scotland Group plc

Legal Entity Identifier: 2138005O9XJIJN4JPN90

 

 

INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs") IN ACCORDANCE WITH ARTICLE 19 OF THE EU MARKET ABUSE REGULATION 596/2014

 

1.   The Royal Bank of Scotland Group plc (the "Company") announces that conditional deferred awards over ordinary shares of £1 each in the Company ("Shares") (ISIN: GB00B7T77214) vested on 7 March 2018 to the PDMRs set out below. The conditional deferred awards were granted under the RBS 2014 Employee Share Plan between March 2015 and March 2017. The number of Shares withheld to meet associated tax liabilities arising on vesting and the number of vested Shares retained by each PDMR is set out below:-

 

Name of PDMR

Position of PDMR

No. of Shares vested

No. of Shares withheld to satisfy associated tax liability

No. of vested Shares retained

Mark Bailie

Chief Operating Officer

118,314

55,608

62,706

Helen Cook

Chief HR Officer

34,143

16,049

18,094

Chris Marks

CEO, NatWest Markets

118,314

55,608

62,706

 

The above transactions took place outside of a trading venue.  The market price used to determine the number of Shares withheld to meet associated tax liabilities was £2.61.  Vested Shares retained after payment of associated tax liabilities will be subject to a six month retention period.

 

2.   The Company announces that conditional long term incentive awards over Shares have been granted on 7 March 2018 under the RBS 2014 Employee Share Plan to the PDMRs set out below.  The awards were subject to a pre-grant performance assessment and a further performance assessment will take place at the end of three years. Subject to this pre-vest assessment, awards will be eligible to vest between years 2021 and 2025.  Malus provisions will apply up until vest and clawback provisions will apply for a period of seven years from the date of grant, extended to ten years if events are under investigation at the end of the seven year period. 

 

Name of PDMR

Position of PDMR

Maximum no. of

Shares eligible to vest

Mark Bailie

Chief Operating Officer

507,710

Helen Cook

Chief HR Officer

225,649

Chris Marks

CEO, NatWest Markets

564,122

Les Matheson

CEO, Personal & Business Banking

394,886

Ross McEwan

Chief Executive

592,328

Simon McNamara

Chief Administrative Officer

394,886

Alison Rose

CEO, Commercial & Private Banking

488,906

Ewen Stevenson

Chief Financial Officer

541,557

David Wheldon

Chief Marketing Officer

206,845

 

The above transactions took place outside of a trading venue.  The market price per Share used on the grant of the above awards was £2.659Vested Shares retained after payment of associated tax liabilities will be subject to a twelve month retention period.

 

3. The Company also announces that it was notified on 6 March 2018 that Frank Dangeard, Non-executive director, purchased 5,000 Shares on that date at a price of £2.626 per Share.  The transaction took place on the London Stock Exchange (XLON). 

 

4.   The Company also announces that it was notified on 8 March 2018 that Les Matheson, CEO, Personal & Business Banking, sold 107,372 Shares on that date at a price of £2.617 per Share.  The transaction took place on the London Stock Exchange (XLON). 

 

 

     

 

For further information contact:-

 

RBS Investor Relations
Alexander Holcroft
Head of Equity Investor Relations
+44 20 7672 1758

 

RBS Media Relations  

+44(0)131 523 4205

 

 


This information is provided by RNS
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