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Royal Bk Scot.Grp. (RBS)

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Friday 07 March, 2014

Royal Bk Scot.Grp.

Director/PDMR Shareholding

RNS Number : 8085B
Royal Bank of Scotland Group PLC
07 March 2014
 



The Royal Bank of Scotland Group plc

7 March 2014

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS IN ACCORDANCE WITH DTR 3.1.4R AND DTR 3.1.2R

 

1.   The Royal Bank of Scotland Group plc (the "Company") announces that conditional awards over ordinary shares of £1 in the Company ("Shares"), granted under the RBS 2010 Deferral Plan between March 2011 and March 2013 to the Directors and/or Persons Discharging Managerial Responsibility ("PDMRs'") set out below, vested on 7 March 2014. The number of Shares sold to meet relevant tax liabilities arising on vesting and the number of vested Shares retained by each PDMR is set out below:-

 

Director / PDMR

No. of Shares vested

No. of Shares sold to satisfy relevant tax liability

No. of vested Shares retained

Elaine Arden

19,183

9,031

10,152

Rory Cullinan

270,446

127,301

143,145

Leslie Matheson

13,808

6,501

7,307

Ross McEwan

18,799

8,849

9,950

Alison Rose

93,248

43,894

49,354

David Stephen

51,682

24,328

27,354

Christopher Sullivan

77,117

36,301

40,816

Bruce Van Saun

308,473

170,672

137,801

Donald Workman

25,904

12,195

13,709

 

The market price per Share on the date of vesting was £3.326.  Vested Shares retained after payment of relevant tax liabilities are subject to a six month retention period from vesting and are held in the Computershare Retained Shares Nominee account.

 

2.   The Company announces that conditional awards over Shares, granted under the RBS 2010 Long Term Incentive Plan on 7 March 2011 (or as otherwise stated) to the PDMRs set out below, vested on 7 March 2014.  The number of Shares sold to meet relevant tax liabilities arising on vesting and the number of vested Shares retained by each PDMR is set out below:-

 

Director / PDMR

No. of Shares vested

No. of Shares sold to satisfy relevant tax liability

No. of Shares retained

Elaine Arden

58,789

27,673

31,116

Rory Cullinan

134,856

63,478

71,378

Leslie Matheson

58,078

27,338

30,740

Simon McNamara1

17,619

8,294

9,325

David Stephen

63,551

29,914

33,637

Christopher Sullivan

159,299

74,984

84,315

Bruce Van Saun

170,677

96,018

74,659

Donald Workman

43,285

20,375

22,910





1 Granted and announced on 8 November 2013.

 

The market price per Share on the date of vesting was £3.326.  Vested Shares retained after payment of relevant tax liabilities are subject to a six month retention period from vesting and are held in the Computershare Retained Shares Nominee account.

 

3.   The Company announces that conditional awards over Shares have been granted on 7 March 2014 under the RBS 2010 Deferral Plan to the PDMRs set out below.  The awards are eligible to vest between June 2014 and March 2017 and are subject to clawback provisions. 

 

Director / PDMR

Maximum no. of Shares eligible to vest

Rory Cullinan

785,540

Alison Rose

266,932

Donald Workman

144,906

 

The market price per Share used on the grant of the above awards was £3.278.  Vested Shares retained after payment of relevant tax liabilities will be subject to a six month retention period from vesting.

 

4.   The Company announces that conditional awards over Shares have been granted on 7 March 2014 under the RBS 2010 Long Term Incentive Plan to the PDMRs set out below.  The awards are eligible to vest on 7 March 2017 (or as otherwise stated), subject to the achievement of performance conditions.  Clawback provisions will also apply.

 

Director / PDMR

No. of Shares representing the initial notional value of award at grant

Maximum no. of Shares eligible to vest

Elaine Arden

123,551

274,558

Rory Cullinan

137,279

305,065

Leslie Matheson

137,279

305,065

Ross McEwan

411,837

915,193

Simon McNamara

240,238

533,863

Jonathan Pain

164,735

366,077

Alison Rose

130,415

289,811

David Stephen

164,735

366,077

Christopher Sullivan

226,510

503,356

Bruce Van Saun2

334,008

428,216

Donald Workman

37,752

83,893




2 Award is eligible to vest in two equal tranches on 7 March 2016 and 7 March 2017.

 

The market price per Share used on the grant of the above awards was £3.278.  Vested Shares retained after payment of relevant tax liabilities will be subject to a six month retention period from vesting.

 

 

For further information contact:-

Group Media Relations - +44(0)131 523 4205

 

Person responsible for making notification:-

Aileen Taylor, Group Secretary and Head of Corporate Governance


This information is provided by RNS
The company news service from the London Stock Exchange
 
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