RNS Number : 8976Y
Royal Bank of Scotland Group PLC
08 March 2017
 

8 March 2017

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 2017 to the PDMRs set out below. The conditional deferred awards were granted under the RBS 2010 Deferral Plan in March 2014 and the RBS 2014 Employee Share Plan in March 2015. 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

326,139

153,286

172,853

Chris Marks

CEO, NatWest Markets

326,139

153,286

172,853

Alison Rose

CEO, Commercial & Private Banking

66,733

31,365

35,368

 

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 £2.389Shares retained after payment of associated 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 long term incentive awards over Shares vested on 7 March 2017 to the PDMRs set out below.  The conditional long term incentive awards were granted under the RBS 2010 Long Term Incentive Plan in March 2014 (or as otherwise stated).  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 Shares retained

Elaine Arden

Chief HR Officer

137,279

64,522

72,757

Mark Bailie

Chief Operating Officer

45,760

21,508

24,252

Chris Marks

CEO, NatWest Markets

45,760

21,508

24,252

Leslie Matheson

CEO, Personal & Business Banking

152,533

71,691

80,842

Ross McEwan

Chief Executive

512,509

240,880

271,629

Simon McNamara

Chief Administrative Officer

266,932

125,459

141,473

Alison Rose

CEO, Commercial & Private Banking

144,906

68,106

76,800

David Stephen

Chief Risk Officer

183,039

86,029

97,010

Ewen Stevenson1

Chief Financial Officer

288,257

135,481

152,776


1 Granted and announced on 19 May 2014.

 

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 £2.389Shares retained after payment of associated 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 long term incentive awards over Shares have been granted on 7 March 2017 under the RBS 2014 Employee Share Plan to the PDMRs set out below.  The awards are eligible to vest between years 2020 and 2024 (or as otherwise stated), subject to the achievement of performance conditions. 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

900,920

Chris Marks

CEO, NatWest Markets

900,920

Leslie Matheson

CEO, Personal & Business Banking

517,770

Ross McEwan2

Chief Executive

1,188,800

Simon McNamara

Chief Administrative Officer

497,060

Alison Rose

CEO, Commercial & Private Banking

745,589

David Stephen

Chief Risk Officer

579,903

Ewen Stevenson2

Chief Financial Officer

954,768

David Wheldon

Chief Marketing Officer

310,662


2 Awards for Mr McEwan and Mr Stevenson are eligible to vest between 2021 and 2024.

 

The above transactions took place outside of a trading venue.  The market price per Share used on the grant of the above awards was £2.4142Vested Shares retained after payment of associated tax liabilities will be subject to a six month retention period.

 

4.  The Company announces that it was notified on 3 March 2017 that Elaine Arden, Chief HR Officer, sold 70,082 Shares on that date at a price of £2.44 per Share.  The transactions took place on the London Stock Exchange (XLON). 

 

     

Person responsible for making notification:-

Aileen Taylor, Company Secretary

 

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

 

 


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