TIDMRBS
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
GBP1 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 Position No. of No. of No. of
PDMR of PDMR Shares Shares vested
vested withheld Shares
to satisfy retained
associated
tax liability
------------- ----------------- -------- --------------- ----------
Chief Operating
Mark Bailie Officer 326,139 153,286 172,853
------------- ----------------- -------- --------------- ----------
Chris CEO, NatWest
Marks Markets 326,139 153,286 172,853
------------- ----------------- -------- --------------- ----------
CEO, Commercial
Alison & Private
Rose 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 GBP2.389. Shares 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 Position No. of No. of No. of
PDMR of PDMR Shares Shares Shares
vested withheld retained
to satisfy
associated
tax liability
------------------- ---------------------- -------- --------------- ----------
Elaine Chief HR
Arden Officer 137,279 64,522 72,757
------------------- ---------------------- -------- --------------- ----------
Chief Operating
Mark Bailie Officer 45,760 21,508 24,252
------------------- ---------------------- -------- --------------- ----------
CEO, NatWest
Chris Marks Markets 45,760 21,508 24,252
------------------- ---------------------- -------- --------------- ----------
CEO, Personal
Leslie & Business
Matheson Banking 152,533 71,691 80,842
------------------- ---------------------- -------- --------------- ----------
Ross McEwan Chief Executive 512,509 240,880 271,629
------------------- ---------------------- -------- --------------- ----------
Chief Administrative
Simon McNamara Officer 266,932 125,459 141,473
------------------- ---------------------- -------- --------------- ----------
CEO, Commercial
Alison & Private
Rose Banking 144,906 68,106 76,800
------------------- ---------------------- -------- --------------- ----------
Chief Risk
David Stephen Officer 183,039 86,029 97,010
------------------- ---------------------- -------- --------------- ----------
Chief Financial
Ewen Stevenson(1) 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 GBP2.389. Shares 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
------------------- ---------------------- -----------------
Chief Operating
Mark Bailie Officer 900,920
------------------- ---------------------- -----------------
CEO, NatWest
Chris Marks Markets 900,920
------------------- ---------------------- -----------------
CEO, Personal
Leslie Matheson & Business Banking 517,770
------------------- ---------------------- -----------------
Ross McEwan(2) Chief Executive 1,188,800
------------------- ---------------------- -----------------
Chief Administrative
Simon McNamara Officer 497,060
------------------- ---------------------- -----------------
CEO, Commercial
Alison Rose & Private Banking 745,589
------------------- ---------------------- -----------------
David Stephen Chief Risk Officer 579,903
------------------- ---------------------- -----------------
Chief Financial
Ewen Stevenson(2) Officer 954,768
------------------- ---------------------- -----------------
Chief Marketing
David Wheldon 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 GBP2.4142. Vested 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 GBP2.44 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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