UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

November, 2025

 

Commission File Number 001-10306

 

NatWest Group plc

 

250 Bishopsgate,

London, EC2M 4AA

United Kingdom

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒

Form 40-F ☐

 

 

The following information was issued as Company announcements in London, England and is furnished pursuant to General Instruction B to the General Instructions to Form 6-K:

 

 

NatWest Group plc

 

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

 

1.  NatWest Group plc (the Company) announces that ordinary shares of £1.0769* each in the Company (Shares) (ISIN:GB00BM8PJY71) were delivered to PDMRs on 7 November 2025 under the NatWest Group 2024 Employee Share Plan (the Plan), as set out below. 

 

The Shares delivered represent payment of a fixed share allowance for the three month period ending 31 December 2025 and have been calculated using a Share price of £5.8640.

 

The number of Shares delivered, the number of Shares withheld to meet associated tax liabilities and the number of Shares retained by each PDMR is as follows:-

 

Name of PDMR	Position of PDMR	No. of Shares vested	No. of Shares withheld to satisfy associated tax liability	No. of vested Shares retained
Robert Begbie	CEO, NatWest Commercial & Institutional	15,455	7,740	7,715
Solange Chamberlain	CEO, Retail Banking	12,364	5,820	6,544
Emma Crystal	CEO, Coutts and Wealth Businesses	11,725	5,520	6,205
Keiran Foad	Group Chief Risk Officer	17,587	8,279	9,308
Scott Marcar	Group Chief Information Officer	17,587	8,279	9,308
Katie Murray	Group Chief Financial Officer	34,265	16,129	18,136
Paul Thwaite	Group Chief Executive Officer	50,255	23,656	26,599

 

 

The market price used to determine the number of Shares withheld to meet associated tax liabilities was £5.9980. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs and will be released in instalments over a five year period.

 

2.  The Company announces that the PDMRs set out below have sold Shares on the date and at the price indicated under, and in accordance with the terms of, the irrevocable Trading Plans entered into by the PDMRS, as announced on 01 September 2025: 

Name of PDMR	Position of PDMR	No. of Shares sold	Sale price	Date of transaction
Katie Murray	Group Chief Financial Officer	7,000	£6.0420	10/11/2025
Paul Thwaite	Group Chief Executive Officer	8,000	£6.0420	10/11/2025

 

 

3.  The Company announces that the PDMRs set out below have sold Shares on the date and at the price indicated:

Name of PDMR	Position of PDMR	No. of Shares sold	Sale price	Date of transaction
Robert Begbie	CEO, NatWest Commercial & Institutional	19,000	£6.0700	10/11/2025
Scott Marcar	Group Chief Information Officer	19,125	£6.0164	07/11/2025

 

 All of the above transactions took place on the London Stock Exchange (XLON).

 

* Note: the nominal value of ordinary shares without rounding is £1.076923076923077 per share 

 

Legal Entity Identifier: 2138005O9XJIJN4JPN90

For further information contact:

Claire Kane

Director of Investor Relations

+44 20 7672 1758

 

NatWest Group Media Relations 

+44(0)131 523 4205

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

			NatWest Group plc (Registrant)
Date:	11 November 2025			By:	/s/ Mark Stevens
				Name:	Mark Stevens
				Title:	Assistant Secretary