NatWest Group(NWG) - 2023 Q1 - Quarterly Report

Shareholder Rights and Voting - The percentage of voting rights held by His Majesty's Treasury in NatWest Group plc is 41.84%, down from 42.95% following the disposal of 111,427,033 ordinary shares[10]. - The total number of voting rights in NatWest Group plc is 38,661,692,740[10]. - The company has extended its trading plan for share sales announced on July 22, 2021, which may affect the percentage of voting rights held by HMT[11]. - The company continues to evaluate its share buyback program, which could influence the voting rights percentage in the future[11]. - Total shares issued as of 31 March 2023 amounted to 9,593,494,746 ordinary shares, resulting in total voting rights of 38,373,978,984[33]. - The total voting rights for shareholders as of 31 March 2023 is 38,375,911,544[33]. Share Awards and Performance - Conditional restricted share plan awards and deferred awards were granted to key management personnel, with the maximum number of shares eligible to vest for the CEO of NatWest Markets being 164,524[13]. - The share price used for the grant of the awards ranged from £2.2055 to £2.8249, reflecting discounts for the absence of dividend equivalents during the vesting period[13]. - A pre-vest performance assessment for the restricted share plan will occur at the end of three years, with vesting eligibility between 2026 and 2030[14]. - Malus provisions will apply to each award until vesting, and clawback provisions will be in effect for seven years from the date of grant[15]. Tax Liabilities and Share Retention - The number of shares withheld to satisfy tax liabilities for the CEO of NatWest Markets was 41,369 out of 86,052 vested shares[16]. - The total number of shares retained by the CEO of NatWest Markets after tax liabilities was 44,683[16]. - The number of shares retained by PDMRs after tax liabilities varied, with the highest being 50,815 shares retained by the CEO[18]. - Shares withheld to meet associated tax liabilities for PDMRs included 30,814 shares withheld from the Group CFO[18]. - The market price used for tax liabilities was £2.920075, with shares delivered calculated at £2.9216 for the three-month period ending 31 March 2023[17]. Share Transactions - A total of 73,000 shares were sold by the Chief People & Transformation Officer at a sale price of £2.7167 on 22 March 2023[27]. - The total number of shares purchased by PDMRs on 30 March 2023 included 3,853 shares by the Chairman at £2.671 each[29]. Financial Instruments - The company issued EUR500,000,000 4.699% Fixed to Floating Rate Notes due 14 March 2028 under a £40,000,000,000 Euro Medium Term Note Programme[20]. Corporate Events - The company will host an Investor Spotlight event on its Climate strategy on 30 March 2023[28]. Share Value - The nominal value of ordinary shares is £1.0769, with a note indicating the precise value without rounding[29].