rbs201403076k2.htm
 
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549

 
 
Report of Foreign Private Issuer
 
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
 
For March 07, 2014
 
Commission File Number: 001-10306

 
The Royal Bank of Scotland Group plc

 
RBS, Gogarburn, PO Box 1000
Edinburgh EH12 1HQ

 
(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 X
  
Form 40-F ___
 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):_________

 
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):_________


Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.


Yes
   ___
No X
 
 
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________

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

 

 
 
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
 
 
 

Signatures


 
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.







 
 
Date: 07 March 2014
 
 
THE ROYAL BANK OF SCOTLAND GROUP plc (Registrant)
 
 
 
By:
/s/ Jan Cargill
 
 
Name:
Title:
Jan Cargill
Deputy Secretary