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Dealings in Securities by Executive Directors, Prescribed Officers and Company Secretary: Vesting
NEDBANK GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1966/010630/06
JSE share code: NED
NSX share code: NBK
ISIN: ZAE000004875
JSE alpha code: NEDI
(Nedbank Group)
DEALINGS IN SECURITIES BY EXECUTIVE DIRECTORS, PRESCRIBED OFFICERS AND COMPANY
SECRETARY: VESTING OF RESTRICTED SHARES PREVIOUSLY ALLOCATED IN 2022
The following information is disclosed in respect of the vesting of Nedbank Group restricted shares
previously granted to the executive directors, prescribed officers and the company secretary of
Nedbank Group in terms of the Nedbank Group (2005) Share Option, Matched Share and Restricted
Share Scheme (Scheme).
This is a voluntary announcement as these vestings are not classified as dealings in terms of the JSE
Listings Requirements.
Restricted shares (being Nedbank Group ordinary shares) are issued at no cost to eligible employees
and are fully taxable and subject to the deduction of PAYE at the time of vesting. Participants are
entitled to the dividends paid on all restricted shares from the date the award is allocated.
Restricted share allocations to executive directors and prescribed officers (and all other Group Exco
members) were all awarded with performance-based vesting criteria. The executive directors and
prescribed officers are entitled to 60.5% of the restricted shares which were allocated on 17 March
2022 and which vested on 18 March 2025. The company secretary was awarded restricted shares with
both performance-based and time-based vesting criteria. She is entitled to 61.3% of the performance-
based restricted shares which were allocated on 17 March 2022 and which vested on 18 March 2025,
and 100% of the time-based restricted shares which were allocated on 18 March 2022 and which vested
on 19 March 2025. From March 2023, restricted share allocations to cluster exco members carry 100%
performance-based vesting criteria.
---
Name: MC Nkuhlu
Capacity: Chief Operating Officer
Date of transaction (vesting date): 18 March 2025
Vesting price per share: R267.04
Number of securities: 34 665
Total value: R9 256 941.60
Nature of transaction: 60.5% vesting of performance-based restricted
shares in terms of participation Scheme
Inception date: 17 March 2022
Nature of trade: Off market
Extent of interest: Direct beneficial
---
Name: MH Davis
Capacity: Chief Financial Officer
Vesting date: 18 March 2025
Vesting price per share: R267.04
Number of securities: 27 732
Total value: R7 405 553.28
Nature of transaction: 60.5% vesting of performance-based restricted
shares in terms of participation in the Scheme
Inception date: 17 March 2022
Nature of trade: Off market
Extent of interest: Direct beneficial
---
Name: A Bosman
Capacity: Prescribed officer (Group Managing Executive:
Corporate & Investment Banking)
Vesting date: 18 March 2025
Vesting price per share: R267.04
Number of securities: 26 346
Total value: R7 035 435.84
Nature of transaction: 60.5% vesting of performance-based restricted
shares in terms of participation in the Share
Scheme
Inception date: 17 March 2022
Nature of trade: Off market
Extent of interest: Direct beneficial
---
Name: I Ruggiero
Capacity: Prescribed officer (Group Managing Executive:
Nedbank Wealth)
Vesting date: 18 March 2025
Vesting price per share: R267.04
Number of securities: 20 799
Total value: R5 554 164.96
Nature of transaction: 60.5% vesting of performance-based restricted
shares in terms of participation in the Scheme
Inception date: 17 March 2022
Nature of trade: Off market
Extent of interest: Direct beneficial
---
Name: TG Sibiya
Capacity: Prescribed officer (Group Managing Executive:
Nedbank Africa Regions)
Vesting date: 18 March 2025
Vesting price per share: R267.04
Number of securities: 22 186
Total value: R5 924 549.44
Nature of transaction: 60.5% vesting of performance-based restricted
shares in terms of participation in the Scheme
Inception date: 17 March 2022
Nature of trade: Off market
Extent of interest: Direct beneficial
---
Name: CJ Thomas
Capacity: Prescribed officer (Group Managing Executive:
Retail and Business Banking)
Vesting date: 18 March 2025
Vesting price per share: R267.04
Number of securities: 27 732
Total value: R7 405 553.28
Nature of transaction: 60.5% vesting of performance-based restricted
shares in terms of participation in the Scheme
Inception date: 17 March 2022
Nature of trade: Off market
Extent of interest: Direct beneficial
---
Name: J Katzin
Capacity: Company secretary
Vesting date: 18 March 2025
Vesting price per share: R267.04
Number of securities: 3 161
Total value: R844 113.44
Nature of transaction: 61.3% vesting of performance-based restricted
shares in terms of participation in the Scheme
Inception date: 17 March 2022
Nature of trade: Off market
Extent of interest: Direct beneficial
Vesting date: 19 March 2025
Vesting price per share: R264.65
Number of securities: 1 719
Total value: R454 933.35
Nature of transaction: 100% vesting of time-based restricted shares in
terms of participation in the Scheme
Inception date: 18 March 2022
Nature of trade: Off market
Extent of interest: Direct beneficial
---
As a result of the pre-determined corporate performance conditions not all being fully met in respect
of the performance-based restricted shares allocated on 17 March 2022, the following restricted
Nedbank Group ordinary shares held by the executive directors, prescribed officers and company
secretary of Nedbank Group were forfeited on 18 March 2025:
Name Designation Number of Notional Total notional
restricted value of loss value
shares per share on forfeited
forfeited forfeiture
MH Davis Chief Financial Officer 18 105 R267.04 R4 834 759.20
MC Nkuhlu Chief Operating Officer 22 632 R267.04 R6 043 649.28
A Bosman Prescribed Officer 17 200 R267.04 R4 593 088.00
I Ruggiero Prescribed Officer 13 579 R267.04 R3 626 136.16
TG Sibiya Prescribed Officer 14 484 R267.04 R3 867 807.36
CJ Thomas Prescribed Officer 18 105 R267.04 R4 834 759.20
J Katzin Company Secretary 1 995 R267.04 R532 744.80
The required prior written clearance was obtained when the awards were initially granted in 2022.
Sandton
25 March 2025
Sponsors to Nedbank Group in South Africa:
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Sponsor to Nedbank Group in Namibia:
Old Mutual Investment Services (Namibia) (Pty) Limited
Date: 25-03-2025 05:30:00
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