Business Context and Reporting Period
This Form 6-K filing by National Grid plc covers the period ending July 31, 2026. The registrant is a foreign private issuer incorporated in England and Wales. The filing primarily serves to disclose updates on total voting rights and transactions by Persons Discharging Managerial Responsibilities (PDMRs) in accordance with the Market Abuse Regulation (MAR).
Key Financial Metrics
The filing text does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only quantitative data provided relates to capital structure and specific share transactions:
- Registered Capital (as of June 30, 2026): 5,198,968,690 ordinary shares.
- Treasury Shares: 223,090,607.
- Voting Rights Denominator: 4,975,878,083 shares.
- Share Prices (Transaction Specific): Ranged from GBP 11.977 to GBP 12.3966 for ordinary shares and USD 80.5453 for American Depositary Shares (ADS) during July 2026.
Material Changes
No material changes to the company's financial performance or operational status are reported in this filing. The document focuses on:
- Confirmation of the share count used for regulatory disclosure thresholds.
- Execution of the 2023 Long Term Performance Plan (LTPP) awards.
- Implementation of the 2025/26 final dividend scrip alternative and dividend reinvestments.
Guidance, Outlook, and Management Commentary
The filing contains no forward-looking guidance, management commentary on future outlook, or discussion of risks and contingencies. It is a compliance filing detailing specific share movements for the following PDMRs:
- Andy Agg (Chief Financial Officer): Acquired 220,905 shares (nil cost) under the 2023 LTPP; sold 104,191 shares at GBP 12.21 to cover tax liabilities; purchased 13 shares at GBP 12.31 under the Share Incentive Plan; acquired 140 shares at GBP 12.40 via dividend reinvestment.
- Paula Rosput Reynolds (Chair): Acquired 82 ADS at USD 80.55 and 82 ordinary shares at GBP 11.98 under the Scrip Dividend Scheme.
Investor Verification Checklist
- Verify the voting rights denominator of 4,975,878,083 shares for calculating disclosure thresholds under FCA rules.
- Confirm the 2025/26 final dividend implementation details via the scrip alternative transactions noted for the Chair and CFO.
- Review the 2023 LTPP performance conditions referenced in the CFO's share acquisition to understand vesting criteria.
- Check the 2025/26 Annual Report and Accounts for full financial metrics, as this 6-K does not contain them.