Ramsay Health Care director Natalie Davis gains shares from incentive award

Natalie Davis, a director at Ramsay Health Care Limited, increased her indirect interest in the company through the acquisition of 21,071 restricted ordinary shares. These shares were allocated on November 26, 2025, as part of Davis' FY25 short-term incentive award. The value of these shares was determined using a volume weighted average price of AUD$32.0351 from trading days up to October 15, 2025. Following this transaction, Davis now holds 21,071 restricted shares indirectly, pursuant to the terms of her incentive award.

Prior to this change, Davis held 57,472 performance rights that were not yet vested, and an indirect interest of 48,278 fully paid ordinary shares through the Ramsay Employee Equity Trust. Of these, 38,622 shares remained subject to vesting conditions and dealing restrictions, while 9,656 ordinary shares were unrestricted. The new acquisition adds to her indirect holdings, reflecting a component of her short-term incentive award.

The transaction involved an allocation of restricted ordinary shares from the Ramsay Employee Equity Trust. No direct interests were affected by this change, and the number of performance rights held by Davis remained constant. The acquisition occurred outside of a closed period, and no prior written clearance was required.