Cushman & Wakefield (NYSE: CWK) officer receives RSUs, covers taxes

Rhea-AI Filing Summary

Cushman & Wakefield Ltd. officer Noelle J. Perkins reported equity compensation activity involving restricted stock units (RSUs) and common shares. On February 26, 2026, she was granted 39,711 RSUs, which will vest and settle in three equal annual installments, subject to continued employment.

On February 27, 2026, 15,406 RSUs previously awarded under the Fourth Amended & Restated 2018 Omnibus Management Share and Cash Incentive Plan converted into 15,406 common shares without cash payment, and 4,514 common shares were withheld at $13.41 per share to satisfy tax obligations.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Perkins Noelle J

(Last) (First) (Middle)

225 WEST WACKER DRIVE

SUITE 3000

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Cushman & Wakefield Ltd. [ CWK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	02/27/2026		M		15,406	A	$0(1)	78,471	D
Common Shares	02/27/2026		F		4,514	D	$13.41	73,957	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(2)	02/26/2026		A		39,711		(3)	(3)	Common Shares	39,711	$0	39,711	D
Restricted Stock Units	(1)	02/27/2026		M			15,406	(4)	(4)	Common Shares	15,406	$0	30,813	D

Explanation of Responses:

1. Conversion of previously awarded restricted stock units ("RSUs") into an equal number of common shares, without the payment of any consideration, pursuant to the Fourth Amended & Restated 2018 Omnibus Management Share and Cash Incentive Plan (the "Fourth A&R Omnibus Plan").

2. RSUs granted under the Fourth A&R Omnibus Plan convert into an equal number of common shares of Cushman & Wakefield Ltd.

3. On February 26, 2026, the reporting person was granted 39,711 RSUs which will vest and settle in three (3) equal installments on each of the first three (3) anniversaries of the grant date, subject, with certain limited exceptions, to the reporting person's continuing employment through each such vesting date.

4. RSUs were granted on February 27, 2025 and vest in three (3) substantially equal installments on each of the first three (3) anniversaries of the grant date, subject, with certain limited exceptions, to the reporting person's continuing employment through each such vesting date.

Remarks:

Executive Vice President, Chief Legal Officer & Secretary

	/s/ Noelle Perkins	03/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What equity awards did Cushman & Wakefield (CWK) officer Noelle Perkins receive?

Noelle Perkins received a grant of 39,711 restricted stock units (RSUs) on February 26, 2026. These RSUs were awarded under the Fourth Amended & Restated 2018 Omnibus Management Share and Cash Incentive Plan and represent a form of stock-based compensation.

How do the new RSUs for CWK’s Noelle Perkins vest and settle?

The 39,711 RSUs granted to Noelle Perkins vest and settle in three equal installments on each of the first three anniversaries of the February 26, 2026 grant date, generally requiring her continued employment through each vesting date to receive the shares.

What RSU conversion to common shares did CWK report for Noelle Perkins?

Cushman & Wakefield reported that 15,406 previously awarded RSUs converted into 15,406 common shares on February 27, 2026. The conversion occurred without any cash consideration, consistent with the terms of the company’s Fourth A&R Omnibus Plan.

Why were CWK shares disposed of in Noelle Perkins’ Form 4 filing?

The filing shows 4,514 common shares classified as a disposition under code F at $13.41 per share. These shares were withheld to pay tax liabilities associated with the RSU conversion, rather than being an open-market sale for investment purposes.

What is the significance of transaction code M in the CWK Form 4?

Transaction code M reflects the exercise or conversion of derivative securities. In this case, it marks the conversion of 15,406 RSUs into an equal number of Cushman & Wakefield common shares, consistent with the company’s omnibus incentive plan.

Under which plan were CWK RSUs for Noelle Perkins granted and converted?

Both the RSU grant and the RSU-to-share conversion occurred under Cushman & Wakefield’s Fourth Amended & Restated 2018 Omnibus Management Share and Cash Incentive Plan, which governs management equity awards and their settlement into common shares.