Cushman & Wakefield (CWK) officer logs RSU grant, conversion and tax share disposal

Rhea-AI Filing Summary

Cushman & Wakefield Ltd. officer Andrew R. McDonald reported equity compensation activity and related tax withholding. He received a grant of 138,989 restricted stock units (RSUs) on February 26, 2026 under the Fourth Amended & Restated 2018 Omnibus Management Share and Cash Incentive Plan, which will vest in three substantially equal annual installments if he remains employed.

On February 27, 2026, 53,921 RSUs previously awarded converted into the same number of common shares without cash payment, and 27,436 common shares were disposed of at $13.41 per share to satisfy tax obligations. Following these transactions, he directly held 450,369 common shares and 138,989 RSUs.

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^*

MCDONALD ANDREW R.

(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		53,921	A	$0(1)	477,805	D
Common Shares	02/27/2026		F		27,436	D	$13.41	450,369	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		138,989		(3)	(3)	Common Shares	138,989	$0	138,989	D
Restricted Stock Units	(1)	02/27/2026		M			53,921	(4)	(4)	Common Shares	53,921	$0	107,844	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 138,989 RSUs which will vest and settle 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.

4. On February 27, 2025, the reporting person was granted 161,765 RSUs which will vest and settle 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:

Global President & Chief Operating Officer

	/s/ Noelle Perkins, attorney-in-fact	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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did Cushman & Wakefield (CWK) report for Andrew R. McDonald?

Andrew R. McDonald reported an RSU grant of 138,989 units, the conversion of 53,921 previously granted RSUs into common shares, and a disposal of 27,436 common shares to cover tax obligations, all tied to Cushman & Wakefield’s equity incentive plans.

How many restricted stock units did the CWK officer receive in the latest grant?

He received 138,989 restricted stock units. These RSUs were granted on February 26, 2026 and are scheduled to vest and settle in three substantially equal annual installments, subject to his continued employment on each vesting date under the company’s omnibus incentive plan.

How do the new RSUs for Cushman & Wakefield (CWK) vest for Andrew R. McDonald?

The 138,989 RSUs vest in three substantially equal installments. They are scheduled on each of the first three anniversaries of the February 26, 2026 grant date, and vesting generally requires the officer’s continued employment through each applicable anniversary to receive settled common shares.

What was the purpose of the 27,436 CWK common shares disposed of by the officer?

The 27,436 common shares were disposed of to cover tax obligations linked to equity compensation. They were delivered at a price of $13.41 per share as payment of tax liability in connection with the equity awards, rather than representing an open-market sale for investment purposes.

How many Cushman & Wakefield (CWK) common shares does Andrew R. McDonald hold after these transactions?

After the reported transactions, he directly holds 450,369 common shares. In addition, he holds 138,989 restricted stock units that can convert into an equal number of common shares in the future, subject to their vesting conditions and his continued employment with the company.

Did the Cushman & Wakefield (CWK) officer buy or sell shares on the open market?

The filing shows no open-market purchases or sales. Reported activity consists of RSU grants, conversion of previously awarded RSUs into common shares without cash payment, and a tax-withholding share disposition, where shares were delivered to satisfy tax liabilities tied to the equity awards.