Cushman & Wakefield (CWK) insider RSU vesting and tax share disposal

Rhea-AI Filing Summary

Cushman & Wakefield Ltd. officer Noelle J. Perkins reported the vesting of previously granted restricted stock units. On February 22, 2026, 14,985 RSUs converted into an equal number of common shares at $0.00 per share under the company's 2018 Omnibus Management Share and Cash Incentive Plan.

As part of the same event, 4,755 common shares were automatically withheld at a price of $13.33 per share to cover tax obligations, leaving Perkins with 63,065 common shares held directly after the transactions. The RSUs were originally granted on February 22, 2024 and vest in three equal annual installments, subject to continued employment.

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

OMB APPROVAL

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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)
02/22/2026

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	02/22/2026		M		14,985	A	$0(1)	67,820	D
Common Shares	02/22/2026		F		4,755	D	$13.33	63,065	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	(1)	02/22/2026		M			14,985	(2)	(2)	Common Shares	14,985	$0	14,985	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.

2. RSUs were granted on February 22, 2024 and vest 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.

Remarks:

Executive Vice President, Chief Legal Officer & Secretary

	/s/ Noelle Perkins	02/24/2026
	** 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 activity did Cushman & Wakefield (CWK) report for Noelle J. Perkins?

Cushman & Wakefield reported that officer Noelle J. Perkins had 14,985 restricted stock units convert into common shares. In the same event, 4,755 shares were withheld to satisfy tax obligations, reflecting routine equity compensation vesting rather than an open-market purchase or sale.

How many Cushman & Wakefield (CWK) RSUs vested for Noelle J. Perkins?

A total of 14,985 restricted stock units vested and converted into an equal number of Cushman & Wakefield common shares. These RSUs were granted on February 22, 2024, and are scheduled to vest in three equal annual installments, subject to continued employment conditions.

Why were some Cushman & Wakefield (CWK) shares disposed of in this Form 4?

The Form 4 shows 4,755 Cushman & Wakefield common shares disposed of under transaction code F. This represents shares withheld at $13.33 per share to pay tax liabilities arising from the RSU vesting, not an open-market sale by the officer.

What is Noelle J. Perkins’ Cushman & Wakefield (CWK) share ownership after these transactions?

After the reported transactions, Noelle J. Perkins directly owns 63,065 Cushman & Wakefield common shares. This figure reflects the RSU conversion adding 14,985 shares and the tax withholding of 4,755 shares, as detailed in the Form 4 ownership tables.

How do the Cushman & Wakefield (CWK) RSUs for Noelle J. Perkins vest over time?

The RSUs granted to Noelle J. Perkins on February 22, 2024 vest in three equal installments on each of the first three anniversaries of the grant date. Vesting is generally conditioned on her continued employment through each applicable vesting date.