Willis Towers Watson officer reports non-cash RSU accruals

Rhea-AI Filing Summary

Willis Towers Watson (WTW) officer (PAO and Controller) reported routine equity compensation activity. On 10/15/2025, the filer acquired 0.486 Ordinary Shares at $0 via dividend equivalent rights. Following this, the filer beneficially owned 1,204.829 Ordinary Shares directly.

Derivative awards reflect dividend credits to restricted share units: 0.9335 RSUs (Non‑Qualified Deferred Savings Plan) and 1.1841 RSUs (Non‑Qualified Stable Value Excess Plan), each at $0. RSUs settle into Ordinary Shares on a 1:1 basis per plan terms. Dividend equivalent rights on time‑based RSUs vest on the same schedule as the underlying awards. Deferred Savings Plan RSUs settle 6 months after termination, and Excess Plan RSUs settle on the first business day of the month after the earlier of 6 months post‑separation or 30 days after death.

Insights

Equity compensation analyst

Routine Form 4 with small, non-cash RSU dividend credits.

The filing records administrative equity movements tied to compensation plans on 10/15/2025. The reporter acquired 0.486 Ordinary Shares via dividend equivalents and small RSU dividend credits of 0.9335 and 1.1841 units under established non-qualified plans. These entries occur at $0 price, indicating non-cash accruals.

Settlement mechanics are standard: RSUs convert to Ordinary Shares on a 1:1 basis under plan-specific schedules. Dividend equivalents vest in line with the underlying time-based RSUs, which anchors timing to the original vesting cadence.

This is typically not thesis-changing. Actual impact depends on future vesting and settlement under plan terms.

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^*

Kurpis Joseph Stephen

(Last) (First) (Middle)

C/O WILLIS GROUP LIMITED

51 LIME STREET

(Street)

LONDON X0 EC3M 7DQ

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WILLIS TOWERS WATSON PLC [ WTW ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PAO and Controller

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2025

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
Ordinary Shares, nominal value $0.000304635 per share	10/15/2025		A		0.486(1)	A	$0	1,204.829	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 Share Unit	(2)	10/15/2025		A		0.9335(3)		(2)	(2)	Ordinary Shares, nominal value $0.000304635 per share	0.9335	$0	378.7165	D
Restricted Share Unit	(4)	10/15/2025		A		1.1841(5)		(4)	(4)	Ordinary Shares, nominal value $0.000304635 per share	1.1841	$0	438.0174	D

Explanation of Responses:

1. The dividend equivalent rights accrued on the reporting person's time-based restricted share unit award and will vest based on the same vesting schedule applicable to the underlying restricted share unit award. Each dividend equivalent right is the economic equivalent of one WTW Ordinary Share.

2. Restricted share units settle for Ordinary Shares, nominal value $0.000304635 per share, on a 1:1 basis 6 months after the reporting person's termination date.

3. Represents dividends acquired pursuant to the Willis Towers Watson Non-Qualified Deferred Savings Plan for U.S. Employees (the "Plan"), including the participant's deferral election under the Plan and the Company's matching contribution on the participant's deferral election credited to the participant's account in the form of restricted share units under the Plan.

4. Vested shares under the Willis Towers Watson Non-Qualified Stable Value Excess Plan for U.S. Employees settle for Ordinary Shares, nominal value $0.000304635 per share, on a 1:1 basis on the first business day of the month on which the NASDAQ Stock Market is open for business following the earlier of (i) the date that is 6 months after the reporting person's separation from service and (ii) the date that is 30 days after the reporting person's death.

5. Represents dividends acquired pursuant to the Willis Towers Watson Non-Qualified Stable Value Excess Plan for U.S. Employees (the "Excess Plan"), including the participant's deferral election under the Excess Plan and the Company's matching contribution on the participant's deferral election credited to the participant's account in the form of restricted share units under the Excess Plan.

	/s/ Joseph S. Kurpis by Gary Pang, Attorney-in-Fact (power of attorney previously filed)	10/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did WTW's officer report on the Form 4 dated 10/15/2025?

The officer reported acquiring 0.486 Ordinary Shares via dividend equivalents and small RSU dividend credits of 0.9335 and 1.1841 units at $0.

How many WTW Ordinary Shares were owned after the transaction?

Following the transaction, the filer directly owned 1,204.829 Ordinary Shares.

What plans are referenced in the WTW Form 4?

The filing references the Non-Qualified Deferred Savings Plan and the Non-Qualified Stable Value Excess Plan for U.S. Employees.

How do WTW RSUs settle according to the filing?

RSUs settle for Ordinary Shares on a 1:1 basis per plan: Deferred Savings Plan after 6 months post-termination; Excess Plan on the first business day of the month after the earlier of 6 months post-separation or 30 days after death.

Do the dividend equivalent rights vest immediately?

Dividend equivalent rights vest on the same schedule as the underlying time-based RSU award.

Was there any cash consideration in these transactions?

No. The reported acquisitions occurred at $0, reflecting non-cash dividend credits and plan accruals.