WTW (WTW) Risk & Broking president receives 35.758 dividend-equivalent shares

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Clarke Lucy reported acquisition or exercise transactions in this Form 4 filing.

Willis Towers Watson executive Lucy Clarke, President of Risk & Broking, received a compensation-related award of 35.758 ordinary shares on April 15, 2026. The shares were granted at a stated price of $0.0000 per share, increasing her directly held stake to 19,285.953 ordinary shares.

The footnote explains that these shares represent dividend equivalent rights tied to an existing restricted share unit award, vesting on the same schedule. Each dividend equivalent right is economically equivalent to one WTW ordinary share, reinforcing that this is part of ongoing equity compensation rather than an open-market purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Clarke Lucy

Role President of Risk & Broking

Type	Security	Shares	Price	Value
Grant/Award	Ordinary Shares, nominal value $0.000304635 per share	35.758	$0.00	--

Holdings After Transaction: Ordinary Shares, nominal value $0.000304635 per share — 19,285.953 shares (Direct)

Footnotes (1)

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Key Figures

Shares granted: 35.758 shares Price per share: $0.0000 per share Shares owned after: 19,285.953 shares

3 metrics

Shares granted 35.758 shares Compensation-related grant on April 15, 2026

Price per share $0.0000 per share Stated grant price for awarded ordinary shares

Shares owned after 19,285.953 shares Direct holdings following the reported transaction

Key Terms

dividend equivalent rights, restricted share unit award, economically equivalent, Ordinary Shares

4 terms

dividend equivalent rights financial

"The dividend equivalent rights accrued on the reporting person's restricted share unit award"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

economically equivalent financial

"Each dividend equivalent right is the economic equivalent of one WTW Ordinary Share"

Ordinary Shares financial

"Ordinary Shares, nominal value $0.000304635 per share"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

Form 4 Insider Transactions: What Each Field Means →

04/17/2026 - 04:43 PM

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Clarke Lucy

(Last)

(First)

(Middle)

C/O WILLIS GROUP LIMITED

51 LIME STREET

(Street)

LONDON

EC3M 7DQ

(City)

(State)

(Zip)

UNITED KINGDOM

(Country)

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)
	President of Risk & Broking

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary Shares, nominal value $0.000304635 per share	04/15/2026		A		35.758⁽¹⁾	A	$0	19,285.953	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The dividend equivalent rights accrued on the reporting person's restricted share unit award and 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.

	/s/ Lucy Clarke by Gary Pang, Attorney-in-Fact (power of attorney previously filed)	04/17/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did WTW executive Lucy Clarke report on this Form 4 for WTW?

Lucy Clarke reported receiving 35.758 Willis Towers Watson ordinary shares as a compensation-related award. These shares stem from dividend equivalent rights linked to a restricted share unit award and increased her directly held position to 19,285.953 shares.

Was Lucy Clarke’s WTW Form 4 transaction a market purchase or a grant?

The Form 4 shows a grant, not a market purchase. Clarke received 35.758 ordinary shares coded as an acquisition from a grant or award at a stated price of $0.0000 per share, reflecting equity compensation rather than buying shares in the market.

How many WTW shares does Lucy Clarke hold after this reported transaction?

After the reported transaction, Lucy Clarke directly holds 19,285.953 Willis Towers Watson ordinary shares. This total includes the 35.758 shares received on April 15, 2026, as dividend equivalent rights tied to a restricted share unit award.

What are dividend equivalent rights in Lucy Clarke’s WTW equity award?

Dividend equivalent rights give Clarke additional value tied to dividends on her restricted share units. For this award, each dividend equivalent right is economically equivalent to one WTW ordinary share and vests on the same schedule as the underlying restricted share unit award.

What role does Lucy Clarke hold at Willis Towers Watson (WTW)?

Lucy Clarke serves as President of Risk & Broking at Willis Towers Watson. The Form 4 identifies her as an officer of the company and reflects equity-based compensation consistent with her senior executive role, rather than open-market trading activity in WTW shares.