Willis Towers Watson: Kristy D. Banas acquires 5 shares

The restricted units settle 1:1 for ordinary shares, with the Excess Plan terms also tying settlement to death.

Rhea-AI Filing Summary

Willis Towers Watson plc Chief Human Resources Officer Kristy D. Banas reported acquiring 5 ordinary shares and restricted share units representing 4 and 2 ordinary shares on October 15, 2026. The ordinary-share amount corrects a nominal overstatement in a prior dividend; her reported direct ordinary-share holdings afterward were 11,368. The restricted units arose under the Non-Qualified Deferred Savings Plan and Non-Qualified Stable Value Excess Plan, respectively.

Insider Trade Summary

Grant/Award: 10.6296 shares

Grant/Award 3 txns

Insider Banas Kristy D

Role Chief Human Resources Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Share Unit F3, F4	4.1392	$0.00	$0.00
Grant/Award	Restricted Share Unit F5, F6	1.7204	$0.00	$0.00
Grant/Award	Ordinary Shares, nominal value $0.000304635 per share F1, F2	4.77	$0.00	$0.00

Holdings After Transaction: Restricted Share Unit — 1,944.6359 contracts (Direct); Ordinary Shares, nominal value $0.000304635 per share — 11,368.4938 shares (Direct)

Footnotes (6)

1. F1. The dividend equivalent rights accrued on the reporting person's previously reported restricted share unit awards and will vest based on the same vesting schedule applicable to the underlying award. Each dividend equivalent right is the economic equivalent of one WTW Ordinary Share.
2. F2. Amount corrects a nominal overstatement of the number of shares received in a prior dividend.
3. F3. 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.
4. F4. 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.
5. F5. 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.
6. F6. 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.

Key Figures

Ordinary shares acquired: 5 shares Deferred Savings Plan restricted share units: 4 restricted share units Excess Plan restricted share units: 2 restricted share units +1 more

4 metrics

Ordinary shares acquired 5 shares October 15, 2026; reported direct holdings afterward were 11,368 ordinary shares

Deferred Savings Plan restricted share units 4 restricted share units Acquired October 15, 2026

Excess Plan restricted share units 2 restricted share units Acquired October 15, 2026

Direct ordinary-share holdings after transaction 11,368 shares Reported after the October 15, 2026 transaction

Key Terms

dividend equivalent rights, restricted share units, Non-Qualified Deferred Savings Plan, Non-Qualified Stable Value Excess Plan

4 terms

dividend equivalent rights financial

"The dividend equivalent rights accrued on the reporting person's previously reported restricted share unit awards"

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.

restricted share units financial

"Restricted share units settle for Ordinary Shares"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

Non-Qualified Deferred Savings Plan financial

"pursuant to the Willis Towers Watson Non-Qualified Deferred Savings Plan for U.S. Employees"

Non-Qualified Stable Value Excess Plan financial

"under the Willis Towers Watson Non-Qualified Stable Value Excess Plan for U.S. Employees"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares and restricted share units did WTW Chief Human Resources Officer Kristy D. Banas acquire?

Kristy D. Banas reported acquiring 5 ordinary shares, 4 restricted share units under the Deferred Savings Plan, and 2 restricted share units under the Excess Plan. Her reported direct holdings afterward were 11,368 ordinary shares.

When do the WTW restricted share units reported by Kristy D. Banas settle?

The Deferred Savings Plan units settle for ordinary shares on a 1:1 basis six months after termination. Vested Excess Plan units settle on a 1:1 basis on the first business day of the month in which NASDAQ is open following the earlier of six months after separation from service or 30 days after death.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/19/2026 - 04:01 PM EDT Accepted by SEC EDGAR 10/19/2026 - 04:01 PM EDT Learn about SEC filing dates

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^*

Banas Kristy D

(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)
	Chief Human Resources Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2026

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)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares, nominal value $0.000304635 per share	10/15/2026		A		4.77(1)	A	$0	11,368.4938(2)	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	(3)	10/15/2026		A		4.1392(4)		(3)	(3)	Ordinary Shares, nominal value $0.000304635 per share	4.1392	$0	1,384.5438	D
Restricted Share Unit	(5)	10/15/2026		A		1.7204(6)		(5)	(5)	Ordinary Shares, nominal value $0.000304635 per share	1.7204	$0	560.0921	D

Explanation of Responses:

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

2. Amount corrects a nominal overstatement of the number of shares received in a prior dividend.

3. 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.

4. 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.

5. 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.

6. 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/ Kristy D. Banas by Gary Pang, Attorney-in-Fact (power of attorney previously filed)	10/19/2026
	** 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)