Form 4: Willis Towers Watson Executive Increases Stake Through Share and RSU Acquisitions

Anne Pullum, Head of Europe at Willis Towers Watson PLC, has acquired additional ordinary shares and restricted share units through dividend equivalents and company deferred compensation plans.

Summary

• Anne Pullum, Head of Europe at Willis Towers Watson PLC (WTW), reported changes in her beneficial ownership of company securities.
• On July 15, 2025, Pullum acquired 5.826 Ordinary Shares of WTW, nominal value $0 per share, at a price of $0. These shares represent dividend equivalent rights accrued on her time-based restricted share unit award.
• Following this transaction, Pullum beneficially owns 17,760.9766 Ordinary Shares.
• Additionally, on July 15, 2025, Pullum acquired 6.866 Restricted Share Units (RSUs) at a price of $0. These RSUs were acquired pursuant to the Willis Towers Watson Non-Qualified Deferred Savings Plan for U.S. Employees, including participant deferral and company matching contributions.
• These RSUs settle for Ordinary Shares on a 1:1 basis six months after Pullum's termination date.
• Pullum also acquired 2.6569 Restricted Share Units (RSUs) at a price of $0 on July 15, 2025. These were acquired pursuant to the Willis Towers Watson Non-Qualified Stable Value Excess Plan for U.S. Employees, including participant deferral and company matching contributions.
• These latter RSUs settle for Ordinary Shares 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) six months after Pullum's separation from service or (ii) 30 days after her death.
• After these transactions, Pullum beneficially owns 2,331.6949 RSUs under the Deferred Savings Plan and 881.6748 RSUs under the Stable Value Excess Plan.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive as it indicates an executive's increased stake in the company, aligning their interests with shareholders, even if the acquisitions are part of routine compensation plans.

Positives

• An executive increasing their beneficial ownership, even through compensation plans, can signal confidence in the company's future performance.
• The acquisition of shares and RSUs through dividend equivalents and company matching contributions indicates participation in long-term incentive plans, aligning executive interests with shareholder value.

Future Outlook

The document does not provide a future outlook or guidance beyond the vesting and settlement conditions for the acquired Restricted Share Units.

Industry Context

This Form 4 filing details an executive's acquisition of company shares and restricted share units, which is a routine disclosure for publicly traded companies. It reflects an individual executive's compensation and ownership structure rather than broader industry trends or competitive positioning.

Related Party Transactions

• Anne Pullum, Head of Europe, acquired additional Ordinary Shares and Restricted Share Units through dividend equivalent rights and participation in the Willis Towers Watson Non-Qualified Deferred Savings Plan and Non-Qualified Stable Value Excess Plan for U.S. Employees.

Stakeholder Impact

• Shareholders: Increased insider ownership may be viewed positively as it aligns management's interests with shareholder value.
• Employees: The disclosure highlights the company's executive compensation and deferred savings plans, which could be relevant to other employees participating in similar programs.

Next Steps

• The acquired Restricted Share Units from the Non-Qualified Deferred Savings Plan will settle for Ordinary Shares six months after Anne Pullum's termination date.
• The acquired Restricted Share Units from the Non-Qualified Stable Value Excess Plan will settle for Ordinary Shares on the first business day of the month on which the NASDAQ Stock Market is open for business, following the earlier of (i) six months after Anne Pullum's separation from service or (ii) 30 days after her death.

Key Dates

Keywords

Willis Towers Watson, WTW, SEC Form 4, Insider Trading, Beneficial Ownership, Restricted Share Units, RSU, Executive Compensation, Dividend Equivalent Rights, Deferred Savings Plan, Stable Value Excess Plan