Willis Towers Watson President of Risk & Broking Accrues Dividend Equivalent Rights

Executive Summary

On October 19, 2026, Willis Towers Watson plc ($WTW) filed a Form 4 disclosing that Lucy Clarke, President of Risk & Broking, acquired 37.861 Ordinary Shares (in the form of dividend equivalent rights) on October 15, 2026 at $0 per share.

Transaction Details

• Reporting Owner: Lucy Clarke
• Title: President of Risk & Broking
• Security: Ordinary Shares, nominal value $0.000304635 per share
• Transaction Type: Grant / Award (Code A)
• Shares Acquired: 37.861
• Price per Share: $0.00
• Post-Transaction Holdings: 20,878.588 shares (held directly)

Analysis & Significance

This transaction represents a routine non-open-market accrual of dividend equivalent rights on previously granted restricted share unit (RSU) awards. These rights vest subject to the same schedule as the underlying RSUs, with each right representing the economic equivalent of one ordinary share. Because this reflects an automatic dividend reinvestment/accrual rather than a discretionary purchase or sale, its trading significance is Low.