Kristy D. Banas - Apr 1, 2022 Form 4 Insider Report for WILLIS TOWERS WATSON PLC (WTW)

Role: Chief Human Resources Officer
Signature: /s/ Elaine Wiggins, Attorney-in-Fact for Kristy D. Banas (power of attorney previously filed)
Stock symbol: WTW
Transactions as of: Apr 1, 2022
Transactions value $: -$109,400
Form type: 4
Date filed: 4/5/2022, 04:02 PM
Previous filing: Feb 11, 2022
Next filing: Apr 19, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WTW	Ordinary Shares, nominal value $0.000304635 per share	Options Exercise		+481	+25.5%		2.37K	Apr 1, 2022	Direct	F1
transaction	WTW	Ordinary Shares, nominal value $0.000304635 per share	Disposed to Issuer	-$109K	-481	-20.32%	$227.62	1.88K	Apr 1, 2022	Direct
transaction	WTW	Ordinary Shares, nominal value $0.000304635 per share	Award	$0	+694	+36.82%	$0.00	2.58K	Apr 1, 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	WTW	Phantom Stock Unit	Options Exercise		-481	-100%		0	Apr 1, 2022	Ordinary Shares, nominal value $0.000304635 per share	481		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share underlying the phantom stock unit award was the economic equivalent of one WTW Ordinary Share. Dividend equivalent rights accrued under the phantom stock unit award in the form of additional phantom stock units that vested based on the same vesting schedule applicable to the underlying phantom stock unit award. Each dividend equivalent right that accrued in the form of phantom stock units was the economic equivalent of one WTW Ordinary Share. The phantom stock units, including the dividend equivalents, were settled in cash delivered to the Reporting Person.
F2	Comprised of 694 time-based restricted share units ("RSUs"), which represent the right to receive ordinary shares, par value $0.000304635 per share, of the Issuer. The RSUs shall vest ratably over a three-year period as of the first, second and third anniversaries of the grant date.

Content

Each share underlying the phantom stock unit award was the economic equivalent of one WTW Ordinary Share. Dividend equivalent rights accrued under the phantom stock unit award in the form of additional phantom stock units that vested based on the same vesting schedule applicable to the underlying phantom stock unit award. Each dividend equivalent right that accrued in the form of phantom stock units was the economic equivalent of one WTW Ordinary Share. The phantom stock units, including the dividend equivalents, were settled in cash delivered to the Reporting Person.

Comprised of 694 time-based restricted share units ("RSUs"), which represent the right to receive ordinary shares, par value $0.000304635 per share, of the Issuer. The RSUs shall vest ratably over a three-year period as of the first, second and third anniversaries of the grant date.