Adam Garrard - Jul 15, 2022 Form 4 Insider Report for WILLIS TOWERS WATSON PLC (WTW)

Role: Head of Risk & Broking
Signature: /s/ Adam Garrard by Elaine Wiggins, Attorney-in-Fact (power of attorney previously filed)
Stock symbol: WTW
Transactions as of: Jul 15, 2022
Transactions value $: $0
Form type: 4
Date filed: 7/19/2022, 04:09 PM
Previous filing: Apr 19, 2022
Next filing: Jul 22, 2022

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	Dividend Equivalent Rights	Award	$0	+13.8	+120.51%	$0.00	25.3	Jul 15, 2022	Ordinary Shares, nominal value $0.000304635 per share	13.8		Direct	F1
transaction	WTW	Dividend Equivalent Rights	Award	$0	+5.04		$0.00	5.04	Jul 15, 2022	Ordinary Shares, nominal value $0.000304635 per share	5.04		Direct	F2

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

Explanation of Responses:

Id	Content
F1	The dividend equivalent rights accrued on a number of performance-based restricted share units previously earned under the reporting person's performance-based restricted share unit award and credited in the form of additional restricted share units that vest and are payable at the same time as the underlying performance-based restricted share units. Each dividend equivalent right is the economic equivalent of one WTW Ordinary Share.
F2	The dividend equivalent rights accrued on a time-based restricted share unit award and will 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.

Content

The dividend equivalent rights accrued on a number of performance-based restricted share units previously earned under the reporting person's performance-based restricted share unit award and credited in the form of additional restricted share units that vest and are payable at the same time as the underlying performance-based restricted share units. Each dividend equivalent right is the economic equivalent of one WTW Ordinary Share.

The dividend equivalent rights accrued on a time-based restricted share unit award and will 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.