Julie J. Gebauer - Apr 1, 2023 Form 4 Insider Report for WILLIS TOWERS WATSON PLC (WTW)

Role: Head of Health, Wealth &Career
Signature: /s/ Julie J. Gebauer by Elaine Wiggins, Attorney-in-Fact (power of attorney previously filed)
Stock symbol: WTW
Transactions as of: Apr 1, 2023
Transactions value $: -$580,941
Form type: 4
Date filed: 4/4/2023, 05:08 PM
Previous filing: Mar 2, 2023
Next filing: Apr 10, 2023

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	Award	$0	+1.4K	+1.69%	$0.00	83.9K	Apr 1, 2023	Direct	F1
transaction	WTW	Ordinary Shares, nominal value $0.000304635 per share	Exercise of in-the-money or at-the-money derivative security	$0	+4	+0%	$0.00	84K	Apr 1, 2023	Direct
transaction	WTW	Ordinary Shares, nominal value $0.000304635 per share	Award	$0	+860	+1.02%	$0.00	84.8K	Apr 1, 2023	Direct	F2
transaction	WTW	Ordinary Shares, nominal value $0.000304635 per share	Sale	-$581K	-2.5K	-2.95%	$232.38	82.3K	Apr 3, 2023	Direct	F3, F4
holding	WTW	Ordinary Shares, nominal value $0.000304635 per share						534	Apr 1, 2023	Dane Adam Gebauer Management Trust UA Feb 18, 2012
holding	WTW	Ordinary Shares, nominal value $0.000304635 per share						534	Apr 1, 2023	Jeffrey Austin Gebauer Management Trust UA Feb 18, 2012

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	Exercise of in-the-money or at-the-money derivative security	$0	-4	-30.42%	$0.00	9.15	Apr 1, 2023	Ordinary Shares, nominal value $0.000304635 per share	4		Direct	F5

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

Explanation of Responses:

Id	Content
F1	Comprised of 1,398 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.
F2	Comprised of 860 time-based 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 two-year period as of the first and second anniversaries of the grant date.
F3	The sales reported in this Form 4 were pursuant to a Rule 10b5-1 trading plan adopted by the reporting person during an open trading window in a prior quarter.
F4	This transaction was executed in multiple trades at prices ranging from $232.09 to $232.8845. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
F5	The dividend equivalent rights accrued on the reporting person's RSU award and were credited in the form of additional RSUs that vested and were payable at the same time as the underlying RSUs. Each dividend equivalent right is the economic equivalent of one WTW Ordinary Share.