PAGAC Drone Holding GP I Ltd - Jun 8, 2023 Form 4 Insider Report for Cushman & Wakefield plc (CWK)

Role
10%+ Owner
Signature
/s/ Nick Yu
Stock symbol
CWK
Transactions as of
Jun 8, 2023
Transactions value $
-$25,875,000
Form type
4
Date filed
6/8/2023, 05:49 PM
Previous filing
Jun 1, 2022
Next filing
Aug 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CWK Ordinary Shares, $0.10 nominal value per share Sale -$25.9M -3M -11.67% $8.63 22.7M Jun 8, 2023 Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person is the general partner of PAGAC Drone Holding I LP ("PAGAC" and, together with the Reporting Person, the "PAG Entities").
F2 PAGAC is the direct holder of 22,717,475 Ordinary Shares ("Ordinary Shares") of Cushman & Wakefield plc (the "Issuer").
F3 Messrs. Jon Robert Lewis, David Jaemin Kim, Noel Walsh and Oliver Morris have been delegated, in accordance with certain proxy voting guidelines, the authority to implement voting decisions and the authority to implement disposition decisions with respect to shares indirectly held by PAGAC Drone Holding GP I Limited, including the 22,717,475 ordinary shares. Each of Messrs. Lewis, Kim, Walsh and Morris expressly disclaims beneficial ownership of such shares.
F4 The PAG Entities entered into a Stockholders Agreement, dated as of August 6, 2018, with certain other holders (the "Holders") of Ordinary Shares. Pursuant to the Stockholders Agreement, the PAG Entities and the Holders have agreed to, among other things, vote their Ordinary Shares to elect members of the Board of Directors of the Issuer as set forth therein. Because of the relationship between the PAG Entities and the Holders as a result of the Stockholders Agreement, the Reporting Person may be deemed, pursuant to Rule 13d-3 under the Act, to beneficially own the Ordinary Shares beneficially owned by the Holders. The Reporting Person and each PAG Entity disclaims beneficial ownership of the Ordinary Shares beneficially owned by the Holders, except to the extent of its pecuniary interest therein, if any.