SEC Form 4 · accession 0001127602-17-027726
WILLIS TOWERS WATSON PLC · WTW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul G Morris
Officer — Head of Western Europe
Period of report
Sep 15, 2017
Accepted (ET)
Sep 19, 2017 · 4:07 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001140536
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Ordinary Shares, nominal value $0.000304635 per shareF1 | Sep 15, 2017 | A | 16,228 | $0.00 | A | 39,210 | D | |
| Ordinary Shares, nominal value $0.000304635 per shareF2 | Sep 15, 2017 | F | 7,627 | $152.42 | D | 31,583 | D | |
| Ordinary Shares, nominal value $0.000304635 per share | holding | — | — | — | 5,925 | I | Account of Deborah Morris, spouse |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The Reporting Person was granted unvested performance-vesting restricted share units (PVRSUs) on September 25, 2013, which vest over a three-year performance period to the extent that certain predetermined performance criteria are achieved and based on the Reporting Person's continued employment with the Issuer. Pursuant to the terms of the applicable award agreement, the award's performance in the event of a Change in Control occurring during the performance period was considered to be the greater of target or actual performance at the time of the Change in Control. As the PVRSUs were accruing at 204% at the time of the Willis Towers Watson merger, that level of performance was locked in upon the closing of the merger. The PVRSUs thereafter vested and were settled in shares on September 15, 2017 and are reported herein. The number of PVRSUs that vested includes additional restricted share units granted as a result of the special dividend declared by Towers Watson on December 29, 2015.
- F2This represents shares that were withheld by the Issuer to satisfy local withholding tax requirements.