MILLAY ROGER F 4
4 · WILLIS TOWERS WATSON PLC · Filed Sep 19, 2017
Insider Transaction Report
Form 4
MILLAY ROGER F
Chief Financial Officer
Transactions
- Award
Ordinary Shares, nominal value $0.000304635 per share
2017-09-15+17,558→ 31,617 total - Tax Payment
Ordinary Shares, nominal value $0.000304635 per share
2017-09-15$152.42/sh−8,938$1,362,330→ 22,679 total
Footnotes (2)
- [F1]The 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.
- [F2]This represents shares that were withheld by the Issuer to satisfy local withholding tax requirements.