FRANCIS CHERYL A 4

What Happened
Cheryl A. Francis, a non-employee director of Aon plc, was granted 776 Class A ordinary shares on 2026-06-25 as part of the company’s annual director award. The issuer withheld 186.235 shares to satisfy tax obligations (reported disposition), valued at $58,841 using a withholding price of $315.95 per share. Net shares issued to the reporting person after withholding were approximately 589.765 shares. Under Irish law the director agreed to pay the nominal issue value of $0.01 per share.

Key Details

• Transaction date: 2026-06-25 (Form filed 2026-06-29).
• Grant type/code: A = Award/Grant of 776 Class A ordinary shares.
• Withholding/type/code: F = 186.235 shares withheld for taxes; price used $315.95; total value $58,841.
• Net shares retained from this award: ~589.765 shares (776 − 186.235).
• Shares owned after transaction: not disclosed in the filing.
• Footnotes: F1 — annual non-employee director grant; reporting person pays nominal $0.01/share per Irish law. F2 — shares withheld by issuer for tax payment.
• Filing timeliness: Filing dated 2026-06-29 for a 2026-06-25 transaction; appears to be a timely Form 4 filing.

Context
This was a customary equity award to a non-employee director, with a routine withholding of shares to cover taxes (a common cashless method). The withheld shares are not an open-market sale and generally should not be interpreted as a signal about the director’s view of the company. Monitor future Form 4s for any open-market purchases or sales by this director if you’re tracking insider sentiment.