MACKAY MICHELLE 4
4 · Cushman & Wakefield Ltd. · Filed Feb 24, 2026
Research Summary
AI-generated summary of this filing
Cushman & Wakefield (CWK) CEO Michelle Mackay Converts RSUs, Sells 21k Shares
What Happened
Michelle Mackay, CEO of Cushman & Wakefield Ltd. (CWK), had 37,992 restricted stock units (RSUs) convert into common shares on Feb 23, 2026. Of those shares, 21,003 were disposed (withheld/sold) to cover tax obligations at $12.93 per share for a total value of $271,569. The conversion/issuance itself was recorded at $0.00 per share (no cash paid by the insider).
Key Details
- Transaction date: 2026-02-23; Form 4 filed 2026-02-24 (timely).
- Conversion: 37,992 RSUs converted into 37,992 common shares (code M, $0.00).
- Tax withholding/disposition: 21,003 shares withheld/disposed at $12.93 each = $271,569 (code F).
- Net shares retained from this vesting: 37,992 − 21,003 = 16,989 shares retained. Total shares owned after the filing are not reported on this Form 4.
- Footnotes: F1 notes conversion of previously awarded RSUs into shares under the 2018 Omnibus Plan; F2 notes the RSUs were granted 02/23/2023 and vest in three equal annual installments (this is a scheduled vesting event).
Context
This was a routine RSU vesting and tax-withholding transaction (cashless/stock withholding) rather than an open-market sale. Such withholding to satisfy tax liabilities is common and does not necessarily indicate a change in insider sentiment. The filing appears timely (next-day filing).
Insider Transaction Report
- Exercise/Conversion
Common Shares
[F1]2026-02-23+37,992→ 300,033 total - Tax Payment
Common Shares
2026-02-23$12.93/sh−21,003$271,569→ 279,030 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-02-23−37,992→ 0 total→ Common Shares (37,992 underlying)
Footnotes (2)
- [F1]Conversion of previously awarded restricted stock units ("RSUs") into an equal number of common shares, without the payment of any consideration, pursuant to the Fourth Amended & Restated 2018 Omnibus Management Share and Cash Incentive Plan.
- [F2]RSUs were granted on February 23, 2023 and vest in three (3) equal installments on each of the first three (3) anniversaries of the grant date, subject, with certain limited exceptions, to the reporting person's continuing employment through each such vesting date.