MCDONALD ANDREW R. 4

What Happened

• Andrew R. McDonald, Global President & Chief Operating Officer of Cushman & Wakefield Ltd. (CWK), had previously awarded restricted stock units (RSUs) convert into common shares and received a new RSU grant. On Feb 27, 2026, 53,921 RSUs converted into 53,921 common shares. To cover tax withholding, 27,436 of those shares were surrendered/withheld at $13.41 per share, resulting in proceeds of about $367,917. Separately, on Feb 26, 2026 he was granted 138,989 new RSUs (no cash payment).

Key Details

• Transaction dates: RSU grant 2026-02-26; conversion/settlement and withholding 2026-02-27. Filing date: 2026-03-02 (timely).
• Conversion: 53,921 RSUs → 53,921 common shares (acquired at $0 per share as RSUs convert to stock).
• Tax withholding: 27,436 shares disposed at $13.41/share for ~$367,917 (code F — shares used to satisfy tax withholding).
• New grant: 138,989 RSUs granted 2026-02-26; vest in three substantially equal annual installments (subject to continued employment).
• Earlier RSU grant noted: 161,765 RSUs granted 2025-02-27 (vest schedule noted in filing).
• Shares owned after the transactions are not specified in the filing.

Context

• These transactions are RSU conversions/settlements and a new RSU award — not an open-market purchase or sale driven by market timing. The conversion is effectively a non-cash issuance (RSUs converting to shares) and the disposal reflects shares withheld to satisfy tax obligations (a routine administrative step, not an independent sale).