Perkins Noelle J 4

What Happened

• Noelle J. Perkins, Executive Vice President, Chief Legal Officer & Secretary of Cushman & Wakefield Ltd. (CWK), had restricted stock units (RSUs) convert into common shares on July 1, 2026. The filing shows conversions (exercise/convert derivative (M)) totaling 193,766 shares (30,563 + 163,203).
• To cover tax withholding obligations (code F), Perkins had 85,839 shares surrendered at $13.84 each (13,540 + 72,299) for a tax-withholding value of about $1,188,012. The filing also lists a 30,563-share derivative disposal at $0 related to the conversion mechanics.
• This was not an open-market purchase or cash sale of newly acquired shares; it reflects RSU vesting/conversion and routine withholding to satisfy tax obligations.

Key Details

• Transaction date: July 1, 2026; Form 4 filed July 6, 2026 (filed after the 2-business-day deadline).
• Withholding price: $13.84 per share; tax-withheld value ≈ $1,188,012 (total of two withholding entries: $187,394 and $1,000,618).
• Shares acquired via conversion: 193,766; shares surrendered for tax withholding: 85,839.
• Shares owned following the reported transactions: not stated in the provided filing excerpt.
• Footnotes: conversions reflect RSU awards under the Fourth Amended & Restated 2018 Omnibus Plan; some awards were performance-based for the 2023–2025 period and/or vest per a multi-year schedule (see F1–F3).
• Filing timeliness: filed July 6 for July 1 transactions — later than the standard 2-business-day Form 4 deadline.

Context

• These entries represent RSU conversions (award vesting) and share withholding to satisfy tax liabilities — routine compensation events for executives, not a market buy or directional sell signal.
• The presence of performance-based RSUs (F2) indicates part of the converted shares were earned based on company performance for 2023–2025.