Tamara Ingram awarded 32.8 RSUs under MMC directors plan

Rhea-AI Filing Summary

Marsh & McLennan Companies director Tamara Ingram reported acquisition of 32.8 restricted stock units under the company's Directors Stock Compensation Plan, treated as converting 1-for-1 into common stock. The units were acquired via dividend equivalents and are recorded with a per-share reference price of $208.055. After this grant the reporting person’s beneficial ownership is shown as 7,616.23 shares (direct).

The Form 4 discloses a routine compensation-related grant to a director rather than an open-market trade, indicating equity received as part of director pay rather than a purchase or sale.

Insights

Corporate Governance Expert

TL;DR Director received a small, routine equity grant via dividend equivalents under the director compensation plan; this is standard governance practice.

The reported acquisition of 32.8 restricted stock units reflects compensation delivered as equity to align the director with shareholder interests. The units convert 1-for-1 to common shares and were credited as dividend equivalents, which is a customary mechanism to provide equity value tied to dividends. The transaction appears administrative and non-material relative to outstanding company shares.

Securities Analyst

TL;DR This Form 4 shows a compensation grant, not a market trade; the position size is small and unlikely to affect valuation or control.

The detail lists a conversion ratio of 1-for-1 and a per-share reference price of $208.055 for the restricted stock units, with resulting beneficial ownership of 7,616.23 shares (direct). Such director awards are standard and typically intended for retention and alignment, with minimal immediate market impact given the small share count disclosed.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ingram Tamara

(Last) (First) (Middle)

C/O MARSH & MCLENNAN COMPANIES, INC.

1166 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MARSH & MCLENNAN COMPANIES, INC. [ MMC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stk. Units-Dir. Stk. Plan	(1)	08/15/2025		J(2)	V	32.8		(3)	(3)	Common Stock	32.8	$208.055	7,616.23	D

Explanation of Responses:

1. The security converts to Marsh & McLennan Companies common stock on a 1-for-1 basis.

2. Acquired with dividend equivalents credited to the reporting person's account under the Marsh & McLennan Companies Directors Stock Compensation Plan.

3. Not Applicable

	/s/ Tessa Patti, Attorney-in-fact	08/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did MMC director Tamara Ingram acquire?

The reporting person acquired 32.8 restricted stock units that convert 1-for-1 into Marsh & McLennan common stock.

How were the restricted stock units obtained?

They were acquired with dividend equivalents credited under the Marsh & McLennan Companies Directors Stock Compensation Plan.

What is the per-share reference price shown on the Form 4?

The Form 4 lists a per-share reference price of $208.055 for the reported restricted stock units.

How many shares does the reporting person beneficially own after this transaction?

The Form 4 reports 7,616.23 shares beneficially owned following the reported transaction.

Was this transaction a purchase or a sale in the open market?

No. The Form 4 reflects a compensation-related award (restricted stock units) rather than an open-market purchase or sale.