[Form 4] Marsh & McLennan Companies, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Marsh & McLennan Companies director Deborah C. Hopkins reported receipt of restricted stock units under the company's Directors Stock Compensation Plan that convert 1-for-1 into common stock. The transaction dated 08/15/2025 shows 85.08 underlying shares (acquired with dividend equivalents) and reports 19,752.73 shares beneficially owned following the transaction on a direct basis. The filing was executed by an attorney-in-fact on 08/18/2025. No exercise price or derivative expiration applies because these are restricted stock units that convert to common stock.

Insights

Securities Analyst

TL;DR Director received a routine grant of RSUs converting to 85.08 shares; beneficial ownership now 19,752.73 shares.

This Form 4 documents a standard director compensation event under the Directors Stock Compensation Plan. The 85.08 restricted stock units were credited with dividend equivalents and convert 1-for-1 into common stock, consistent with the plan's mechanics. The incremental size of the grant is small relative to the total reported beneficial ownership, suggesting this is a routine, non-material equity compensation entry rather than a corporate governance or control signal.

Corporate Governance Expert

TL;DR Routine director equity award; filing aligns with disclosure obligations and uses an attorney-in-fact signature.

The filing shows proper reporting of a director stock compensation event, including the use of dividend equivalents to acquire RSUs. The signature by an attorney-in-fact and the clear explanation that the RSUs convert 1-for-1 to common stock indicate standard administrative handling. There are no indications of accelerated vesting, sales, or unusual derivatives activity that would raise governance concerns.

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^*

HOPKINS DEBORAH C

(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	85.08		(3)	(3)	Common Stock	85.08	$208.055	19,752.73	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 Deborah C. Hopkins report on Form 4?

The Form 4 reports acquisition of 85.08 restricted stock units under the Directors Stock Compensation Plan that convert 1-for-1 into common stock.

How many MMC shares does Deborah C. Hopkins beneficially own after the transaction?

The filing reports 19,752.73 shares beneficially owned following the reported transaction on a direct basis.

When was the transaction and who signed the Form 4?

The transaction date is 08/15/2025 and the Form 4 was signed by an attorney-in-fact, Tessa Patti, on 08/18/2025.

Were the RSUs acquired with dividend equivalents or purchased outright?

The explanation states the RSUs were acquired with dividend equivalents credited to the reporting person’s account under the Directors Stock Compensation Plan.

Does this Form 4 involve exercised options or derivative securities?

No. The filing documents restricted stock units that convert to common stock 1-for-1 and does not show option exercises or derivative expirations.