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

Rhea-AI Filing Summary

Anthony Anderson, a director of Marsh & McLennan Companies, Inc. (MMC), reported an internal compensation-related acquisition on 08/15/2025. Under the Marsh & McLennan Companies Directors Stock Compensation Plan, 15,487.69 restricted stock units (which convert 1-for-1 into common stock) were credited to his account with dividend equivalents. The filing shows these units are held directly following the transaction and were recorded on a Form 4 signed on 08/18/2025 by an attorney-in-fact. No cash purchase price or sale was reported; the transaction is described as acquisition via dividend equivalents under the directors' plan.

Positive

• 15,487.69 restricted stock units were acquired, aligning the director's compensation with shareholder value
• Transaction recorded as direct ownership, providing transparency in insider holdings

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received equity compensation via dividend-equivalent crediting under the director stock plan, a routine governance practice.

The Form 4 documents an internal compensation issuance rather than an open-market trade or derivative exercise. The 15,487.69 restricted stock units convert 1-for-1 into common shares, aligning director incentives with shareholder outcomes. This is a standard mechanism for director pay and does not, by itself, indicate a change in control, liquidity event, or unusual insider behavior. Investors should note timing (08/15/2025) and that the filing was certified by an attorney-in-fact on 08/18/2025.

Securities Analyst

TL;DR: Transaction is an equity grant credited as dividend equivalents — routine, not market-driven insider trading.

The report shows acquisition under the Marsh & McLennan Directors Stock Compensation Plan with units that convert to common stock on a 1-for-1 basis. No cash consideration or disposition is reported and ownership is direct. From a reporting perspective, this increases the director's potential share count but is a compensation-related issuance rather than a transaction signaling a view on current valuation.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

Anderson Anthony

(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	66.71		(3)	(3)	Common Stock	66.71	$208.055	15,487.69	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 Anthony Anderson acquire on 08/15/2025?

He was credited with 15,487.69 restricted stock units under the Marsh & McLennan Directors Stock Compensation Plan; these convert 1-for-1 into common stock.

Does the Form 4 show a market purchase or sale by Anthony Anderson (MMC)?

No. The filing reports an acquisition via dividend equivalents under a director compensation plan, not an open-market trade.

How do the restricted stock units reported convert to MMC common stock?

The filing states the security converts 1-for-1 into Marsh & McLennan Companies common stock.

When was the Form 4 for this transaction filed and signed?

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

Is there a price or cash consideration reported for the units on the Form 4?

No cash purchase price or sale price is reported; the filing notes the units were acquired via dividend equivalents.