Marsh & McLennan Form 4 — Director Awarded 933.67 Shares in RSUs

Rhea-AI Filing Summary

Siegmund Jan, a director of Marsh & McLennan Companies, Inc. (MMC), reported a non-derivative acquisition on 08/15/2025. The filing shows the reporting person received Restricted Stock Units under the Marsh & McLennan Companies Directors Stock Compensation Plan that convert 1-for-1 into common stock. The transaction was recorded as resulting in 933.67 shares beneficially owned following the award and was acquired with dividend equivalents credited to the reporting person’s account. The Form 4 was signed by an attorney-in-fact on 08/18/2025.

Positive

• Director received 933.67 Restricted Stock Units that convert 1-for-1 into common stock, reflecting standard director compensation.
• Award included dividend equivalents, indicating the grant preserves economic parity with paid dividends until conversion.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received RSUs equal to 933.67 shares on 08/15/2025 under the company directors' compensation plan.

This Form 4 documents a routine equity award to a director rather than an open-market purchase or sale. The units convert 1-for-1 into common stock and were granted with dividend equivalents, indicating standard director compensation rather than a trading decision. The size (933.67 shares) should be evaluated relative to the director's total holdings and the company’s outstanding shares to judge materiality; based solely on this filing, the event appears administrative and not market-moving.

Corporate Governance Expert

TL;DR: This is a standard director compensation grant reported per Section 16; no governance red flags are evident.

The filing notes the award was made under the Marsh & McLennan Directors Stock Compensation Plan and includes dividend equivalents, which aligns with common governance practices for director pay. The Form 4 is timely and signed via attorney-in-fact, showing procedural compliance. No indication of planned sales or hedging is present in this submission.

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^*

Siegmund Jan

(Last) (First) (Middle)

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	4.02		(3)	(3)	Common Stock	4.02	$208.055	933.67	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 Siegmund Jan report on Form 4 (MMC)?

The Form 4 reports that Siegmund Jan received Restricted Stock Units on 08/15/2025 under the Marsh & McLennan Directors Stock Compensation Plan.

How many shares resulted from the reported transaction on the Form 4 for MMC?

The filing shows 933.67 shares beneficially owned following the reported award, which convert 1-for-1 into common stock.

Was the Form 4 transaction for MMC an open-market trade or a compensation grant?

This was a compensation grant (Restricted Stock Units acquired under the directors' stock compensation plan), not an open-market trade.

When was the MMC transaction dated and when was the Form 4 signed?

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

Do the reported RSUs include dividend equivalents according to the filing?

Yes, the filing states the RSUs were acquired with dividend equivalents credited to the reporting person's account.