Equity awards for Marsh & McLennan (MMC) SVP and general counsel

Rhea-AI Filing Summary

Marsh & McLennan Companies senior vice president and general counsel Katherine Brennan reported equity awards on common stock. She received stock options for 22,372 shares, which were granted on February 24, 2026 and vest in four equal annual installments on February 24 of 2027, 2028, 2029 and 2030.

She was also granted 6,970 restricted stock units that convert into common stock on a 1-for-1 basis. These RSUs relate to performance stock units originally granted on February 23, 2023 for the 2023–2025 performance period, with the performance factor determined on February 24, 2026.

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
Estimated average burden
hours per response:			0.5

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^*

Brennan Katherine

(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. [ MRSH ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

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
Stock Options (Right to Buy)	$176.99	02/24/2026		A		22,372		(1)	02/23/2036	Common Stock	22,372	$0	22,372	D
Restricted Stock Units	(2)	02/24/2026		A(3)		6,970		(4)	(4)	Common Stock	6,970	$0	6,970	D

Explanation of Responses:

1. These options were granted on February 24, 2026 and vest in four equal annual installments on February 24th of 2027, 2028, 2029 and 2030.

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

3. These restricted stock units relate to performance stock units that were granted on February 23, 2023 for the performance period 2023-2025. The performance factor for these performance stock units was determined on February 24, 2026.

4. Not Applicable

	/s/ Tessa Patti, Attorney-in-fact	02/26/2026
	** 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’s Katherine Brennan report in this Form 4 filing?

Katherine Brennan reported equity awards in Marsh & McLennan Companies stock. She received 22,372 stock options and 6,970 restricted stock units, both tied to the company’s common shares, reflecting compensation rather than open-market buying or selling activity.

How many stock options were granted to MMC executive Katherine Brennan?

She was granted 22,372 stock options on February 24, 2026. These options are rights to buy Marsh & McLennan Companies common stock and form part of her long-term incentive compensation package, subject to a multi-year vesting schedule before becoming fully exercisable.

What is the vesting schedule for Katherine Brennan’s new MMC stock options?

The 22,372 stock options vest in four equal annual installments. Vesting occurs on February 24 in each of 2027, 2028, 2029 and 2030, creating a long-term incentive structure that rewards continued service and alignment with Marsh & McLennan Companies’ long-range performance.

What restricted stock units did MMC grant to Katherine Brennan?

She received 6,970 restricted stock units that each convert into one share of Marsh & McLennan Companies common stock. These RSUs are part of her equity compensation and follow terms linked to earlier performance stock unit awards covering the 2023–2025 performance period.

How are Katherine Brennan’s RSUs related to MMC performance stock units?

The 6,970 restricted stock units relate to performance stock units granted on February 23, 2023 for the 2023–2025 performance period. The performance factor that determines the final RSU payout level was set on February 24, 2026, based on that performance period’s outcomes.

What does 1-for-1 conversion mean for MMC restricted stock units?

A 1-for-1 conversion means each restricted stock unit becomes one share of Marsh & McLennan Companies common stock when it settles. This direct mapping makes it easier for investors to understand the potential share impact of equity awards once vesting and settlement conditions are satisfied.