Marsh & McLennan (MMC) awards options and RSUs to executive Studer

Rhea-AI Filing Summary

Marsh & McLennan Companies executive Nicholas Mark Studer reported equity awards rather than open‑market trades. He received stock options covering 21,129 shares of Marsh & McLennan common stock at an exercise price of $0.0000 per share. These options were granted on February 24, 2026 and vest in four equal annual installments on February 24 of 2027, 2028, 2029 and 2030.

He was also granted 8,044 restricted stock units tied to performance stock units originally granted on February 23, 2023 for the 2023–2025 performance period. The performance factor for these units was determined on February 24, 2026, and both the options and units convert into Marsh & McLennan common stock on a 1‑for‑1 basis.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Studer Nicholas Mark

Role President and CEO of OWG

Type	Security	Shares	Price	Value
Grant/Award	Stock Options (Right to Buy)	21,129	$0.00	--
Grant/Award	Restricted Stock Units	8,044	$0.00	--

Holdings After Transaction: Stock Options (Right to Buy) — 21,129 shares (Direct); Restricted Stock Units — 8,044 shares (Direct)

Footnotes (1)

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. The security converts to Marsh & McLennan Companies common stock on a 1-for-1 basis. 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. Not Applicable

Form 4 Insider Transactions: What Each Field Means →

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^*

Studer Nicholas Mark

(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)
	President and CEO of OWG

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		21,129		(1)	02/23/2036	Common Stock	21,129	$0	21,129	D
Restricted Stock Units	(2)	02/24/2026		A(3)		8,044		(4)	(4)	Common Stock	8,044	$0	8,044	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 insider transactions did MMC executive Nicholas Mark Studer report on this Form 4?

Nicholas Mark Studer reported equity awards, not market trades. He received stock options on 21,129 shares at an exercise price of $0.0000 and 8,044 restricted stock units, all tied to Marsh & McLennan Companies common stock on a 1‑for‑1 basis.

How many Marsh & McLennan (MMC) stock options were granted to Nicholas Studer?

Nicholas Studer was granted stock options covering 21,129 shares of Marsh & McLennan common stock. These options were granted on February 24, 2026, carry an exercise price of $0.0000 per share, and vest in four equal annual installments from 2027 through 2030.

What is the vesting schedule for Nicholas Studer’s MMC stock options?

The 21,129 stock options granted to Nicholas Studer vest in four equal annual installments. Vesting dates are February 24 of 2027, 2028, 2029 and 2030, aligning the award with multi‑year service and performance at Marsh & McLennan Companies.

What restricted stock units did Nicholas Studer receive from Marsh & McLennan (MMC)?

Nicholas Studer received 8,044 restricted stock units related to performance stock units granted on February 23, 2023 for the 2023–2025 performance period. The performance factor for these units was determined on February 24, 2026, and each unit converts into one share of common stock.

How do Nicholas Studer’s MMC stock options and RSUs convert into common stock?

Both the stock options and restricted stock units awarded to Nicholas Studer convert into Marsh & McLennan Companies common stock on a 1‑for‑1 basis. Each option or unit corresponds to one share, providing a direct link between award value and future share ownership.

Are Nicholas Studer’s MMC Form 4 transactions open‑market purchases or sales?

The Form 4 shows grant or award acquisitions, not open‑market purchases or sales. Transactions coded “A” reflect equity compensation awards—stock options and restricted stock units—granted to Nicholas Studer as part of his role, with no reported market buying or selling activity.