[Form 4] MARSH & MCLENNAN COMPANIES, INC. Insider Trading Activity

Rhea-AI Filing Summary

Marsh & McLennan Companies (MMC) reported a director equity transaction on Form 4. On 11/14/2025, the director had 34.22 restricted stock units under the Directors Stock Compensation Plan credited as dividend equivalents, each convertible into one share of common stock. On 11/15/2025, the director acquired an additional 148.34 restricted stock units in connection with director fees under the same plan. The reported prices were $183.435 and $183.28 per unit, and following these transactions the director directly beneficially owned 7,157.45 restricted stock units.

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^*

Lute Jane H

(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)
11/14/2025

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)	11/14/2025		J(2)	V	34.22		(3)	(3)	Common Stock	34.22	$183.435	7,009.11	D
Restricted Stk. Units-Dir. Stk. Plan	(1)	11/15/2025		A(4)		148.34		(3)	(3)	Common Stock	148.34	$183.28	7,157.45	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

4. Acquired in connection with director fees pursuant to the Marsh & McLennan Companies Directors Stock Compensation Plan.

	/s/ Tessa Patti, Attorney-in-fact	11/18/2025
	** 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).
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FAQ

What did Marsh & McLennan (MMC) disclose in this Form 4 filing?

The filing reports that a director of Marsh & McLennan Companies (MMC) acquired additional restricted stock units (RSUs) under the company’s Directors Stock Compensation Plan on 11/14/2025 and 11/15/2025, and updates the total number of RSUs the director beneficially owns.

How many restricted stock units did the MMC director acquire?

The director had 34.22 restricted stock units credited on 11/14/2025 as dividend equivalents and acquired an additional 148.34 restricted stock units on 11/15/2025 in connection with director fees under the Marsh & McLennan Companies Directors Stock Compensation Plan.

At what prices were the MMC restricted stock units recorded in the Form 4?

The 34.22 restricted stock units reported on 11/14/2025 were recorded at a price of $183.435 per unit, and the 148.34 restricted stock units reported on 11/15/2025 were recorded at $183.28 per unit.

How many Marsh & McLennan RSUs does the director own after these transactions?

After the reported transactions, the director directly beneficially owned 7,157.45 restricted stock units under the Marsh & McLennan Companies Directors Stock Compensation Plan, as shown in the Form 4.

How do the MMC restricted stock units convert into common stock?

The explanation states that the security converts to Marsh & McLennan Companies common stock on a 1-for-1 basis, meaning each restricted stock unit is convertible into one share of MMC common stock.

Why were some MMC restricted stock units credited as dividend equivalents?

The Form 4 explains that certain restricted stock units were acquired with dividend equivalents credited to the director’s account under the Marsh & McLennan Companies Directors Stock Compensation Plan, reflecting dividends on underlying shares.

What is the purpose of the Marsh & McLennan Directors Stock Compensation Plan mentioned in the Form 4?

The Marsh & McLennan Companies Directors Stock Compensation Plan provides restricted stock units to directors, including grants in connection with director fees and credits of dividend equivalents, which are reported on Form 4 when they change a director’s beneficial ownership.