Marsh & McLennan director granted stock units

Marsh & McLennan Companies director Morton O. Schapiro received an annual equity grant of 1,349.82 restricted stock units.

Rhea-AI Filing Summary

Marsh & McLennan Companies director Morton O. Schapiro received an annual equity grant of 1,349.82 restricted stock units. The award, made under the Marsh & McLennan Companies Directors Stock Compensation Plan, is valued at a reference price of $159.28 per unit and converts into common stock on a 1-for-1 basis.

Following this grant, Schapiro directly holds 90,445.40 shares of common stock, including the underlying shares from these units. This is a compensation-related award rather than an open-market purchase or sale.

Insider Trade Summary

Grant/Award: 1,349.82 shares

Grant/Award 1 txn

Insider SCHAPIRO MORTON O

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stk. Units-Dir. Stk. Plan	1,349.82	$159.28	$215K

Holdings After Transaction: Restricted Stk. Units-Dir. Stk. Plan — 90,445.4 contracts (Direct)

Footnotes (3)

1. F1. The security converts to Marsh & McLennan Companies common stock on a 1-for-1 basis.
2. F2. Annual stock award of 1,349.82 shares pursuant to the Marsh & McLennan Companies Directors Stock Compensation Plan.
3. F3. Not applicable.

Key Figures

RSUs granted: 1,349.82 units Reference price per unit: $159.28 Post-transaction holdings: 90,445.40 shares +2 more

5 metrics

RSUs granted 1,349.82 units Annual stock award to director Morton O. Schapiro

Reference price per unit $159.28 Value used for restricted stock unit grant

Post-transaction holdings 90,445.40 shares Common stock directly held after the grant

Conversion ratio 1-for-1 Each restricted stock unit converts into one common share

Exercise price $0.00 Conversion or exercise price for the stock units

Key Terms

Restricted Stk. Units-Dir. Stk. Plan, Directors Stock Compensation Plan, Grant, award, or other acquisition, underlying security

4 terms

Restricted Stk. Units-Dir. Stk. Plan financial

"security_title: Restricted Stk. Units-Dir. Stk. Plan"

Directors Stock Compensation Plan financial

"Annual stock award of 1,349.82 shares pursuant to the Marsh & McLennan Companies Directors Stock Compensation Plan."

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

underlying security financial

"underlying_security_title: Common Stock"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did MMC director Morton Schapiro report on this Form 4?

Director Morton O. Schapiro reported receiving an annual grant of 1,349.82 restricted stock units. The units were awarded under Marsh & McLennan Companies’ Directors Stock Compensation Plan as equity compensation, not through an open-market stock purchase or sale.

How many Marsh & McLennan (MMC) shares does Morton Schapiro hold after this grant?

After the grant, Morton O. Schapiro directly holds 90,445.40 shares of Marsh & McLennan common stock. This total includes the 1,349.82 restricted stock units, which convert into common shares on a 1-for-1 basis when they ultimately settle.

What is the conversion rate for Morton Schapiro’s MMC restricted stock units?

The restricted stock units awarded to Morton O. Schapiro convert into Marsh & McLennan common stock at a 1-for-1 rate. Each unit represents one share of common stock upon conversion under the Directors Stock Compensation Plan’s terms.

At what reference price were Morton Schapiro’s MMC stock units valued?

The 1,349.82 restricted stock units granted to Morton O. Schapiro were valued at a reference price of $159.28 per unit. This figure reflects the per-unit value used in the award, not an exercise price, since the conversion price is zero.

Was Morton Schapiro’s MMC Form 4 transaction a market buy or sell of shares?

The reported transaction was not a market buy or sell. Morton O. Schapiro received 1,349.82 restricted stock units as a compensation grant under the Directors Stock Compensation Plan, classified as a grant, award, or other acquisition on the Form 4.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/03/2026 - 04:23 PM EDT Learn about SEC filing dates

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^*

SCHAPIRO MORTON O

(Last) (First) (Middle)

C/O NORTHWESTERN UNIVERSITY

633 CLARK ST., ROOM 2-130

(Street)

EVANSTON ILLINOIS 60208

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MARSH & MCLENNAN COMPANIES, INC. [ MRSH ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)	06/01/2026		A(2)		1,349.82		(3)	(3)	Common Stock	1,349.82	$159.28	90,445.4	D

Explanation of Responses:

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

2. Annual stock award of 1,349.82 shares pursuant to the Marsh & McLennan Companies Directors Stock Compensation Plan.

3. Not applicable.

	/s/ Tessa Patti, Attorney-in-fact	06/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)