What does a 1-for-1 RSU-to-share conversion mean for MMC investors?

A 1-for-1 conversion means each restricted stock unit becomes one share of Marsh & McLennan common stock upon settlement. This filing shows the potential future share issuance tied to Tomlinson’s award, subject to the vesting conditions and standard plan provisions.

Marsh & McLennan (NYSE: MMC) grants 14,907 RSUs to Mercer CEO

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Marsh & McLennan Companies reported that Patrick Tomlinson, President and CEO of Mercer, received a grant of 14,907 restricted stock units. These units convert into Marsh & McLennan common stock on a 1-for-1 basis.

The restricted stock units vest in three equal annual installments on May 15, 2027, 2028 and 2029. Following this grant, Tomlinson holds 19,761 restricted stock units directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Tomlinson Patrick

Role President and CEO, Mercer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	14,907	$0.00	--

Holdings After Transaction: Restricted Stock Units — 19,761 shares (Direct, null)

Footnotes (1)

The security converts to Marsh & McLennan Companies common stock on a 1-for-1 basis. These restricted stock units vest in three equal annual installments on May 15, 2027, 2028 and 2029. Not applicable.

Key Figures

RSUs granted: 14,907 units Post-grant RSU holdings: 19,761 units Conversion ratio: 1-for-1 +2 more

5 metrics

RSUs granted 14,907 units Restricted stock units granted on May 1, 2026

Post-grant RSU holdings 19,761 units Restricted stock units held after this award

Conversion ratio 1-for-1 Each RSU converts into one share of common stock

Vesting schedule 3 equal installments Annual vesting on May 15, 2027, 2028, 2029

Grant price $0.00 per unit RSU compensation award with no exercise price

Key Terms

Restricted Stock Units, 1-for-1 basis, vest

3 terms

Restricted Stock Units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

1-for-1 basis financial

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

vest financial

"These restricted stock units vest in three equal annual installments on May 15, 2027, 2028 and 2029."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Form 4 Insider Transactions: What Each Field Means →

05/01/2026 - 04:05 PM

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^*

Tomlinson Patrick

(Last)

(First)

(Middle)

1166 AVENUE OF THE AMERICAS

(Street)

NEW YORK

10036

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CEO, Mercer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	05/01/2026		A⁽²⁾		14,907		⁽³⁾	⁽³⁾	Common Stock	14,907	$0	19,761	D

Explanation of Responses:

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

2. These restricted stock units vest in three equal annual installments on May 15, 2027, 2028 and 2029.

3. Not applicable.

	/s/ Tessa Patti, Attorney-in-fact	05/01/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Marsh & McLennan (MMC) report for Patrick Tomlinson?

Marsh & McLennan reported that Patrick Tomlinson, President and CEO of Mercer, received 14,907 restricted stock units. These equity awards are compensation-related, not open-market purchases, and convert into common stock on a 1-for-1 basis when they settle and vest.

How many Marsh & McLennan RSUs does Patrick Tomlinson hold after this Form 4?

After the reported grant, Patrick Tomlinson holds 19,761 restricted stock units directly. This figure reflects his updated equity-based compensation position from this specific award, which will convert into common stock as the units vest over the disclosed schedule.

When do Patrick Tomlinson’s new Marsh & McLennan RSUs vest?

The 14,907 restricted stock units vest in three equal annual installments on May 15, 2027, May 15, 2028 and May 15, 2029. Actual share delivery depends on continued service and the company’s standard RSU terms over this multi-year schedule.

Was Patrick Tomlinson’s Marsh & McLennan RSU grant an open-market stock purchase?

No, the Form 4 describes a grant of 14,907 restricted stock units as a compensation award, coded as a grant or award acquisition. It was not an open-market purchase; instead, it reflects equity incentives provided by the company to the Mercer executive.