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

Rhea-AI Filing Summary

Marsh & McLennan Companies director Jane H. Lute reported new equity-based compensation in the form of restricted stock units. On February 15, 2026, she acquired 156.69 restricted stock units at $173.51 per unit as a grant or award, bringing her direct holdings to 7,351.38 units.

On February 13, 2026, an additional 37.24 units at $172.98 were credited as an "other" transaction, tied to dividend equivalents and director fees under the company’s Directors Stock Compensation Plan. Each restricted stock unit converts into one share of Marsh & McLennan Companies common stock.

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

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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. [ MRSH ]

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)
02/13/2026

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
Restricted Stk. Units-Dir. Stk. Plan	(1)	02/13/2026		J(2)	V	37.24		(3)	(3)	Common Stock	37.24	$172.98	7,194.69	D
Restricted Stk. Units-Dir. Stk. Plan	(1)	02/15/2026		A(4)		156.69		(3)	(3)	Common Stock	156.69	$173.51	7,351.38	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	02/18/2026
	** 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 director Jane H. Lute report?

MMC director Jane H. Lute reported receiving restricted stock units as compensation. She was granted 156.69 units on February 15, 2026, and 37.24 additional units on February 13, 2026, under the Marsh & McLennan Companies Directors Stock Compensation Plan.

How many Marsh & McLennan (MMC) restricted stock units did the director receive?

Jane H. Lute received 156.69 restricted stock units as a grant and 37.24 units from an additional transaction. In total, 193.93 units were added, increasing her direct restricted stock unit holdings to 7,351.38 units following the February 15, 2026 grant.

Were the MMC director’s Form 4 transactions open-market buys or sells?

The reported MMC transactions were not open-market buys or sells. They reflect equity compensation: a grant of restricted stock units and additional units from dividend equivalents and director fees, all under the Marsh & McLennan Companies Directors Stock Compensation Plan rather than market trading.

How do Jane H. Lute’s MMC restricted stock units convert into common shares?

Each restricted stock unit reported by Jane H. Lute converts into one share of Marsh & McLennan Companies common stock. This 1-for-1 conversion ratio means her 7,351.38 restricted stock units represent the potential to receive an equal number of common shares at settlement.

What is the source of the additional MMC restricted stock units credited to the director?

The additional 37.24 restricted stock units were acquired through dividend equivalents and director fees. These amounts were credited to Jane H. Lute’s account under the Marsh & McLennan Companies Directors Stock Compensation Plan rather than purchased on the open market.

What prices were used to value the MMC restricted stock unit transactions?

The February 15, 2026 grant of 156.69 restricted stock units was valued at $173.51 per unit. The February 13, 2026 credit of 37.24 units was valued at $172.98 per unit, reflecting the underlying Marsh & McLennan Companies common stock price for those awards.