MMC (NYSE: MMC) SVP Brennan reports RSU vesting and tax share withholding

Rhea-AI Filing Summary

Marsh & McLennan Companies SVP and General Counsel Katherine Brennan reported the vesting of 6,970 restricted stock units into common stock. The units, which relate to performance stock units granted on February 23, 2023 for the 2023-2025 performance period, converted to common stock on a 1-for-1 basis on February 28, 2026.

Of these 6,970 shares, 3,855 common shares were withheld by Marsh & McLennan Companies at a price of $186.74 per share to cover applicable taxes, reflecting a tax-withholding disposition rather than an open-market sale. Following these transactions, Brennan directly owns 7,330 shares 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

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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^*

Brennan Katherine

(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)
	SVP and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
02/28/2026

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
Common Stock	02/28/2026		M(1)		6,970	A	$0	11,185	D
Common Stock	02/28/2026		F(1)		3,855	D	$186.74	7,330	D

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 Stock Units	(2)	02/28/2026		M(1)			6,970	(3)	(3)	Common Stock	6,970	$0	0	D

Explanation of Responses:

1. Vesting and distribution to reporting person of 6,970 shares underlying restricted stock units of which 3,855 were withheld by Marsh & McLennan Companies to cover applicable taxes. These 6,970 shares underlying restricted stock units relate to performance stock units that were granted on February 23, 2023 for the performance period 2023-2025.

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

3. Not Applicable

	/s/ Tessa Patti, Attorney-in-fact	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did MMC executive Katherine Brennan report on this Form 4?

Katherine Brennan reported the vesting of 6,970 restricted stock units into Marsh & McLennan Companies common stock. These units converted on a 1-for-1 basis, reflecting previously awarded performance stock units from February 23, 2023 for the 2023-2025 performance period.

How many Marsh & McLennan Companies (MMC) shares were withheld for taxes in Brennan’s Form 4?

The Form 4 shows that 3,855 shares of Marsh & McLennan Companies common stock were withheld to cover applicable taxes. The withholding occurred at a price of $186.74 per share as part of the restricted stock unit vesting event.

What was the size of the restricted stock unit vesting reported by MMC’s SVP and General Counsel?

The transaction involved the vesting and distribution of 6,970 shares underlying restricted stock units to Katherine Brennan. These RSUs relate to performance stock units granted on February 23, 2023 for the 2023-2025 performance period and converted into common stock on a 1-for-1 basis.

What is the conversion ratio of Katherine Brennan’s restricted stock units into MMC common stock?

The restricted stock units convert into Marsh & McLennan Companies common stock on a 1-for-1 basis. This means each vested unit delivers one share of common stock, simplifying the link between the equity award and the resulting share ownership.

How many Marsh & McLennan Companies shares does Katherine Brennan own after these transactions?

After the reported transactions, Katherine Brennan directly owns 7,330 shares of Marsh & McLennan Companies common stock. This figure reflects the vesting of 6,970 restricted stock units and the withholding of 3,855 shares to satisfy applicable tax obligations.

Were any of Katherine Brennan’s MMC share transactions open-market buys or sells?

The reported transactions were an exercise or conversion of restricted stock units and a tax-withholding disposition. Shares were withheld by Marsh & McLennan Companies to cover taxes, rather than being bought or sold in open-market transactions.