MMC director awarded new restricted stock units

MARSH & MCLENNAN COMPANIES director Lloyd M. Yates reported stock-based compensation activity involving restricted stock units that convert into common shares on a 1-for-1 basis.

Rhea-AI Filing Summary

MARSH & MCLENNAN COMPANIES director Lloyd M. Yates reported stock-based compensation activity involving restricted stock units that convert into common shares on a 1-for-1 basis. On February 15, he received 208.92 restricted stock units at a reference price of $173.51 per unit as a grant under the Directors Stock Compensation Plan. On February 13, an additional 54.59 restricted stock units at $172.98 per unit were credited as dividend equivalents and director fee-related awards. Following these transactions, his directly held restricted stock units totaled 10,755.18.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Yates Lloyd M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stk. Units-Dir. Stk. Plan	208.92	$173.51	$36K
Other	Restricted Stk. Units-Dir. Stk. Plan	54.59	$172.98	$9K

Holdings After Transaction: Restricted Stk. Units-Dir. Stk. Plan — 10,755.18 contracts (Direct)

Footnotes (4)

1. F1. The security converts to Marsh & McLennan Companies common stock on a 1-for-1 basis.
2. F2. Acquired with dividend equivalents credited to the reporting person's account under the Marsh & McLennan Companies Directors Stock Compensation Plan.
3. F3. Not Applicable
4. F4. Acquired in connection with director fees pursuant to the Marsh & McLennan Companies Directors Stock Compensation Plan.

FAQ

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What insider transactions did MMC director Lloyd M. Yates report in this Form 4?

Lloyd M. Yates reported two transactions involving restricted stock units under Marsh & McLennan Companies’ Directors Stock Compensation Plan, including a grant of 208.92 units and an additional 54.59 units credited from dividend equivalents and director fees.

How many restricted stock units did Lloyd M. Yates receive from MMC on February 15, 2026?

On February 15, Lloyd M. Yates received 208.92 restricted stock units with a reference price of $173.51 per unit, reported as a grant or award under Marsh & McLennan Companies’ Directors Stock Compensation Plan for directors.

What was the February 13, 2026 transaction reported by MMC director Lloyd M. Yates?

On February 13, 54.59 restricted stock units at $172.98 per unit were credited to Lloyd M. Yates’ account, described as acquired through dividend equivalents and director fee arrangements under the Marsh & McLennan Companies Directors Stock Compensation Plan.

How many Marsh & McLennan restricted stock units does Lloyd M. Yates hold after these transactions?

After the reported transactions, Lloyd M. Yates directly holds 10,755.18 restricted stock units. These units are part of his director compensation and reflect cumulative grants, dividend equivalents, and fee-related awards under the company’s stock compensation plan.

Do Lloyd M. Yates’s MMC restricted stock units convert into common shares?

Yes. The filing states that each restricted stock unit converts into Marsh & McLennan Companies common stock on a 1-for-1 basis, meaning one restricted stock unit becomes one share of common stock when it is delivered or vests under plan terms.

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Accepted by SEC EDGAR 02/18/2026 - 05:07 PM 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^*

Yates Lloyd M

(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	54.59		(3)	(3)	Common Stock	54.59	$172.98	10,546.26	D
Restricted Stk. Units-Dir. Stk. Plan	(1)	02/15/2026		A(4)		208.92		(3)	(3)	Common Stock	208.92	$173.51	10,755.18	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).
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