Marsh & McLennan (MRSH) director adds RSUs from fees, dividends

Rhea-AI Filing Summary

Marsh & McLennan Companies, Inc. (MRSH) director Morton O. Schapiro reported two equity compensation transactions involving restricted stock units that convert into common stock on a 1-for-1 basis. On August 15, 2026, he received 218.9 restricted stock units as a grant of director fees under the Marsh & McLennan Companies Directors Stock Compensation Plan at a reference price of $188.445 per unit. On August 14, 2026, he acquired an additional 473.39 restricted stock units through dividend equivalents credited to his account under the same plan at a reference price of $189.15 per unit. Both awards are reported as directly owned and are derivative securities linked to common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider SCHAPIRO MORTON O

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stk. Units-Dir. Stk. Plan F1, F4, F3	218.9	$188.445	$41K
Other	Restricted Stk. Units-Dir. Stk. Plan F1, F2, F3	473.39	$189.15	$90K

Holdings After Transaction: Restricted Stk. Units-Dir. Stk. Plan — 91,137.69 shares (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.

Key Figures

RSUs granted as director fees: 218.9000 units Reference price for director fee RSUs: $188.4450 per unit RSUs from dividend equivalents: 473.3900 units +2 more

5 metrics

RSUs granted as director fees 218.9000 units Restricted Stock Units under Directors Stock Compensation Plan on August 15, 2026

Reference price for director fee RSUs $188.4450 per unit Grant of 218.9000 Restricted Stk. Units-Dir. Stk. Plan on August 15, 2026

RSUs from dividend equivalents 473.3900 units Restricted Stk. Units-Dir. Stk. Plan acquired via dividend equivalents on August 14, 2026

Reference price for dividend-equivalent RSUs $189.1500 per unit Acquisition of 473.3900 Restricted Stk. Units-Dir. Stk. Plan on August 14, 2026

Total RSUs reported acquired 692.2900 units Sum of 218.9000 and 473.3900 Restricted Stk. Units reported in this Form 4

Key Terms

Restricted Stk. Units-Dir. Stk. Plan, dividend equivalents, Directors Stock Compensation Plan

3 terms

Restricted Stk. Units-Dir. Stk. Plan financial

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

dividend equivalents financial

"Acquired with dividend equivalents credited to the reporting person's account"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

Directors Stock Compensation Plan financial

"under the Marsh & McLennan Companies Directors Stock Compensation Plan"

FAQ

What insider equity awards did MRSH director Morton O. Schapiro report?

Morton O. Schapiro reported acquiring two batches of restricted stock units tied to Marsh & McLennan common stock: 218.9 units as director fee compensation and 473.39 units from credited dividend equivalents under the Directors Stock Compensation Plan.

On what dates were the MRSH restricted stock unit awards to Morton O. Schapiro effective?

The reported equity awards were effective on August 15, 2026 for the 218.9 unit director fee grant and on August 14, 2026 for the 473.39 units acquired through dividend equivalents under the Marsh & McLennan Directors Stock Compensation Plan.

How many Marsh & McLennan (MRSH) restricted stock units did Morton O. Schapiro acquire in total?

Morton O. Schapiro acquired a total of 692.29 restricted stock units linked to Marsh & McLennan common stock, consisting of 218.9 units from director fees and 473.39 units from dividend equivalents credited under the Directors Stock Compensation Plan.

What is the conversion ratio of the reported MRSH restricted stock units to common stock?

Each reported restricted stock unit converts into Marsh & McLennan Companies common stock on a 1-for-1 basis, meaning each unit represents the right to receive one share of common stock, as disclosed in the filing footnotes for these director equity awards.

Were the MRSH insider transactions open-market buys or compensation-related awards?

The MRSH insider transactions are compensation-related awards, not open-market purchases. The restricted stock units were granted as director fees and through dividend equivalents credited under the Marsh & McLennan Companies Directors Stock Compensation Plan, and are reported as derivative securities.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/18/2026 - 04:15 PM Accepted by SEC EDGAR 08/18/2026 - 04:15 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^*

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)
08/14/2026

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)	08/14/2026		J(2)	V	473.39		(3)	(3)	Common Stock	473.39	$189.15	90,918.79	D
Restricted Stk. Units-Dir. Stk. Plan	(1)	08/15/2026		A(4)		218.9		(3)	(3)	Common Stock	218.9	$188.445	91,137.69	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	08/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)