Marsh & McLennan CEO sells 16,656 shares of stock

MRSH’s President and CEO exercised options for 16,656 shares and sold the same number under a pre-arranged Rule 10b5-1 trading plan.

Rhea-AI Filing Summary

MARSH & MCLENNAN COMPANIES, INC. (MRSH) reported that President and CEO John Q. Doyle exercised stock options for 16,656 shares of common stock on September 2, 2026 at an exercise price of $73.195 per share, converting previously granted options into shares.

On the same date, he sold 16,656 shares of common stock at a reported price of $188.51 per share. The filing states that these transactions were effected pursuant to a previously adopted Rule 10b5-1 trading plan, indicating they were pre-arranged rather than opportunistic.

Insider Trade Summary 10b5-1

Exercise and Sale: 16,656 shares ($1.92M approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Doyle John Q

Role President and CEO

Sold 16,656 shs ($3.14M)

Approx. gross sale proceeds $3.14M

Approx. exercise cost $1.22M

Approx. pre-tax spread $1.92M

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy) F1, F2	16,656	$0.00	$0.00
Exercise	Common Stock F1	16,656	$73.195	$1.22M
Sale	Common Stock F1	16,656	$188.51	$3.14M

Holdings After Transaction: Stock Options (Right to Buy) — 16,656 contracts (Direct); Common Stock — 116,811.0205 shares (Direct)

Footnotes (2)

1. F1. This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.
2. F2. These options were granted on February 22, 2017 and vested in four equal annual installments on February 22nd of 2018, 2019, 2020 and 2021.

Key Figures

Options exercised: 16,656 shares Option exercise price: $73.195 per share Shares sold: 16,656 shares +3 more

6 metrics

Options exercised 16,656 shares Stock options exercised into common stock on September 2, 2026

Option exercise price $73.195 per share Exercise price for options converting into 16,656 shares of common stock

Shares sold 16,656 shares Common stock sold on September 2, 2026 following the option exercise

Sale price $188.51 per share Reported price for the sale of 16,656 shares of common stock

Options grant date February 22, 2017 Grant date of the options that were exercised

Option expiration date February 21, 2027 Expiration date of the stock options that were exercised

Key Terms

Rule 10b5-1 trading plan, stock options, derivative security

3 terms

Rule 10b5-1 trading plan regulatory

"This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

stock options financial

"These options were granted on February 22, 2017 and vested in four equal annual installments"

Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did MRSH report for President and CEO John Q. Doyle?

MARSH & MCLENNAN COMPANIES, INC. reported that John Q. Doyle exercised stock options for 16,656 shares of common stock at $73.195 per share on September 2, 2026 and sold 16,656 shares at $188.51 per share the same day.

Was John Q. Doyle’s MRSH stock sale under a Rule 10b5-1 trading plan?

Yes. A footnote states that the reported transactions were effected pursuant to a Rule 10b5-1 trading plan previously adopted by John Q. Doyle, indicating the exercise and sale were pre-arranged under that plan.

How many MRSH shares did John Q. Doyle acquire through option exercise?

He acquired 16,656 shares of MARSH & MCLENNAN COMPANIES, INC. common stock through the exercise of stock options described as a right to buy, at an exercise price of $73.195 per share on September 2, 2026.

At what price did John Q. Doyle sell MRSH common stock on September 2, 2026?

The filing reports that John Q. Doyle sold 16,656 shares of MARSH & MCLENNAN COMPANIES, INC. common stock at a price of $188.51 per share on September 2, 2026.

What options did John Q. Doyle exercise in the latest MRSH Form 4?

He exercised stock options covering 16,656 shares of common stock with an exercise price of $73.195 per share. A footnote explains these options were granted on February 22, 2017 and vested in four equal annual installments from 2018 through 2021.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 09/03/2026 - 04:01 PM EDT Accepted by SEC EDGAR 09/03/2026 - 04:01 PM EDT 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).

X

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^*

Doyle John Q

(Last) (First) (Middle)

1166 AVENUE OF THE AMERICAS

(Street)

NEW YORK 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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2026

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
Common Stock	09/02/2026		M(1)		16,656	A	$73.195	133,467.0205	D
Common Stock	09/02/2026		S(1)		16,656	D	$188.51	116,811.0205	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
Stock Options (Right to Buy)	$73.195	09/02/2026		M(1)			16,656	(2)	02/21/2027	Common Stock	16,656	$0	16,656	D

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.

2. These options were granted on February 22, 2017 and vested in four equal annual installments on February 22nd of 2018, 2019, 2020 and 2021.

	/s/ Tessa Patti, Attorney-in-fact	09/03/2026
	** 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)