MMC director receives stock-based compensation grant

Marsh & McLennan Companies director Lloyd M. Yates reported routine stock-based compensation activity involving restricted stock units that convert into common stock on a 1-for-1 basis.

Rhea-AI Filing Summary

Marsh & McLennan Companies director Lloyd M. Yates reported routine stock-based compensation activity involving restricted stock units that convert into common stock on a 1-for-1 basis. He received a grant of 225.720 restricted stock units in connection with director fees under the Directors Stock Compensation Plan.

In a separate restructuring-type entry, 60.270 restricted stock units were acquired through dividend equivalents credited to his account. Following these transactions, Yates directly holds about 11,041.170 restricted stock units, reflecting ongoing equity-based compensation rather than open-market trading.

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	225.72	$160.60	$36K
Other	Restricted Stk. Units-Dir. Stk. Plan	60.27	$160.60	$10K

Holdings After Transaction: Restricted Stk. Units-Dir. Stk. Plan — 11,041.17 contracts (Direct)

Footnotes (4)

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

Key Figures

RSU grant: 225.720 restricted stock units Dividend equivalent RSUs: 60.270 restricted stock units Per-unit reference price: $160.6000 per unit +3 more

6 metrics

RSU grant 225.720 restricted stock units Grant tied to director fees under Directors Stock Compensation Plan

Dividend equivalent RSUs 60.270 restricted stock units Acquired via dividend equivalents credited to director’s account

Per-unit reference price $160.6000 per unit Price per restricted stock unit shown for both transactions

Holdings after transactions 11,041.170 restricted stock units Direct holdings following reported compensation activity

Net buy/sell shares 0 shares No net open-market buying or selling activity reported

Derivative transactions count 2 transactions Both entries involve restricted stock units as derivatives

Key Terms

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

4 terms

Restricted Stk. Units-Dir. Stk. Plan financial

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

Directors Stock Compensation Plan financial

"pursuant to the Marsh & McLennan Companies Directors Stock Compensation 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.

restricted stock units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

FAQ

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

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

Lloyd M. Yates reported routine equity compensation activity. He received 225.720 restricted stock units as director fees and 60.270 units from dividend equivalents, all under Marsh & McLennan Companies’ Directors Stock Compensation Plan, with no open-market share purchases or sales.

How many restricted stock units did Lloyd M. Yates receive as compensation at MMC?

He received 225.720 restricted stock units as a grant tied to director fees. These units were awarded under Marsh & McLennan Companies’ Directors Stock Compensation Plan and convert into common stock on a one-for-one basis according to the filing footnotes.

What is the significance of the 60.270 restricted stock units in MMC’s Form 4?

The 60.270 restricted stock units reflect dividend equivalents credited to Lloyd M. Yates’s account. These arise when dividends are mirrored as additional units rather than cash, increasing his restricted stock unit balance without an open-market transaction.

How many Marsh & McLennan restricted stock units does Lloyd M. Yates now hold?

After the reported transactions, Yates directly holds about 11,041.170 restricted stock units. These units represent deferred equity compensation that converts into Marsh & McLennan common stock on a one-for-one basis under the directors’ stock compensation arrangements.

Were there any open-market buys or sells by Lloyd M. Yates in this MMC Form 4?

No open-market purchases or sales were reported. The filing shows only grants and adjustments of restricted stock units related to director fees and dividend equivalents, all under Marsh & McLennan Companies’ Directors Stock Compensation Plan.

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

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Accepted by SEC EDGAR 05/18/2026 - 04:11 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).

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 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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)	05/15/2026		A(2)		225.72		(3)	(3)	Common Stock	225.72	$160.6	10,980.9	D
Restricted Stk. Units-Dir. Stk. Plan	(1)	05/15/2026		J(4)	V	60.27		(3)	(3)	Common Stock	60.27	$160.6	11,041.17	D

Explanation of Responses:

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

2. Acquired in connection with director fees pursuant to the Marsh & McLennan Companies Directors Stock Compensation Plan.

3. Not applicable.

4. Acquired with dividend equivalents credited to the reporting person's account under the Marsh & McLennan Companies Directors Stock Compensation Plan.

	/s/ Tessa Patti, Attorney-in-fact	05/18/2026
	** 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)