Marsh & McLennan: Tomlinson exercises 2,500 options

Tomlinson’s reported net ownership increased by 725 shares, according to the transaction footnote.

Available on EDGAR 11/04/2026 - 04:07 PM EST Accepted by SEC EDGAR 11/04/2026 - 04:06 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Marsh & McLennan Companies, Inc. (MRSH) Pres/CEO, Marsh People & Inv Patrick Tomlinson exercised 2,500 options on November 2, 2026, through a stock swap, acquiring 2,500 common shares at an $83.05 exercise price per share. The report also records 1,775 shares delivered or withheld for payment of exercise price or tax liability. A footnote says the exercise increased his net ownership by 725 shares.

Insider Trade Summary

2,500 shares exercised/converted

Exercise 3 txns

Insider Tomlinson Patrick

Role Pres/CEO, Marsh People & Inv

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy) F2	2,500	$0.00	$0.00
Exercise	Common Stock F1	2,500	$83.05	$208K
Exercise Price or Tax Liability	Common Stock	1,775	$203.47	$361K

Holdings After Transaction: Stock Options (Right to Buy) — 0 contracts (Direct); Common Stock — 4,981 shares (Direct)

Footnotes (2)

1. F1. On November 2, 2026, Mr. Tomlinson exercised 2,500 options by means of a stock swap. A stock swap is a method of exercising a stock option in which the option holder pays the exercise price using shares of stock already owned. As a result, he increased his net ownership of MRSH common stock by 725 shares. 1,775 previously-owned shares were used to satisfy the exercise price and applicable taxes.
2. F2. These options were granted on February 21, 2018 and vested in four equal annual installments on February 21st of 2019, 2020, 2021 and 2022.

Key Figures

Options exercised: 2,500 options Exercise price: $83.05 per share Common shares acquired: 2,500 shares +2 more

5 metrics

Options exercised 2,500 options November 2, 2026

Exercise price $83.05 per share Options exercised on November 2, 2026

Common shares acquired 2,500 shares Through the option exercise on November 2, 2026

Shares delivered or withheld 1,775 shares For payment of exercise price or tax liability

Net ownership increase 725 shares Stated in the exercise footnote

Key Terms

stock swap, exercise price, vested

3 terms

stock swap technical

"A stock swap is a method of exercising a stock option"

exercise price financial

"pays the exercise price using shares of stock already owned"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vested financial

"vested in four equal annual installments"

FAQ

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

How many MRSH options did Patrick Tomlinson exercise, and at what price?

Patrick Tomlinson exercised 2,500 options at an $83.05 exercise price per share on November 2, 2026. The options were granted February 21, 2018, vested in four equal annual installments on February 21, 2019, 2020, 2021 and 2022, and had an expiration date of February 20, 2028.

What was the net ownership effect of Patrick Tomlinson’s MRSH stock-swap exercise?

The accompanying footnote says the exercise increased Patrick Tomlinson’s net ownership by 725 shares. The report records 1,775 shares delivered or withheld for payment of exercise price or tax liability in connection with the November 2, 2026 transaction.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Tomlinson Patrick

(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)
	Pres/CEO, Marsh People & Inv

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/02/2026

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	11/02/2026		M(1)		2,500	A	$83.05	6,756	D
Common Stock	11/02/2026		F		1,775	D	$203.47	4,981	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)	$83.05	11/02/2026		M			2,500	(2)	02/20/2028	Common Stock	2,500	$0	0	D

Explanation of Responses:

1. On November 2, 2026, Mr. Tomlinson exercised 2,500 options by means of a stock swap. A stock swap is a method of exercising a stock option in which the option holder pays the exercise price using shares of stock already owned. As a result, he increased his net ownership of MRSH common stock by 725 shares. 1,775 previously-owned shares were used to satisfy the exercise price and applicable taxes.

2. These options were granted on February 21, 2018 and vested in four equal annual installments on February 21st of 2019, 2020, 2021 and 2022.

	/s/ Tessa Patti, Attorney-in-fact	11/04/2026
	** 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)