[Form 3] RYAN SPECIALTY HOLDINGS, INC. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Ryan Specialty Holdings reported that Michael G. Bungert was appointed to the board by unanimous written consent on September 3, 2025 and began functioning as a director on September 12, 2025. The Form 3 discloses that the reporting person does not beneficially own any securities of the issuer. The filing includes a power of attorney exhibit and was signed by an attorney-in-fact on September 18, 2025.

Positive

• Appointment to the board by unanimous written consent, began serving as director on September 12, 2025.

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director appointment disclosed; no equity ownership reported, so no immediate alignment via shares.

The Form 3 documents a board addition through unanimous written consent, with the director beginning service on September 12, 2025. The absence of beneficial ownership means the newly reported director did not hold equity at filing date; this is common for newly appointed directors prior to any grants or purchases. For governance monitoring, investors will watch subsequent filings for any equity awards or purchases that establish ownership alignment.

Securities Compliance Analyst

TL;DR: Routine Section 16 Form 3 filing; procedural disclosure with no material securities holdings reported.

The submission fulfills Section 16(a) disclosure requirements for an insider who became a director. It contains an Exhibit 24 power of attorney and a dated signature by an attorney-in-fact. Because it reports no beneficial ownership, there are no immediate Section 16 trading or reporting implications beyond the initial disclosure. Future Forms 4/5 may follow if holdings or transactions occur.

09/18/2025 - 04:11 PM

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

BUNGERT MICHAEL G

(Last) (First) (Middle)

155 NORTH WACKER DRIVE, SUITE 4000

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/12/2025

3. Issuer Name and Ticker or Trading Symbol
RYAN SPECIALTY HOLDINGS, INC. [ RYAN ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

The reporting person began functioning as a director on September 12, 2025 after being appointed to the board of directors on September 3, 2025 by unanimous written consent. Exhibit List - Exhibit 24 - Power of Attorney.

No securities are beneficially owned.

	/s/ Mark S. Katz, as Attorney-in-Fact	09/18/2025
	** 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 5 (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.

FAQ

Who filed the Form 3 for RYAN and what role was disclosed?

The Form 3 was filed for Michael G. Bungert, disclosing his role as a director of Ryan Specialty Holdings.

When did Michael G. Bungert begin functioning as a director of RYAN?

He began functioning as a director on September 12, 2025, after being appointed on September 3, 2025.

Does the Form 3 report any beneficial ownership of RYAN securities by the reporting person?

No. The filing explicitly states no securities are beneficially owned by the reporting person as of the filing.

Was any exhibit or authorization included with the Form 3 for RYAN?

Yes. The filing lists Exhibit 24 - Power of Attorney and includes a signature by an attorney-in-fact dated September 18, 2025.

Will additional SEC forms be required if the director acquires RYAN securities?

Yes. Any future acquisitions or dispositions would generally trigger Section 16 reporting, typically via Form 4 for transactions and Form 5 for certain annual disclosures.