Ryan Specialty: Benjamin Miles Wuller sells 100K shares
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Form Type
4
Rhea-AI Filing Summary
Ryan Specialty Holdings, Inc. (RYAN) officer Benjamin Miles Wuller (CEO RSUM) reported exchanging 40,000 Common Units for 40,000 Class A shares on November 9, 2026, and 50,000 Common Units for 50,000 Class A shares on November 10; an equal number of Class B shares was canceled for no consideration in each exchange. Wuller also reported selling 50,000 Class A shares on each date, at weighted-average prices of $47.3129 and $47.1836 per share, respectively, and gifting 7,577 Class A shares on November 10.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
9 txns
Insider
Wuller Benjamin MIles
Role
CEO RSUM
Sold
100,000 shs ($4.72M)
Approx. gross sale proceeds
$4.72M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Common Units F4 | 50,000 | $0.00 | $0.00 |
| Exercise | Class B Common Stock F1 | 50,000 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 50,000 | $0.00 | $0.00 |
| Sale | Class A Common Stock F3 | 50,000 | $47.1836 | $2.36M |
| Gift | Class A Common Stock | 7,577 | $0.00 | $0.00 |
| Exercise | Common Units F4 | 40,000 | $0.00 | $0.00 |
| Exercise | Class B Common Stock F1 | 40,000 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 40,000 | $0.00 | $0.00 |
| Sale | Class A Common Stock F2 | 50,000 | $47.3129 | $2.37M |
Holdings After Transaction:
Common Units — 348,480 units (Direct);
Class B Common Stock — 348,480 shares (Direct);
Class A Common Stock — 86,518 shares (Direct)
Footnotes (4)
- F1. Shares of Class B Common Stock, par value $0.001 per share, ("Class B Common Stock") do not represent economic interests in the Issuer. Except as provided in the Issuer's certificate of incorporation or as required by applicable law, holders of Class B Common Stock will be initially entitled to 10 votes per share on all matters to be voted on by the Issuer's stockholders generally. Upon exchange of Common Units ("Common Units") of New Ryan Specialty, LLC that are held by the Reporting Person and reported in Table II hereof, for an equal number of shares of Class A Common Stock, par value $0.001 per share, ("Class A Common Stock") of the Issuer, an equal number of shares of the Issuer's Class B Common Stock will be cancelled for no consideration.
- F2. The price reported is a weighted average price. These shares of Class A Common Stock of the Issuer were sold in multiple transactions ranging from $47.00 to $47.49, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Class A Common Stock sold at each separate price in the ranges set forth in this footnote.
- F3. The price reported is a weighted average price. These shares of Class A Common Stock of the Issuer were sold in multiple transactions ranging from $46.98 to $47.47, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Class A Common Stock sold at each separate price in the ranges set forth in this footnote.
- F4. Pursuant to the Amended and Restated Limited Liability Company Agreement of New Ryan Specialty, LLC, as amended, the reporting person may exchange all or a portion of such person's Common Units of the LLC (together with the delivery of an equal number of shares of Class B Common Stock of the Issuer) for shares of Class A Common Stock of the Issuer on a one-for-one basis, subject to customary adjustments, or, at the option of the Issuer, cash (based on the then-market value of the Class A Common Stock). The Common Units do not expire.
Key Figures
Class A shares sold: 50,000 shares
Weighted-average sale price: $47.3129 per share
Class A shares sold: 50,000 shares
+4 more
7 metrics
Class A shares sold
50,000 shares
November 9, 2026
Weighted-average sale price
$47.3129 per share
November 9, 2026
Class A shares sold
50,000 shares
November 10, 2026
Weighted-average sale price
$47.1836 per share
November 10, 2026
Exchange
40,000 Common Units for 40,000 Class A shares
November 9, 2026
Exchange
50,000 Common Units for 50,000 Class A shares
November 10, 2026
Class A shares gifted
7,577 shares
November 10, 2026
Key Terms
Common Units, Class B Common Stock, weighted average price, one-for-one basis
4 terms
Common Units technical
"exchange of Common Units for an equal number of shares of Class A Common Stock"
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
Class B Common Stock technical
"an equal number of shares of the Issuer's Class B Common Stock will be cancelled"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
weighted average price financial
"The price reported is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
one-for-one basis technical
"for shares of Class A Common Stock of the Issuer on a one-for-one basis"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How could Ryan Specialty Common Units be exchanged?
The LLC agreement permits exchange of Common Units, together with an equal number of Class B shares, for Class A shares on a one-for-one basis, subject to customary adjustments, or, at the issuer’s option, for cash based on the then-market value of Class A shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
