Ryan Specialty (RYAN) awards 24,869 Restricted Stock Units to co-president

Rhea-AI Filing Summary

RYAN Specialty Holdings, Inc. reported that Co-President and CRO Brendan Martin Mulshine acquired a grant of 24,869 Restricted Stock Units on March 3, 2026. Each RSU represents a contingent right to receive one share of Class A common stock, vesting in three equal annual installments beginning on April 1, 2029.

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

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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^*

MULSHINE BRENDAN MARTIN

(Last) (First) (Middle)

155 NORTH WACKER DRIVE, SUITE 4000

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-President and CRO

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026

4. 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 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 Stock Unit	(1)	03/03/2026		A		24,869		(2)	(2)	Class A Common Stock	24,869	$0	24,869	D

Explanation of Responses:

1. Each Restricted Stock Unit represents a contingent right to receive on vesting one share of Class A common stock of Ryan Specialty Holdings, Inc.

2. The Restricted Stock Units vest in three equal annual installments beginning on April 1, 2029.

Remarks:

	/s/ Mark S. Katz, as Attorney-in-Fact	03/05/2026
	** 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.

FAQ

What insider transaction did RYAN report for Brendan Martin Mulshine?

RYAN Specialty Holdings reported that Co-President and CRO Brendan Martin Mulshine received a grant of 24,869 Restricted Stock Units on March 3, 2026. This is an equity award rather than an open-market stock purchase or sale.

How many Restricted Stock Units were granted in the latest RYAN Form 4?

The Form 4 shows a grant of 24,869 Restricted Stock Units to Co-President and CRO Brendan Martin Mulshine. Following this grant, he held 24,869 RSUs, all reported as directly owned derivative securities linked to RYAN’s Class A common stock.

What does each RYAN Restricted Stock Unit represent for Brendan Mulshine?

Each Restricted Stock Unit reported for Brendan Mulshine represents a contingent right to receive one share of RYAN Specialty Holdings’ Class A common stock upon vesting. The units themselves are derivative awards tied to future delivery of common shares.

What is the vesting schedule for Brendan Mulshine’s RYAN Restricted Stock Units?

The Restricted Stock Units granted to Brendan Mulshine vest in three equal annual installments. According to the filing, vesting begins on April 1, 2029, meaning one-third of the RSUs is scheduled to vest each year starting on that date.

Is Brendan Mulshine’s RYAN equity award a direct or indirect holding?

The Form 4 classifies Brendan Mulshine’s 24,869 Restricted Stock Units as a direct holding. The ownership code is listed as “D,” indicating direct ownership rather than indirect holdings through another entity, based on the information provided.