Ryan Specialty director granted 4,615 RSUs

BUNGERT MICHAEL G reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

BUNGERT MICHAEL G reported acquisition or exercise transactions in this Form 4 filing.

Ryan Specialty Holdings director granted equity award

Director Michael G. Bungert received an award of 4,615 Restricted Stock Units tied to Ryan Specialty Holdings Class A common stock. The units vested immediately upon grant, but he elected to defer settlement until his separation from service on the board of directors.

The grant had a stated price of $0.00 per share, reflecting that it is a compensation award rather than a market purchase. Following this award, his reported direct position from this grant is 4,615 units.

Insider Trade Summary

Grant/Award: 4,615 shares

Grant/Award 1 txn

Insider BUNGERT MICHAEL G

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	4,615	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 4,615 shares (Direct)

Footnotes (2)

1. F1. The reported securities represent Restricted Stock Units that vested immediately upon grant for which the reporting person has elected to defer settlement until their separation from service on the board of directors.
2. F2. The grant was approved by the Board of the Issuer for purposes of Rule 16(b)(3).

Key Figures

RSUs granted: 4,615 units Grant price: $0.00 per share Holdings after grant: 4,615 units +1 more

4 metrics

RSUs granted 4,615 units Restricted Stock Units awarded to director

Grant price $0.00 per share Compensation grant, not market purchase

Holdings after grant 4,615 units Direct position reported following transaction

Grant date 2026-04-28 Transaction date for RSU award

Key Terms

Restricted Stock Units, Rule 16(b)(3), separation from service

3 terms

Restricted Stock Units financial

"The reported securities represent Restricted Stock Units that vested immediately upon grant"

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.

Rule 16(b)(3) regulatory

"The grant was approved by the Board of the Issuer for purposes of Rule 16(b)(3)."

separation from service financial

"defer settlement until their separation from service on the board of directors."

FAQ

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

What did director Michael G. Bungert report in this Form 4 for RYAN?

Director Michael G. Bungert reported receiving 4,615 Restricted Stock Units tied to Ryan Specialty Holdings Class A common stock. These units vested immediately upon grant as part of his board compensation, rather than being acquired through an open-market purchase.

How many Ryan Specialty (RYAN) shares are covered by Bungert’s award?

The award covers 4,615 Restricted Stock Units linked to Ryan Specialty Holdings Class A common stock. This entire amount is reported as directly held following the transaction, reflecting a single compensation-related equity grant to the director.

Did Bungert buy or sell Ryan Specialty (RYAN) shares in the market?

No open-market buy or sell occurred. The Form 4 shows an “A” code transaction, indicating a grant or award of 4,615 Restricted Stock Units as director compensation, with a reported price of $0.00 per share rather than a traded market price.

When do Bungert’s 4,615 Restricted Stock Units in RYAN settle?

The Restricted Stock Units vested immediately upon grant, but settlement is deferred. According to the filing, Bungert elected to defer settlement until his separation from service on the Ryan Specialty Holdings board of directors, delaying delivery of the underlying shares.

What does Rule 16(b)(3) approval mean in this RYAN Form 4 filing?

The filing notes the grant was approved by the board for purposes of Rule 16(b)(3). This indicates the equity award was formally authorized in a way that addresses short-swing profit rules applicable to insiders under U.S. securities regulations.

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

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Accepted by SEC EDGAR 04/30/2026 - 06:16 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^*

BUNGERT MICHAEL G

(Last) (First) (Middle)

155 NORTH WACKER DRIVE, SUITE 4000

(Street)

CHICAGO ILLINOIS 60606

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
04/28/2026

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
Class A Common Stock	04/28/2026		A		4,615(1)(2)	A	$0	4,615(1)	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

Explanation of Responses:

1. The reported securities represent Restricted Stock Units that vested immediately upon grant for which the reporting person has elected to defer settlement until their separation from service on the board of directors.

2. The grant was approved by the Board of the Issuer for purposes of Rule 16(b)(3).

Remarks:

	/s/ Mark S. Katz, as Attorney-in-Fact	04/30/2026
	** 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)