[Form 4] Ryan Specialty Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Ryan Specialty Holdings director Ryan Patrick G Jr reported modest incremental purchases of Class A common stock and dividend reinvestment activity that together increased his reported beneficial ownership by 100 shares to 256,194.053 shares. The filing shows earlier dividend reinvestment acquisitions on 03/18/2025, 05/27/2025, and 08/26/2025 that were attributed to the reporting person’s spouse and originally qualified for deferred reporting under Rule 16a-6. The most recent open-market purchase recorded is 100 shares at $55.54 on 09/02/2025. The filing discloses direct ownership and indicates these transactions were reported by one reporting person.

Insights

Securities Analyst

TL;DR: Transactions are immaterial in size and reflect routine dividend reinvestment plus a small direct purchase.

The reporting shows a net increase of 100 shares to total beneficial ownership of 256,194.053 shares. Multiple prior entries are labeled as dividend reinvestments for the reporting person’s spouse and were deferred under Rule 16a-6, indicating non-discretionary reinvestment activity rather than active trading. The lone open-market purchase of 100 shares at $55.54 is small relative to the reported holding and is unlikely by itself to be material to valuation or control. Disclosure appears consistent with Section 16 reporting requirements.

Corporate Governance Expert

TL;DR: Governance disclosure is clear; transactions primarily reflect routine reinvestment and a minor purchase.

The Form 4 identifies the reporting person as a director and reports direct ownership form. The explanation clarifies that several shares were acquired via the spouse’s dividend reinvestment elections made before the reporting person became an insider, which explains deferred reporting treatment. The filing is signed via attorney-in-fact, and the transaction codes and prices are provided, supporting transparency. No material governance concerns are evident from these entries alone.

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^*

RYAN PATRICK G JR

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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
Class A Common Stock	03/18/2025		L	V	4.052(1)	A	$71.35	256,084.555	D
Class A Common Stock	05/27/2025		L	V	4.339(1)	A	$68.82	256,088.894	D
Class A Common Stock	08/26/2025		L	V	5.159(1)	A	$57.99	256,094.053	D
Class A Common Stock	09/02/2025		P		100	A	$55.54	256,194.053	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. Represents shares acquired by the reporting person's spouse pursuant to brokerage dividend reinvestments elected prior to the reporting person becoming an insider. The reported transactions originally qualified for deferred reporting pursuant to Rule 16a-6 of the Securities Exchange Act of 1934.

Remarks:

	/s/ Mark S. Katz, as Attorney-in-Fact	09/02/2025
	** 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 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 change in beneficial ownership did Ryan Patrick G Jr report for RYAN?

The reporting person’s beneficial ownership increased by 100 shares to 256,194.053 shares of Class A common stock.

What was the price and size of the most recent open-market transaction?

A purchase of 100 shares at a price of $55.54 was reported on 09/02/2025.

Are there any non-market acquisitions disclosed?

Yes; multiple entries on 03/18/2025, 05/27/2025, and 08/26/2025 reflect shares acquired via the reporting person’s spouse through dividend reinvestments.

What is the reported relationship of the reporting person to Ryan Specialty Holdings (RYAN)?

The filer is identified as a director of Ryan Specialty Holdings and the form was filed by one reporting person.

Did the filing indicate any indirect beneficial ownership or special arrangements?

The filing explains that some shares were acquired by the reporting person’s spouse and were previously deferred under Rule 16a-6; no other indirect ownership or arrangements are specified.