Ryan Specialty co-president sells 40,000 shares
Ryan Specialty’s Co-President and CRO converted 40,000 units into Class A shares and sold those 40,000 shares at a weighted average of about $40.51.
Rhea-AI Filing Summary
RYAN SPECIALTY HOLDINGS, INC. (RYAN) reported that Co-President and CRO Brendan Martin Mulshine converted equity interests and sold shares. On September 4, 2026 he converted 40,000 Common Units of New Ryan Specialty, LLC into 40,000 shares of Class A Common Stock, with a corresponding 40,000 shares of Class B Common Stock cancelled. Following this exchange, he held 604,235 Common Units and 604,235 shares of Class B Common Stock. On September 8, 2026 he sold 40,000 Class A shares in open-market or private transactions at a weighted average price of $40.508 per share. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
4 txns
Insider
MULSHINE BRENDAN MARTIN
Role
Co-President and CRO
Sold
40,000 shs ($1.62M)
Approx. gross sale proceeds
$1.62M
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock F2 | 40,000 | $40.508 | $1.62M |
| Conversion | Common Units F3 | 40,000 | $0.00 | $0.00 |
| Conversion | Class B Common Stock F1 | 40,000 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 40,000 | $0.00 | $0.00 |
Holdings After Transaction:
Common Units — 604,235 contracts (Direct);
Class B Common Stock — 604,235 shares (Direct);
Class A Common Stock — 75,366 shares (Direct)
Footnotes (3)
- 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 $40.47 to $40.67, 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. 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: 40,000 shares
Weighted average sale price: $40.508 per share
Common Units converted: 40,000 units
+3 more
6 metrics
Class A shares sold
40,000 shares
Sale of Class A Common Stock on September 8, 2026
Weighted average sale price
$40.508 per share
Class A Common Stock sale on September 8, 2026
Common Units converted
40,000 units
Conversion of Common Units on September 4, 2026
Class B shares cancelled
40,000 shares
Cancellation tied to exchange into Class A on September 4, 2026
Common Units held after conversion
604,235 units
Reported holdings following September 4, 2026 transaction
Class B shares held after conversion
604,235 shares
Reported holdings following September 4, 2026 transaction
Key Terms
Common Units, Class B Common Stock, Class A Common Stock, weighted average price, +1 more
5 terms
Common Units financial
"may exchange all or a portion of such person's Common Units of the LLC"
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 financial
"Shares of Class B Common Stock, par value $0.001 per share"
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.
Class A Common Stock financial
"for shares of Class A Common Stock of the Issuer on a one-for-one basis"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
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.
Amended and Restated Limited Liability Company Agreement regulatory
"Pursuant to the Amended and Restated Limited Liability Company Agreement of New Ryan Specialty, LLC"
FAQ
What insider transaction did RYAN’s Co-President Brendan Mulshine report?
Brendan Mulshine reported converting 40,000 Common Units into 40,000 Class A Common Stock of Ryan Specialty on September 4, 2026, and then selling 40,000 Class A shares on September 8, 2026 in open-market or private transactions.
What equity interests in RYAN did the insider convert before the sale?
On September 4, 2026 he converted 40,000 Common Units of New Ryan Specialty, LLC into 40,000 shares of Class A Common Stock, and an equal number of 40,000 shares of Class B Common Stock were cancelled for no consideration in connection with the exchange.
What holdings did the RYAN insider report after the unit conversion?
After the September 4, 2026 conversion, he reported holding 604,235 Common Units of New Ryan Specialty, LLC and 604,235 shares of Class B Common Stock, both held directly, according to the Form 4 disclosure.
Was the RYAN insider sale made under a Rule 10b5-1 trading plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as an affirming plan, so no Rule 10b5-1 trading plan is reported for these transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
