Marsh & McLennan (MMC) CEO exercises 21,079 options and sells 21,079 shares

Rhea-AI Filing Summary

Marsh & McLennan Companies, Inc. president and CEO exercised stock options and sold shares of the company on 12/01/2025. He exercised stock options covering 21,079 shares of common stock at an exercise price of $63.09 per share, increasing his directly owned common stock to 108,760.0205 shares.

On the same day, he sold 21,079 shares of Marsh & McLennan common stock at a sale price of $182.22 per share, leaving him with 87,681.0205 shares of common stock held directly after the transaction. The filing notes that the trades were made pursuant to a previously adopted Rule 10b5-1 trading plan.

Insider Trade Summary

Net Seller: 21,079 shares ($3,841,015)

Net Sell 3 txns

Insider Doyle John Q

Role President and CEO

Sold 21,079 shs ($3.84M)

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy)	21,079	$0.00	--
Exercise	Common Stock	21,079	$63.09	$1.33M
Sale	Common Stock	21,079	$182.22	$3.84M

Holdings After Transaction: Stock Options (Right to Buy) — 0 shares (Direct); Common Stock — 108,760.021 shares (Direct)

Footnotes (1)

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person. These options were granted on May 1, 2016 and vested in four equal annual installments on May 1st of 2017, 2018, 2019 and 2020.

Form 4 Insider Transactions: What Each Field Means →

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).

X

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^*

Doyle John Q

(Last) (First) (Middle)

1166 AVENUE OF THE AMERICAS

(Street)

NEW YORK NY 10036

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MARSH & MCLENNAN COMPANIES, INC. [ MMC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025

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
Common Stock	12/01/2025		M(1)		21,079	A	$63.09	108,760.0205	D
Common Stock	12/01/2025		S(1)		21,079	D	$182.22	87,681.0205	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
Stock Options (Right to Buy)	$63.09	12/01/2025		M(1)			21,079	(2)	04/30/2026	Common Stock	21,079	$0	0	D

Explanation of Responses:

1. This transaction was effected pursuant to a Rule 10b5-1 trading plan previously adopted by the Reporting Person.

2. These options were granted on May 1, 2016 and vested in four equal annual installments on May 1st of 2017, 2018, 2019 and 2020.

	/s/ Tessa Patti, Attorney-in-fact	12/02/2025
	** 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 insider transaction did Marsh & McLennan (MMC) report in this Form 4?

The president and CEO of Marsh & McLennan Companies, Inc. reported exercising stock options for 21,079 shares of common stock and selling 21,079 shares of common stock on 12/01/2025.

At what prices did the Marsh & McLennan (MMC) CEO exercise and sell shares?

The CEO exercised stock options at an exercise price of $63.09 per share and sold 21,079 shares of Marsh & McLennan common stock at a sale price of $182.22 per share.

How many Marsh & McLennan (MMC) shares does the CEO own after this transaction?

Following the reported sale on 12/01/2025, the CEO directly owns 87,681.0205 shares of Marsh & McLennan common stock.

Were the Marsh & McLennan (MMC) CEO’s trades under a Rule 10b5-1 plan?

Yes. The filing states that the transaction was effected pursuant to a Rule 10b5-1 trading plan that had been previously adopted by the reporting person.

What happened to the CEO’s Marsh & McLennan (MMC) stock options in this Form 4?

The CEO exercised stock options (right to buy) covering 21,079 shares of common stock at an exercise price of $63.09 per share, and after the transaction the filing shows 0 derivative securities beneficially owned.

When were the Marsh & McLennan (MMC) stock options originally granted and how did they vest?

The filing explains that the options were granted on May 1, 2016 and vested in four equal annual installments on May 1, 2017, 2018, 2019 and 2020.