Yates Lloyd M 4

What Happened
Lloyd M. Yates, a director of Marsh & McLennan Companies (MRSH), acquired a total of 263.51 derivative shares through the company’s directors stock compensation plan. The filing shows a 54.59-share acquisition on 2026-02-13 at $172.98 each (value $9,443) and a 208.92-share award on 2026-02-15 at $173.51 each (value $36,250). These are compensation-related derivative awards (total value ≈ $45,693), not open-market purchases.

Key Details

• Transaction dates and prices:
  • 2026-02-13: Other acquisition (code J) — 54.59 shares @ $172.98 = $9,443 (derivative)
  • 2026-02-15: Grant/award (code A) — 208.92 shares @ $173.51 = $36,250 (derivative)
• Total shares acquired: 263.51; total reported value ≈ $45,693.
• Shares owned after transaction: Not specified in this Form 4.
• Footnotes of note:
  • F1: The derivative converts to Marsh & McLennan common stock on a 1-for-1 basis.
  • F2: Some shares were acquired with dividend equivalents credited under the Directors Stock Compensation Plan.
  • F4: Awards were issued in connection with director fees under the Directors Stock Compensation Plan.
• Filing: Form 4 filed 2026-02-18 reporting transactions from mid-February 2026.

Context
These transactions reflect director compensation (deferred/derivative awards that convert to common stock) rather than a personal cash purchase or sale. Such awards are routine for board members and do not by themselves indicate the director’s personal trading view of the company.