South Martin 4

What Happened

• South Martin, President & CEO of Marsh Risk at Marsh & McLennan Companies (MRSH), was granted a total of 54,248 derivative equity awards on February 24, 2026: 39,772 stock options and 14,476 restricted stock units (converted from performance stock units). Both awards show an acquisition price of $0.00 in the filing, meaning no cash was paid at grant; they are long-term compensation, not open-market purchases or sales.

Key Details

• Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (filed within the standard 2-business-day window).
• Awards: 39,772 options (F1) and 14,476 RSUs (performance-based, F3); total = 54,248 derivative awards.
• Price/value reported at grant: $0.00 per award (derivative grants, value realized only on vesting/settlement).
• Vesting/settlement notes:
  • F1: The options vest in four equal annual installments on Feb 24 of 2027, 2028, 2029 and 2030.
  • F3/F2: The RSUs resulted from PSUs for the 2023–2025 performance period; the performance factor was determined Feb 24, 2026, and the security converts to common stock on a 1-for-1 basis.
• Shares owned after the transaction: not specified in the Form 4 filing.
• No 10b5-1 plan, tax-withholding sale, or late filing indicated in the disclosed footnotes.

Context

• These are compensation grants (derivative awards). Options will only become valuable if the stock price exceeds the exercise terms when they vest; RSUs/PSUs convert to common shares per the stated 1-for-1 conversion and performance determination. Because this is an award/grant (code A), it’s routine executive compensation rather than a buy/sell that signals immediate insider sentiment.