Beswick Paul 4

What Happened

• Paul Beswick, SVP and Chief Information Officer at Marsh & McLennan Companies (MRSH), had 6,970 shares underlying performance-based restricted stock units convert to common stock on Feb 28, 2026. Per the filing, 3,403 of those shares were withheld by the company to cover tax obligations, resulting in approximately 3,567 net shares delivered to Beswick. The withheld shares were valued at $186.74 each (total ~$635,476). The RSUs relate to performance stock units granted Feb 23, 2023 for the 2023–2025 performance period.

Key Details

• Transaction date: 2026-02-28; Form 4 filed 2026-03-03 (appears timely).
• Reported entries: conversion/exercise of derivative (M) for 6,970 shares (converted 1-for-1 to common stock); tax withholding (F) of 3,403 shares at $186.74/share (≈ $635,476).
• Net shares received by Beswick: 6,970 vested − 3,403 withheld = 3,567 shares.
• Shares owned after transaction: not reported in this filing.
• Footnotes: F1 notes the 6,970 RSUs relate to PSUs granted 2/23/2023 (performance period 2023–2025) and that 3,403 shares were withheld for taxes; F2 confirms a 1-for-1 conversion to common stock.
• No 10b5-1 plan, gift, or other special plan is indicated; this appears to be routine vesting and withholding.

Context

• This was not an open-market purchase or sale for investment signaling; it was the vesting/distribution of performance-based equity and standard tax withholding (a common liquidity action tied to compensation). For derivative conversions like this, the useful detail for investors is the number of shares vested and any shares withheld rather than a directional bet by the insider.