Marsh & McLennan (MRSH) Director Morton Schapiro Receives 692 Shares

What Happened

• Morton O. Schapiro, a director of Marsh & McLennan Companies (MRSH), acquired a total of 692.29 derivative shares through director compensation: 473.39 shares on 2026-08-14 (valued at $89,542) and 218.90 shares on 2026-08-15 (valued at $41,251). These are reported as derivative acquisitions (codes J and A) and are awards/compensation rather than open-market purchases.

Key Details

• Transaction dates and amounts:
  • 2026-08-14: 473.39 shares @ $189.15 = $89,542 (code J — other acquisition/disposition)
  • 2026-08-15: 218.90 shares @ $188.44 = $41,251 (code A — grant/award)
• Total: 692.29 shares, aggregate value ~$130,793.
• Shares owned after transaction: Not reported in this filing.
• Footnotes:
  • F1: Each derivative security converts to Marsh & McLennan common stock on a 1-for-1 basis.
  • F2: Shares were acquired with dividend equivalents credited under the Marsh & McLennan Directors Stock Compensation Plan.
  • F4: The awards were acquired in connection with director fees under the Directors Stock Compensation Plan.
• Filing timeliness: Transactions occurred 2026-08-14/15; Form 4 was filed 2026-08-18 (outside the typical 2-business-day reporting window), indicating a late filing.

Context

• These entries are derivative awards tied to director compensation (not option exercises followed by immediate sale). Such awards are routine for directors and reflect compensation rather than an open-market investment decision. They convert 1-for-1 into common shares and include dividend-equivalent credits per the plan.