Hamilton Janice M 4

What Happened
Janice M. Hamilton, Chief Financial Officer of Ryan Specialty Holdings, had Restricted LLC Units vest and convert into 5,821 shares of the issuer's Class A common stock on July 22, 2026. To satisfy tax withholding, 1,706 of those shares were withheld and valued at $40.89 per share, for a withholding amount of $69,758. The conversion/settlement involved no purchase price for the converted units.

Key Details

• Transaction date: July 22, 2026; Form 4 filed July 24, 2026 (appears timely under Form 4 rules).
• Shares received on conversion/settlement: 5,821 (derivative conversion; transaction code M).
• Shares withheld for taxes: 1,706 at $40.89/share = $69,758 (tax withholding; transaction code F).
• Net shares retained by insider after withholding: 4,115 (5,821 − 1,706).
• Footnote: These were Restricted LLC Units of New Ryan Specialty, LLC that vested and, at the issuer’s option, settled into Class A common stock. The units were originally granted July 22, 2021 and follow a multi-year vesting schedule (10% annually from 7/22/2024–7/22/2030, then 30% on 7/22/2031).
• Shares owned after the transaction: not specified in the filing.

Context
This was a vesting/conversion of restricted LLC units into common stock, with routine tax-withholding shares surrendered to the issuer — not an open-market sale. Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability. Such administrative withholding is common and should not be interpreted as a market-direction trade by the insider.