Brennan Katherine 4

What Happened Katherine Brennan, SVP and General Counsel of Marsh & McLennan Companies (MRSH), received 6,970 shares on 2026-02-28 upon vesting/distribution of performance-based restricted stock units. Of those, 3,855 shares were withheld by the company to cover applicable taxes; the withheld shares were valued at $186.74 each, totaling approximately $719,883. The RSUs convert to common stock on a 1-for-1 basis.

Key Details

• Transaction date: 2026-02-28 (Form filed 2026-03-03).
• Shares received: 6,970 shares (conversion/exercise of RSUs / performance stock units).
• Shares withheld for taxes: 3,855 shares disposed at $186.74/sh, value ≈ $719,883.
• Price on conversion: reporting shows $0 for the conversion/vesting (standard for RSU vesting); withholding sale price shown as $186.74.
• Shares owned after transaction: not specified in the filing.
• Footnotes: These shares relate to performance stock units granted 2/23/2023 for the 2023–2025 performance period (F1). The security converts to common stock on a 1-for-1 basis (F2).
• Filing timeliness: Filing date (3/3/2026) covers the 2/28/2026 transaction and appears to be timely.

Context This was a routine vesting/distribution of performance RSUs with a tax-withholding share disposition — not an open-market sale or purchase based on new market views. Tax withholding (F code) is common and should not be interpreted on its own as a bullish or bearish signal.