Form 4: MMC Director Adds 75.99 RSUs via Dividends

Director Anthony Anderson received 75.99 RSUs as dividend equivalents under Marsh & McLennan’s Directors Stock Compensation Plan on Nov. 14, 2025.

Summary

• On 2025-11-14, Director Anthony Anderson acquired 75.99 restricted stock units (RSUs) credited as dividend equivalents under Marsh & McLennan Companies’ Directors Stock Compensation Plan.
• The RSUs convert into MMC common stock on a 1-for-1 basis upon settlement.
• The price of the derivative security recorded for the credit was $183.435.
• Following the transaction, Anderson directly beneficially owns 15,563.68 derivative securities (RSUs).
• Transaction code reported as J (other), with the “V” indicator checked (voluntarily reported).
• Ownership form is Direct (D); no non-derivative transactions were reported and no exercise or expiration dates apply to these RSUs.

Sentiment

Score: 5

Explanation: Routine insider equity accrual with neutral implication; no operational or financial updates.

Positives

• Equity-based compensation aligns the director’s incentives with shareholders through 1-for-1 RSUs.
• The incremental accrual is small (75.99 units), indicating routine dividend-equivalent crediting.
• Clear disclosure of total RSUs held: 15,563.68 units.

Negatives

• No operational, financial, or guidance information provided; limited relevance to valuation.
• Ongoing equity accruals contribute minimally to dilution for existing shareholders.

Future Outlook

No forward-looking statements or guidance provided.

Management Comments

• RSUs convert into Marsh & McLennan common stock on a 1-for-1 basis.
• Units were acquired as dividend equivalents under the Directors Stock Compensation Plan.
• No exercise or expiration date is applicable to these RSUs.

Industry Context

Routine dividend-equivalent credits on director RSUs are standard across large insurance brokers and professional services peers; the transaction is administrative and does not signal operational changes.

Comparison to Industry Standards

• Director equity compensation with dividend-equivalent credits is standard practice at peers such as Aon (AON) and Willis Towers Watson (WTW).
• Use of 1-for-1 RSUs aligns with S&P 500 governance norms for non-employee director compensation.
• The small fractional accrual (75.99 units) is consistent with periodic dividend crediting observed across peers.

Stakeholder Impact

• Minimal shareholder dilution from the incremental RSU credit.
• Enhanced alignment of director and shareholder interests through stock-based compensation.
• No expected impact on customers, suppliers, employees, or creditors.

Key Dates

Keywords

Marsh & McLennan, MMC, Form 4, insider transaction, restricted stock units, RSU, dividend equivalents, director compensation, Anthony Anderson, beneficial ownership