Katherine Brennan, SVP and General Counsel of Marsh & McLennan Companies, Inc. (NYSE:MRSH), filed a Form 4 on September 3, 2026, disclosing a same-day option exercise and sale of 1,197 shares of common stock on September 2, 2026.

Key Highlights

  • Option exercise: Brennan acquired 1,197 shares via stock option exercise (transaction code M) at an exercise price of $83.046 per share.
  • Shares sold: Brennan disposed of 1,197 shares (transaction code S) at a price of $187.899 per share.
  • Remaining ownership: Following the transactions, Brennan directly holds 7,330 shares of common stock.
  • Options exhausted: The exercised stock options now show 0 derivative securities beneficially owned following the transaction.
  • Original grant: According to the filing, the options were granted on February 21, 2018, and vested in four equal annual installments on February 21st of 2019, 2020, 2021, and 2022, with an expiration date of February 20, 2028.

Brennan's Option Exercise and Share Sale at Marsh & McLennan

Katherine Brennan, identified in the filing as SVP and General Counsel of Marsh & McLennan Companies, Inc., executed two transactions on September 2, 2026. She first exercised stock options to acquire 1,197 shares of common stock at the exercise price of $83.046 per share, bringing her total beneficial ownership to 8,527 shares directly held at that point in the sequence of transactions.

Immediately following the exercise, the filing reports that Brennan disposed of the same 1,197 shares at a sale price of $187.899 per share, reducing her directly held position to 7,330 shares. The filing notes the options had been granted on February 21, 2018, and fully vested by February 21, 2022, through four equal annual installments. The derivative security carried a price of $0 at the time of exercise, and the options carried an expiration date of February 20, 2028, according to the filing.

The Form 4 was signed by Tessa Patti as attorney-in-fact on September 3, 2026, and was filed as a single reporting person disclosure. No indication of a Rule 10b5-1 plan is marked on this filing.

What Was Disclosed

The filing reports a same-day exercise and sale of 1,197 stock options by Marsh & McLennan's SVP and General Counsel, Katherine Brennan, on September 2, 2026, resulting in a remaining direct ownership of 7,330 common shares.