Benjamin MIles Wuller - Apr 1, 2025 Form 4 Insider Report for RYAN SPECIALTY HOLDINGS, INC. (RYAN)

Role: CEO RSUM
Signature: /s/ Mark S. Katz, as Attorney-in-Fact
Stock symbol: RYAN
Transactions as of: Apr 1, 2025
Transactions value $: -$89,235
Form type: 4
Date filed: 4/2/2025, 07:07 PM
Previous filing: Nov 7, 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RYAN	Class A Common Stock	Options Exercise		+2.73K	+2.94%		95.3K	Apr 1, 2025	Direct	F1
transaction	RYAN	Class A Common Stock	Tax liability	-$89.2K	-1.21K	-1.27%	$73.87	94.1K	Apr 1, 2025	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	RYAN	Restricted LLC Units	Options Exercise	$0	-2.73K	-100%	$0.00	0	Apr 1, 2025	Class A Common Stock	2.73K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Restricted LLC Units of New Ryan Specialty, LLC (the "LLC") vested and, at the option of the Issuer, settled into shares of Class A common stock of the Issuer.
F2	Represents Restricted LLC Units of the LLC granted on March 18, 2022 which vested on April 1, 2025. Such grant was approved by the Board of the Issuer for purposes of Rule 16(b)(3). Each Restricted LLC Unit represents a contingent right to receive on vesting (i) one Common Unit of the LLC and one share of Class B common stock of the Issuer or (ii) at the option of the issuer, one share of Class A common stock of the Issuer. The Common Units are exchangeable on a one-for-one basis for Class A common stock.

Content

The Restricted LLC Units of New Ryan Specialty, LLC (the "LLC") vested and, at the option of the Issuer, settled into shares of Class A common stock of the Issuer.

Represents Restricted LLC Units of the LLC granted on March 18, 2022 which vested on April 1, 2025. Such grant was approved by the Board of the Issuer for purposes of Rule 16(b)(3). Each Restricted LLC Unit represents a contingent right to receive on vesting (i) one Common Unit of the LLC and one share of Class B common stock of the Issuer or (ii) at the option of the issuer, one share of Class A common stock of the Issuer. The Common Units are exchangeable on a one-for-one basis for Class A common stock.