Nicholas Dominic Cortezi - May 9, 2023 Form 4 Insider Report for RYAN SPECIALTY HOLDINGS, INC. (RYAN)

Signature
Mark S. Katz, as Attorney-in-Fact
Stock symbol
RYAN
Transactions as of
May 9, 2023
Transactions value $
-$2,137,228
Form type
4
Date filed
5/11/2023, 05:00 PM
Previous filing
May 9, 2023
Next filing
May 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RYAN Class B Common Stock Conversion of derivative security $0 -25K -0.47% $0.00 5.3M May 9, 2023 By the Louise M. Cortezi Family Trust dated April 7, 2012 F1, F2
transaction RYAN Class A Common Stock Conversion of derivative security $0 +25K $0.00 25K May 9, 2023 By the Louise M. Cortezi Family Trust dated April 7, 2012 F2
transaction RYAN Class A Common Stock Sale -$1.06M -25K -100% $42.53 0 May 9, 2023 By the Louise M. Cortezi Family Trust dated April 7, 2012 F2, F3
transaction RYAN Class B Common Stock Conversion of derivative security $0 -25K -0.47% $0.00 5.27M May 10, 2023 By the Louise M. Cortezi Family Trust dated April 7, 2012 F1, F2
transaction RYAN Class A Common Stock Conversion of derivative security $0 +25K $0.00 25K May 10, 2023 By the Louise M. Cortezi Family Trust dated April 7, 2012 F2
transaction RYAN Class A Common Stock Sale -$1.07M -25K -100% $42.96 0 May 10, 2023 By the Louise M. Cortezi Family Trust dated April 7, 2012 F2, F4
holding RYAN Class B Common Stock 722K May 9, 2023 By the Louise M. Cortezi Family Resource Trust dated January 1, 2018 F1, F2

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 Common Units Conversion of derivative security $0 -25K -0.47% $0.00 5.3M May 9, 2023 Class A Common Stock 25K $0.00 By the Louise M. Cortezi Family Trust dated April 7, 2012 F2, F5
transaction RYAN Common Units Conversion of derivative security $0 -25K -0.47% $0.00 5.27M May 10, 2023 Class A Common Stock 25K $0.00 By the Louise M. Cortezi Family Trust dated April 7, 2012 F2, F5
holding RYAN Common Units 722K May 9, 2023 Class A Common Stock 722K $0.00 By the Louise M. Cortezi Family Resource Trust dated January 1, 2018 F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of Class B Common Stock, par value $0.001 per share, ("Class B Common Stock") do not represent economic interests in Ryan Specialty Holdings, Inc. (the "Issuer"). Except as provided in the Issuer's certificate of incorporation or as required by applicable law, holders of Class B Common Stock will be initially entitled to 10 votes per share on all matters to be voted on by the Issuer's stockholders generally. Upon exchange of Common Units ("Common Units") of New Ryan Specialty, LLC that are held by the Reporting Person and reported in Table II hereof, for an equal number of shares of Class A common Stock of the Issuer, an equal number of shares of the Issuer's Class B Common Stock will be cancelled for no consideration.
F2 The Reporting Person disclaims beneficial ownership except to the extent of their pecuniary interest therein.
F3 The price reported is a weighted average price. These shares of Class A Common Stock, par value $0.001 per share, ("Class A Common Stock") were sold in multiple transactions ranging from $42.16 to $43.00, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Class A Common Stock sold at each separate price in the ranges set forth in this footnote. The securities were sold pursuant to a 10b5-1 plan entered into on December 14, 2022.
F4 The price reported is a weighted average price. These shares of Class A Common Stock were sold in multiple transactions ranging from $42.71 to $43.25, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares of Class A Common Stock sold at each separate price in the ranges set forth in this footnote. The securities were sold pursuant to a 10b5-1 plan entered into on December 14, 2022.
F5 Pursuant to the Amended and Restated Limited Liability Company Agreement of New Ryan Specialty, LLC, as amended, the Reporting Person may exchange all or a portion of such person's Common Units (together with the delivery of an equal number of shares of Class B Common Stock) for shares of Class A Common Stock of the Issuer on a one-for-one basis, subject to customary adjustments, or, at the option of the Issuer, cash (based on the then-market value of the Class A Common Stock). The Common Units do not expire.

Remarks:

Chairman of Ryan Specialty Underwriting Managers