ONEX CORP - 05 Dec 2025 Form 4 Insider Report for RYAN SPECIALTY HOLDINGS, INC. (RYAN)

Reporting relationship: Director
Issuer ticker: RYAN
Reported as of: 05 Dec 2025
Net transaction value: -$225,936,344
SEC form: 4
Accepted by SEC: 05 Dec 2025, 16:26:58 UTC
Prior SEC filing: 10 Feb 2026
Next SEC filing: 14 Jul 2026
Source filing: View source filing
Reporting owner signature: /s/ David Copeland, Managing Director - Tax of Onex Corp.

Key filing fact

ONEX CORP filed Form 4 for RYAN SPECIALTY HOLDINGS, INC. (RYAN) on 05 Dec 2025.

Key facts

This page summarizes ONEX CORP's Form 4 filing for RYAN SPECIALTY HOLDINGS, INC. (RYAN).
1 reported transaction and 0 derivative rows are listed below.
Accepted by SEC: 05 Dec 2025, 16:26.

Change

Previous filing in this sequence was filed on 10 Feb 2026.
Current net transaction value: -$225,936,344.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (5)

CIK 0000937226 Primary reporting owner

ONEX CORP

Relationship: Director
Address: 161 BAY STREET, SUITE 4900, TORONTO, ONTARIO, CANADA
Signature: /s/ David Copeland, Managing Director - Tax of Onex Corp.
Signature date: 05 Dec 2025

CIK 0001871725

Onex RSG GP Inc.

Relationship: Director
Address: 712 FIFTH AVENUE, 40TH FLOOR, NEW YORK
Signature: /s/ John Neelamkavil, Treasurer of Onex RSG GP Inc.
Signature date: 05 Dec 2025

CIK 0001871656

Onex RSG Holdings LP

Relationship: Director
Address: 712 FIFTH AVENUE, 40TH FLOOR, NEW YORK
Signature: /s/ John Neelamkavil, Treasurer of Onex RSG GP Inc., the general partner of Onex RSG Holdings LP
Signature date: 05 Dec 2025

CIK 0001871724

Onex RSG LP

Relationship: Director
Address: 712 FIFTH AVENUE, 40TH FLOOR, NEW YORK
Signature: /s/ John Neelamkavil, Treasurer of Onex RSG GP Inc., the general partner of Onex RSG LP
Signature date: 05 Dec 2025

CIK 0001275599

SCHWARTZ GERALD W

Relationship: Director
Address: 161 BAY STREET, SUITE 4900, TORONTO, ONTARIO, CANADA
Signature: /s/ Chris Govan, attorney-in-fact for Gerald W. Schwartz
Signature date: 05 Dec 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

RYAN transaction

Class A Common Stock

Sale

Transaction value: $225,936,344
Shares: -4,145,621
Change %: -100%
Price: $54.50
Shares after: 0
Date: 05 Dec 2025
Ownership: See footnotes
Footnotes: F1, F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote F1

Following the transaction reported above, no shares of the Issuer's Class A Common Stock are held by any of the Reporting Persons.

Footnote F2

Onex Corporation owns all of the equity of Onex RSG GP Inc., which is the general partner of Onex RSG LP and Onex RSG Holdings LP. Mr. Gerald W. Schwartz, the Chairman of Onex Corporation, indirectly owns shares representing a majority of the voting rights of the shares of Onex Corporation. Each of Onex RSG GP Inc., Onex Corporation and Mr. Schwartz disclaim beneficial ownership over the shares of Class A Common Stock held prior to the transaction reported herein by Onex RSG LP and Onex RSG Holdings LP except to the extent of their pecuniary interests therein.

SEC remarks

Robert LeBlanc, Chief Executive Officer of Onex Corporation, currently serves on the board of directors of the Issuer, and therefore each of the Reporting Persons may be deemed a "director by deputization" of the Issuer.