Michael Thomas Vanacker - Mar 6, 2023 Form 4 Insider Report for RYAN SPECIALTY HOLDINGS, INC. (RYAN)

Role: Executive Vice President and Chief Operating Officer
Signature: Mark S. Katz, Attorney-in-Fact
Stock symbol: RYAN
Transactions as of: Mar 6, 2023
Transactions value $: -$1,833,746
Form type: 4
Date filed: 3/8/2023, 05:42 PM
Previous filing: Mar 22, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	RYAN	Class B Units	Conversion of derivative security	$0	-45K	-15.35%	$0.00	248K	Mar 6, 2023	Direct	F1, F2, F3
transaction	RYAN	Class A Common Stock	Conversion of derivative security	$0	+45K		$0.00	45K	Mar 6, 2023	Direct	F2, F3
transaction	RYAN	Class A Common Stock	Sale	-$1.83M	-45K	-100%	$40.75	0	Mar 6, 2023	Direct	F2, F3, F4

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	-45K	-15.35%	$0.00	248K	Mar 6, 2023	Class A Common Stock	45K	$0.00	Direct	F2, F3, 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 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. Common Units ("Common Units") of New Ryan Specialty, LLC that that are held by the Reporting Person and reported in Table II hereof may be exchanged for an equal number of shares of Class A common Stock of the Issuer and an equal number of shares of the Issuer's Class B Common Stock will be cancelled for no consideration.
F2	This transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on 12/13/2022.
F3	The Reporting Person disclaims beneficial ownership except to the extent of their pecuniary interest therein.
F4	The price reported is a weighted average price. These shares of Class A Common Stock of Ryan Specialty Holdings, Inc. (the "Issuer") were sold in multiple transactions ranging from $40.60 to $40.89, 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 Common Stock sold at each separate price in the ranges set forth in this footnote.
F5	Each Common Unit, together with a share of Class B Common Stock, may be converted by the holder into one share of Class A Common Stock at any time. The LLC Common Units do not expire.

Remarks:

Executive Vice President and Chief Operating Officer