Every material Form 8-K Ryan Specialty filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Ryan Specialty said Robert Le Blanc, CEO of Onex Corporation, will retire from its Board of Directors effective February 11, 2026, and also end his service on the Compensation and Governance Committee on that date. The company said the retirement is by mutual agreement following Onex's sale of its remaining shares of Ryan Specialty and is not the result of any disagreement. The filing contains no financial results or guidance, so the change is governance-related with no stated financial effect.
Le Blanc agreed to retire from the Board on December 5, 2025, effective February 11, 2026.
His Compensation and Governance Committee service also ends February 11, 2026.
Le Blanc, Onex CEO, has served on the Board since 2018 as Onex's nominee.
Onex sold its remaining shares of Ryan Specialty before the retirement was agreed.
Ryan Specialty reported third-quarter 2025 total revenue of $754.6 million, up 24.8% from a year earlier, and net income of $62.6 million, up 118.6%. The company also declared a $0.12 quarterly dividend and revised its full-year 2025 outlook, now guiding to double-digit organic revenue growth and an Adjusted EBITDAC margin that is flat to modestly down from 2024.
Total revenue $754.6 million, up 24.8% from $604.7 million; organic revenue growth rate 15.0%
Diluted EPS $0.20 versus $0.09; adjusted diluted EPS $0.47 versus $0.41, up 14.6%
Adjusted EBITDAC margin 31.2% versus 31.5% a year earlier; full-year 2025 margin guided flat to modestly down
Quarterly dividend of $0.12 per Class A share, payable November 25, 2025, to holders of record on November 11, 2025
Ryan Specialty appointed Chief Operating Officer Stephen Keogh and Chief Revenue Officer Brendan Mulshine as Co-Presidents, succeeding Jeremiah Bickham, who stepped down as President and moved to a non-employee strategic advisor role through January 1, 2026. The change alters the company's senior leadership structure, and the filing does not state compensation changes for either executive.
Stephen P. Keogh, age 59, is Co-President and Chief Operating Officer, effective October 9, 2025; he has served as COO since May 2025.
Brendan M. Mulshine, age 59, is Co-President and Chief Revenue Officer; he has served as CRO since 2020 and with the company since 2012.
Jeremiah Bickham's transition was agreed October 2, 2025, effective October 8, 2025, and he will serve as a strategic advisor through January 1, 2026.
Compensation changes for Keogh and Mulshine have not been determined.
Ryan Specialty Holdings elected Michael G. Bungert as a director effective September 3, 2025, and assigned him to the Compensation and Governance Committee. The filing describes him as a reinsurance veteran who retired in 2024 as Chairman of Aon Re Global, and sets out his director pay, which includes $200,000 in restricted stock units and $120,000 in annual cash fees. This is a board addition rather than a change in operations or financial results.
Board elected Michael G. Bungert as a director on September 3, 2025; his initial term runs to the 2026 annual meeting.
He joins the Compensation and Governance Committee, receiving no extra cash pay for committee service.
Director pay includes RSUs with a grant date fair value of $200,000, prorated for 2025, and $120,000 per year in cash paid quarterly.
Mr. Bungert retired in 2024 as Chairman of Aon Re Global after 11 years in that role.
Ryan Specialty reported second-quarter 2025 results for the period ended June 30, with total revenue up 23.0% and net income up 5.6%. The company cut its full-year 2025 organic revenue growth guidance to 9.0%-11.0% from 11%-13%, while narrowing its Adjusted EBITDAC margin guidance and declaring a $0.12 quarterly dividend.
Total revenue rose 23.0% year-over-year to $855.2 million; organic revenue growth slowed to 7.1% from 14.2%.
Net income rose 5.6% to $124.7 million; diluted EPS was $0.38 versus $0.37, and adjusted diluted EPS rose 13.8% to $0.66.
Full-year 2025 organic revenue growth guidance was lowered to 9.0%-11.0% from 11%-13.0%; Adjusted EBITDAC margin guidance is now 32.5%-33.0%, from 32.5%-33.5%.
Board declared a $0.12 per share regular quarterly dividend, payable August 26, 2025, to holders of record on August 12, 2025.
Ryan Specialty reported first-quarter 2025 revenue up 25.0% to $690.2 million and Adjusted EBITDAC up 27.5% to $200.5 million, but GAAP net income swung to a loss of $4.4 million, mainly due to higher income tax expense tied to a legal entity reorganization that the company calls non-recurring and non-cash. The company maintained its full-year 2025 organic revenue growth and Adjusted EBITDAC margin guidance and declared a $0.12 per share quarterly dividend.
Total revenue rose 25.0% to $690.2 million from $552.0 million; Organic Revenue Growth Rate was 12.9% versus 13.7% a year earlier
Net loss of $(4.4) million, or $(0.22) per diluted share, compared with net income of $40.7 million a year earlier, due to $55.4 million of income tax expense
Adjusted diluted EPS rose 11.4% to $0.39 from $0.35; Adjusted EBITDAC margin was 29.1% versus 28.5%
Full-year 2025 guidance maintained: organic revenue growth of 11.0% to 13.0% and Adjusted EBITDAC margin of 32.5% to 33.5%; dividend of $0.12 payable May 27, 2025 to holders of record on May 13, 2025
Ryan Specialty Holdings said it will appoint Stephen P. Keogh, a former Aon plc executive, as Chief Operating Officer effective May 1, 2025. The filing sets his base salary at $600,000 and a target bonus of 150% of base salary, plus a proposed $2,000,000 performance stock unit grant subject to board approval and performance targets.
Stephen P. Keogh, age 58, becomes Chief Operating Officer effective May 1, 2025
Base salary of $600,000 per year, with a 2024 annual bonus target of 150% of base salary
Proposed initial performance stock unit grant with a grant date fair value of $2,000,000, vesting July 1, 2030, subject to board approval and performance targets
Keogh was Senior Advisor to the Office of the President at Aon plc until his retirement in September 2022
Ryan Specialty reported fourth-quarter 2024 revenue of $663.5 million, up 24.5% from a year earlier, while GAAP net income fell 27.3% to $42.6 million. The company also issued 2025 outlook for organic revenue growth of 11.0% to 13.0% and adjusted EBITDAC margin of 32.5% to 33.5%, and raised its quarterly dividend 9.1% to $0.12 per share.
Q4 2024 revenue rose 24.5% to $663.5 million; organic revenue growth was 11.0%.
GAAP net income fell 27.3% to $42.6 million; diluted EPS was $0.10 versus $0.18 a year earlier.
Adjusted diluted EPS rose 28.6% to $0.45, compared with $0.35 in the prior-year period.
Quarterly dividend raised 9.1% to $0.12 per share, payable March 18, 2025, to holders of record on March 4, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Ryan Specialty filing is on SEC EDGAR ↗. 8-K briefs of other companies →