Arthur J. Gallagher & Co. — Director's Dealing 2010

Mar 16, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2010-03-15

Reporting Person: WIMMER JAMES R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-15	Common Stock	X	24000	$18.5	Acquired	31440	Direct
2010-03-15	Common Stock	S	1689	$25.2	Disposed	29751	Direct
2010-03-15	Common Stock	S	2400	$25.21	Disposed	27351	Direct
2010-03-15	Common Stock	S	1000	$25.22	Disposed	26351	Direct
2010-03-15	Common Stock	S	2200	$25.23	Disposed	24151	Direct
2010-03-15	Common Stock	S	100	$25.2305	Disposed	24051	Direct
2010-03-15	Common Stock	S	100	$25.24	Disposed	23951	Direct
2010-03-15	Common Stock	S	5571	$25.25	Disposed	18380	Direct
2010-03-15	Common Stock	S	100	$25.255	Disposed	18280	Direct
2010-03-15	Common Stock	S	1200	$25.27	Disposed	17080	Direct
2010-03-15	Common Stock	S	1100	$25.275	Disposed	15980	Direct
2010-03-15	Common Stock	S	100	$25.2775	Disposed	15880	Direct
2010-03-15	Common Stock	S	2100	$25.28	Disposed	13780	Direct
2010-03-15	Common Stock	S	200	$25.285	Disposed	13580	Direct
2010-03-15	Common Stock	S	1900	$25.29	Disposed	11680	Direct
2010-03-15	Common Stock	S	400	$25.3	Disposed	11280	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-15	Non-Qualified Stock Option (right to buy)	$18.5	X	24000	Disposed	2010-06-20	Common Stock (24000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3000	Indirect
Common Stock (restricted)	5722	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-Qualified Stock Option (right to buy)	$5.79	2013-05-20	Common Stock (1500)	1500	Direct
Non-Qualified Stock Option (right to buy)	$10.58	2014-05-17	Common Stock (1500)	1500	Direct
Non-Qualified Stock Option (right to buy)	$10.86	2012-05-13	Common Stock (1000)	1000	Direct
Non-Qualified Stock Option (right to buy)	$21.28	2016-05-12	Common Stock (9375)	9375	Direct
Non-Qualified Stock Option (right to buy)	$25.79	2013-05-20	Common Stock (25000)	25000	Direct
Non-Qualified Stock Option (right to buy)	$26.11	2011-05-21	Common Stock (25000)	25000	Direct
Non-Qualified Stock Option (right to buy)	$27.03	2016-05-15	Common Stock (7769)	7769	Direct
Non-Qualified Stock Option (right to buy)	$27.1	2015-05-16	Common Stock (30535)	30535	Direct
Non-Qualified Stock Option (right to buy)	$30.58	2014-05-17	Common Stock (25000)	25000	Direct
Non-Qualified Stock Option (right to buy)	$35.86	2012-05-13	Common Stock (25000)	25000	Direct

Footnotes

F1: The stock option becomes exercisable in three equal annual installments, commencing one year after the date of grant.

F2: The stock option becomes exercisable in four equal quarterly installments, commencing three months after the date of grant. Option expires upon death or retirement of director.

F3: The stock option becomes exerciseable one year after the grant date.