Arthur J. Gallagher & Co. — Director's Dealing 2013

Feb 14, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2013-02-12

Reporting Person: Bay Walter D. (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-02-12	Common Stock	M	7500	$26.09	Acquired	8871	Direct
2013-02-12	Common Stock	S	7500	$37.90	Disposed	1371	Direct
2013-02-13	Common Stock	M	13000	$29.25	Acquired	14371	Direct
2013-02-13	Common Stock	S	13000	$38.25	Disposed	1371	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-02-12	Non-qualified Stock Option	$26.09	M	7500	Disposed	2018-05-13	Common Stock (7500)	Direct
2013-02-13	Non-qualified Stock Option	$29.25	M	13000	Disposed	2017-08-16	Common Stock (13000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock (restricted)	29953	Direct

Footnotes

F1: The stock option becomes exercisable 10% each year, commencing January 1 after the date of grant.

F2: The stock option becomes exercisable 20% each year on the anniversary of the grant date.