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

Feb 15, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2013-02-13

Reporting Person: HOWELL DOUGLAS K (VP & Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-02-13	Common Stock	M	5000	$24.58	Acquired	41633.853	Direct
2013-02-13	Common Stock	S	5000	$38.39	Disposed	36633.853	Direct
2013-02-14	Common Stock	M	5680	$24.58	Acquired	42313.853	Direct
2013-02-14	Common Stock	S	5680	$38.84	Disposed	36633.853	Direct
2013-02-15	Common Stock	M	3000	$24.58	Acquired	39633.853	Direct
2013-02-15	Common Stock	S	3000	$38.85	Disposed	36633.853	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-02-13	Incentive Stock Option (Right to Buy)	$24.58	M	5000	Disposed	2013-03-02	Common Stock (5000)	Direct
2013-02-14	Incentive Stock Option (Right to Buy)	$24.58	M	5680	Disposed	2013-03-02	Common Stock (5680)	Direct
2013-02-15	Incentive Stock Option (Right to Buy)	$24.58	M	3000	Disposed	2013-03-02	Common Stock (3000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	302	Indirect
Common Stock	26988	Indirect
Common Stock (restricted)	49457	Direct

Footnotes

F1: The price reported is an average weighted price. The shares were sold in multiple transactions at prices ranging from $38.75 to $38.91. The reporting person will provide to the Securities and Exchange Commission staff, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F2: The reporting person has no voting or invesment power over these shares and disclaims beneficial ownership.

F3: The stock option becomes exercisable 10% each year, commencing January 1 after the date of grant.