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

Mar 15, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2013-03-13

Reporting Person: Bay Walter D. (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-03-13	Common Stock (restricted)	A	4550	—	Acquired	23440	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-03-13	Non-qualified Stock Option	$39.17	A	13800	Acquired	2020-03-13	Common Stock (13800)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1371	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Notional Stock Units	$0		Common Stock (11063)	11063	Direct
Notional Stock Units	$0		Common Stock (7399)	7399	Direct

Footnotes

F1: Restricted stock unit award vesting four years after the date of grant.

F2: One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

F3: Each notional stock unit represents a right to receive one share of Gallagher common stock.

F4: The notional stock units become payable on July 1, 2014.

F5: The notional stock units become payable following the reporting person's separation from service with Gallagher.