Arthur J. Gallagher & Co. — Director's Dealing 2014

Jul 8, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2014-07-07

Reporting Person: GALLAGHER J PATRICK JR (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-07-07	Common Stock	M	50000	$29.42	Acquired	130391.973	Direct
2014-07-07	Common Stock	F	40250	$46.52	Disposed	90141.973	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-07-07	Non-qualified Stock Option	$29.42	M	50000	Disposed	2014-07-21	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	150000	Indirect
Common Stock	427	Indirect
Common Stock	98779	Indirect
Common Stock	190972	Indirect

Footnotes

F1: Shares held in revocable trust of which my spouse is sole Trustee and as to which I disclaim beneficial ownership.

F2: Held in trust for benefit of children.

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