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

Mar 14, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2014-03-12

Reporting Person: CARY RICHARD C (Controller, CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-12	Common Stock	M	150	$33.28	Acquired	28710	Direct
2014-03-12	Common Stock	M	1000	$29.42	Acquired	29710	Direct
2014-03-12	Common Stock	M	1000	$27.25	Acquired	30710	Direct
2014-03-12	Common Stock	S	2150	$46.85	Disposed	28560	Direct
2014-03-12	Common Stock (restricted)	A	950	—	Acquired	4500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-12	Non-qualified Stock Option	$33.28	M	150	Disposed	2014-03-31	Common Stock (150)	Direct
2014-03-12	Non-qualified Stock Option	$29.42	M	1000	Disposed	2014-07-21	Common Stock (1000)	Direct
2014-03-12	Non-qualified Stock Option	$27.25	M	1000	Disposed	2015-07-20	Common Stock (1000)	Direct
2014-03-12	Non-qualified Stock Option	$46.87	A	6400	Acquired	2021-03-12	Common Stock (6400)	Direct

Footnotes

F1: The price reported is an average weighted price. The shares were sold in multiple transactions at prices ranging from $46.84 to $46.87. 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: Restricted stock unit award vesting four years after the date of grant.

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

F4: One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.