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

Dec 12, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: GAULT JAMES S (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-12	Common Stock	M	142592	—	Acquired	165212	Direct
2014-12-12	Common Stock	F	65687	$48.56	Disposed	99525	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-12-12	Phantom Stock	$	M	142592	Disposed		Common Stock (142592)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	56000	Indirect

Footnotes

F1: The reporting person disclaims beneficial ownership of these securities pursuant to Rule 16a-1(a)(4). This report shall not be deemed an admission that the reporting person is, for purposes of Section 16 or otherwise, the beneficial owner of such securities.

F2: Each share of phantom stock represents a right to receive one share of Gallagher common stock.

F3: These shares represent awards under the Age 62 Plan, a nonqualified deferred compensation plan of the Company, which have been deemed invested in Company common stock at the election of the reporting person. Participants vest in these awards when they attain age 62, or after a one-year period for participants who have attained age 61.