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

Jul 22, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2014-07-18

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-07-18	Common Stock	M	35000	$29.42	Acquired	58553.336	Direct
2014-07-18	Common Stock	F	28206	$46.41	Disposed	30347.336	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-07-18	Non-qualified Stock Option	$29.42	M	35000	Disposed	2014-07-21	Common Stock (35000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	313	Indirect

Footnotes

F1: The reporting person has no voting or invesment power over these shares and disclaims beneficial ownership.

F2: The stock option becomes exercisable 10% each year, commencing January 1 after the date of grant.