Arthur J. Gallagher & Co. — Director's Dealing 2015

Feb 23, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2015-02-19

Reporting Person: GAULT JAMES S (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-19	Common Stock	M	35000	$27.25	Acquired	134525	Direct
2015-02-19	Common Stock	S	25109	$48.42	Disposed	109416	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-19	Non-qualified Stock Option	$27.25	M	35000	Disposed	2015-07-20	Common Stock (35000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	48708	Indirect

Footnotes

F1: The price reported is an average weighted price. The shares were sold in multiple transactions at prices ranging from $48.41 to $48.48. 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: 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.

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