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

Feb 17, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GALLAGHER ARTHUR J & CO (AJG)
CIK: 0000354190
Period of Report: 2015-02-12

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-12	Common Stock	S	6000	$47.20	Disposed	29062.934	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-13	Notional Stock Units	$0	I	226	Acquired		Common Stock (226)	Direct
2015-02-13	Notional Stock Units	$0	I	672	Acquired		Common Stock (672)	Direct
2015-02-13	Notional Stock Units	$0	I	2140	Acquired		Common Stock (2140)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	313	Indirect

Footnotes

F1: The price reported is an average weighted price. The shares were sold in multiple transactions at prices ranging from $47.15 to $47.25. 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 has no voting or invesment power over these shares and disclaims beneficial ownership.

F3: Each notional stock unit represents a right to receive one share of Gallagher common stock.

F4: The notional stock units become payable in July 2015.

F5: The notional stock units become payable in July 2018.

F6: The notional stock units become payable following the reporting person's separation from service with Gallagher.