Arthur J. Gallagher & Co. — Director's Dealing 2021

Feb 10, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Arthur J. Gallagher & Co. (AJG)
CIK: 0000354190
Period of Report: 2021-02-08

Reporting Person: Hudson Scott R (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-09	Common Stock	M	6234	$46.87	Acquired	41421	Direct
2021-02-09	Common Stock	S	6234	$117.06	Disposed	35187	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-08	Notional Stock Units	$	A	696.8	Acquired		Common Stock (696.8)	Direct
2021-02-09	Non-qualified Stock Option	$46.87	M	6234	Disposed	2021-03-12	Common Stock (6234)	Direct

Footnotes

F1: The price reported is an average weighted price. The shares were sold in multiple transactions at prices ranging from $117.03 to $117.11. 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: Each notional stock unit represents a right to receive one share of Gallagher common stock.

F3: Company match under the Supplemental Savings and Thrift Plan.

F4: The notional stock units become payable following the reporting person's separation from service with Gallagher.

F5: One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.