Arthur J. Gallagher & Co. — Director's Dealing 2022

May 20, 2022

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Arthur J. Gallagher & Co. (AJG)
CIK: 0000354190
Period of Report: 2022-05-10

Reporting Person: Gallagher Patrick Murphy (Vice President)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	21602	Direct
Common Stock (restricted)	6580	Direct
Common Stock	80891	Indirect
Common Stock	54928	Indirect
Common Stock	18168	Indirect
Common Stock	8152	Indirect
Common Stock	7618	Indirect
Common Stock	182	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock	$		Common Stock (10935)		Direct
Phantom Stock	$		Common Stock (3659)		Direct
Non-qualified Stock Option	$43.71	2023-03-17	Common Stock (9900)		Direct
Non-qualified Stock Option	$56.86	2024-03-16	Common Stock (7400)		Direct
Non-qualified Stock Option	$70.74	2025-03-15	Common Stock (5250)		Direct
Non-qualified Stock Option	$79.59	2026-03-14	Common Stock (5000)		Direct
Non-qualified Stock Option	$86.17	2027-03-12	Common Stock (6270)		Direct
Non-qualified Stock Option	$127.90	2028-03-16	Common Stock (7255)		Direct
Non-qualified Stock Option	$158.56	2029-03-15	Common Stock (5510)		Direct

Footnotes

F1: Shares held in trust for the benefit of the reporting person's children, of which he is a trustee.

F2: Shares held in trust for the benefit of the reporting person's children, of which he is a trustee.

F3: Shares held in trusts, for the benefit of the reporting person's children, of which his wife is sole trustee.

F4: Shares held in revocable trust of which the reporting person's spouse is sole Trustee and as to which he disclaims beneficial ownership.

F5: 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.

F6: Each share of phantom stock represents a right to receive one share of Gallagher common stock.

F7: These shares represent awards under the Deferred Cash Participation Plan, a nonqualified deferred compensation plan of the Company, which have been deemed invested in Company common stock at the election of the participant. These awards are payable in a lump sum on the six-month anniversary of the reporting person's separation from service.

F8: Grant date of 3/17/2016.

F9: One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

F10: Grant date of 3/16/2017.

F11: Grant date of 3/15/2018.

F12: Grant date of 3/14/2019.

F13: Grant date of 3/12/2020.

F14: Grant date of 3/16/2021.

F15: Grant date of 3/15/2022.