Arthur J. Gallagher & Co. — Director's Dealing 2023

Mar 14, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Arthur J. Gallagher & Co. (AJG)
CIK: 0000354190
Period of Report: 2023-03-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-12	Common Stock (restricted)	A	17120	—	Acquired	26045	Direct
2023-03-12	Common Stock (restricted)	M	8560	—	Disposed	17485	Direct
2023-03-12	Common Stock (restricted)	M	8560	$182.76	Disposed	8925	Direct
2023-03-12	Common Stock	M	8560	—	Acquired	96683.062	Direct
2023-03-12	Common Stock	F	3118	$182.78	Disposed	93565.062	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-10	Phantom Stock	$	I	4840	Acquired		Common Stock (4840)	Direct
2023-03-12	Notional Stock Units	$0	M	8560	Acquired		Common Stock (8560)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3165	Indirect
Common Stock	214.63	Indirect

Footnotes

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

F2: Performance share units (awarded on March 12, 2020) earned and vested as of March 12, 2023.

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

F4: 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.

F5: Each notional stock unit represents a right to receive one share of Gallagher common stock.

F6: Portions of these notional stock units are payable to the reporting person in shares of common stock in July of 2023, 2025, 2026 and 2027 and following the reporting person's separation from service.