Arthur J. Gallagher & Co. — Director's Dealing 2025

Apr 2, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Arthur J. Gallagher & Co. (AJG)
CIK: 0000354190
Period of Report: 2025-03-31

Reporting Person: Bay Walter D. (General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-31	Common Stock	M	78.755	—	Acquired	79549	Direct
2025-03-31	Common Stock	F	78.755	$345.24	Disposed	79470.245	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-03-31	Phantom Stock	$	M	78.755	Disposed		Common Stock (78.755)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	418.689	Indirect

Footnotes

F1: Each share of phantom stock represents a right to receive one share of Gallagher common stock.

F2: 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 in the year they attain age 62, or after a one-year period for participants who have attained age 61.