Arthur J. Gallagher & Co. — Director's Dealing 2026

Jan 5, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Arthur J. Gallagher & Co. (AJG)
CIK: 0000354190
Period of Report: 2026-01-01

Reporting Person: Jain Vishal (VICE PRESIDENT)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-01-01	Common Stock	M	954.69	—	Acquired	58677.69	Direct
2026-01-01	Common Stock	F	259	$258.79	Disposed	58418.69	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-01-01	Phantom Stock	$	M	954.69	Disposed		Common Stock (954.69)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	418.673	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-qualified Stock Option	$79.59	2026-03-14	Common Stock (8450)	8450	Direct
Non-qualified Stock Option	$86.17	2027-03-12	Common Stock (10450)	10450	Direct
Non-qualified Stock Option	$127.90	2028-03-16	Common Stock (13580)	13580	Direct
Non-qualified Stock Option	$158.56	2029-03-15	Common Stock (9950)	9950	Direct
Non-qualified Stock Option	$177.09	2030-03-15	Common Stock (8284)	8284	Direct
Non-qualified Stock Option	$243.54	2031-03-01	Common Stock (8707)	8707	Direct
Non-qualified Stock Option	$337.74	2032-03-01	Common Stock (9587)	9587	Direct
Notional Stock Units	$0		Common Stock (4898.537)	4898.537	Direct

Footnotes

F1: In the past, Common Stock and Common Stock (Restricted) were reported as two separate line items. In the future, they will be reported as a combined total as is stated on this Form.

F2: Grant date of 3/14/2019.

F3: One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

F4: Grant date of 3/12/2020.

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

F6: One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

F7: Closing price of Gallagher common stock on February 28, 2025.

F8: Each notional stock unit represents a right to receive one share of Gallagher common stock.

F9: The notional stock units become payable following the reporting person's separation from service with Gallagher.

F10: Each share of phantom stock represents a right to receive one share of Gallagher common stock.

F11: 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.