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

Feb 12, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Arthur J. Gallagher & Co. (AJG)
CIK: 0000354190
Period of Report: 2026-02-10

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-02-10	Notional Stock Units	$0	I	12892.211	Acquired		Common Stock (12892.211)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	96030.7558	Direct
Common Stock	3165	Indirect
Common Stock	418.691	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Notional Stock Units	$0		Common Stock (208342.081)	208342.081	Direct
Non-qualified Stock Option	$127.90	2028-03-16	Common Stock (31265)	31265	Direct
Non-qualified Stock Option	$86.17	2027-03-12	Common Stock (17130)	17130	Direct
Non-qualified Stock Option	$158.56	2029-03-15	Common Stock (14545)	14545	Direct
Non-qualified Stock Option	$79.59	2026-03-14	Common Stock (14100)	14100	Direct
Non-qualified Stock Option	$337.74	2032-03-01	Common Stock (13884)	13884	Direct
Non-qualified Stock Option	$243.54	2031-03-01	Common Stock (12726)	12726	Direct
Non-qualified Stock Option	$177.09	2030-03-15	Common Stock (12107)	12107	Direct
Phantom Stock	$		Common Stock (4285.923)	4285.923	Direct

Footnotes

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

F2: Each notional stock unit represents a right to receive one share of Gallagher common stock.

F3: Portions of these notional stock units are payable to the reporting person in shares of common stock in July of 2026, 2028 and 2029 and following the reporting person's separation from service.

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.

F6: Closing price of Gallagher common stock on February 28, 2025.

F7: One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

F8: One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

F9: Each share of phantom stock represents a right to receive one share of Gallagher common stock.

F10: 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.