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

Mar 3, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Arthur J. Gallagher & Co. (AJG)
CIK: 0000354190
Period of Report: 2026-02-26

Reporting Person: GALLAGHER THOMAS JOSEPH (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-26	Common Stock	M	28200	$75.59	Acquired	318691.08	Direct
2026-02-26	Common Stock	F	17555	$221.695	Disposed	290491.08	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-02-26	Non-qualified Stock Option	$79.59	M	28200	Disposed	2026-03-14	Common Stock (28200)	Direct
2026-03-01	Non-qualified Stock Option	$228.20	A	22219	Acquired	2033-03-01	Common Stock (22219)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	119175	Indirect
Common Stock	96709	Indirect
Common Stock	62295	Indirect
Common Stock	32428	Indirect
Common Stock	418.7	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Non-qualified Stock Option	$127.90	2028-03-16	Common Stock (32895)	32895	Direct
Non-qualified Stock Option	$86.17	2027-03-12	Common Stock (31340)	31340	Direct
Non-qualified Stock Option	$158.56	2029-03-15	Common Stock (15310)	15310	Direct
Non-qualified Stock Option	$243.54	2031-03-01	Common Stock (15070)	15070	Direct
Non-qualified Stock Option	$337.74	2032-03-01	Common Stock (14876)	14876	Direct
Non-qualified Stock Option	$177.09	2030-03-15	Common Stock (12744)	12744	Direct
Notional Stock Units	$0		Common Stock (11110.1805)	11110.1805	Direct

Footnotes

F1: Represents the number of shares withheld by the Company as a result of the net exercise of stock options and used to pay the exercise price and required tax withholdings.

F2: The reporting person disclaims beneficial ownership of these shares, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 or for any other purpose.

F3: These shares are held in trusts, for the benefit of the reporting person's children, of which his wife is a trustee.

F4: One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

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

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

F10: Portions of these notional stock units are payable to the reporting person in shares of common stock in July of 2025 and 2026 and following the reporting person's separation from service.