Douglas K. Howell - Sep 19, 2025 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Signature
/s/ Monica Norzagaray, by power of attorney
Stock symbol
AJG
Transactions as of
Sep 19, 2025
Transactions value $
-$4,191,935
Form type
4
Date filed
9/23/2025, 09:26 PM
Previous filing
Sep 11, 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
HOWELL DOUGLAS K VP & Chief Financial Officer 2850 GOLF ROAD, ROLLING MEADOWS /s/ Monica Norzagaray, by power of attorney 2025-09-23 0001222374

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AJG Common Stock Sale -$777K -2.6K -2.27% $298.69 112K Sep 19, 2025 Direct F1
transaction AJG Common Stock Sale -$1.02M -3.4K -3.03% $299.71 109K Sep 19, 2025 Direct F2
transaction AJG Common Stock Sale -$1.77M -5.9K -5.42% $299.44 103K Sep 22, 2025 Direct F3
transaction AJG Common Stock Sale -$630K -2.1K -2.04% $299.84 101K Sep 22, 2025 Direct F4
holding AJG Common Stock 3.17K Sep 19, 2025 By Spouse F5
holding AJG Common Stock 419 Sep 19, 2025 Gallagher 401(k) plan account
holding AJG Common Stock (restricted) 450 Sep 19, 2025 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding AJG Phantom Stock 4.26K Sep 19, 2025 Common Stock 4.26K Direct F6, F7
holding AJG Notional Stock Units 178K Sep 19, 2025 Common Stock 178K $0.00 Direct F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported is an average weighted price. The shares were sold in multiple transactions on 9/19/2025 at prices ranging from $298.040 to $298.990. The reporting person will provide to the Securities and Exchange Commission staff, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes to this Form 4.
F2 The price reported is an average weighted price. The shares were sold in multiple transactions on 9/19/2025 at prices ranging from $299.100 to $299.950. The reporting person will provide to the Securities and Exchange Commission staff, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes to this Form 4.
F3 The price reported is an average weighted price. The shares were sold in multiple transactions on 9/22/2025 at prices ranging from $298.780 to $299.770. The reporting person will provide to the Securities and Exchange Commission staff, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes to this Form 4.
F4 The price reported is an average weighted price. The shares were sold in multiple transactions on 9/22/2025 at prices ranging from $299.790 to $299.940. The reporting person will provide to the Securities and Exchange Commission staff, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes to this Form 4.
F5 The reporting person has no voting or invesment power over these shares and disclaims beneficial ownership.
F6 Each share of phantom stock represents a right to receive one share of Gallagher common stock.
F7 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.
F8 Each notional stock unit represents a right to receive one share of Gallagher common stock.
F9 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.

Remarks:

This report discloses a sale of shares to cover tax obligations relating to the distribution of 35,739 deferred shares under the company's Supplemental Savings and Thrift Plan (reported on August 4, 2025). In lieu of withholding for taxes, the reporting person was required to receive the full distribution of shares and subsequently sell a portion of such shares to cover his tax obligation.