Richard C. Cary - 18 Nov 2025 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Role
Controller, CAO
Signature
/s/ Monica Norzagaray, by power of attorney
Issuer symbol
AJG
Transactions as of
18 Nov 2025
Net transactions value
-$1,566,000
Form type
4
Filing time
20 Nov 2025, 18:50:36 UTC
Previous filing
22 Aug 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
CARY RICHARD C Controller, CAO 2850 GOLF ROAD, ROLLING MEADOWS /s/ Monica Norzagaray, by power of attorney 20 Nov 2025 0001185998

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AJG Common Stock Sale $1,566,000 -6,000 -11% $261.00 50,668 18 Nov 2025 Direct
holding AJG Common Stock 419 18 Nov 2025 Gallagher 401(k) plan account

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 628 18 Nov 2025 Common Stock 628 Direct F1, F2
holding AJG Non-qualified Stock Option 2,349 18 Nov 2025 Common Stock 2,349 $127.90 Direct F3
holding AJG Non-qualified Stock Option 2,265 18 Nov 2025 Common Stock 2,265 $158.56 Direct F3
holding AJG Non-qualified Stock Option 1,572 18 Nov 2025 Common Stock 1,572 $177.09 Direct F4
holding AJG Notional Stock Units 851 18 Nov 2025 Common Stock 851 Direct F5, F6
holding AJG Non-qualified Stock Option 1,219 18 Nov 2025 Common Stock 1,219 $86.17 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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 when they attain age 62, or after a one-year period for participants who have attained age 61.
F3 One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
F4 One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
F5 Each notional stock unit represents a right to receive one share of Gallagher common stock.
F6 The notional stock units become payable following the reporting person's separation from service with Gallagher.

Remarks:

Exhibit List: Ex-24: Power of Attorney.