Walter D. Bay - 15 Mar 2026 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Role
General Counsel
Signature
/s/ Monica Norzagaray, by power of attorney
Issuer symbol
AJG
Transactions as of
15 Mar 2026
Net transactions value
$0
Form type
4
Filing time
17 Mar 2026, 21:16:37 UTC
Previous filing
06 Mar 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Bay Walter D. General Counsel 2850 GOLF ROAD, ROLLING MEADOWS /s/ Monica Norzagaray, by power of attorney 17 Mar 2026 0001410235

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AJG Common Stock (restricted) Award +7,090 $0.000000* 7,090 15 Mar 2026 Direct F1
transaction AJG Common Stock (restricted) Options Exercise -7,090 -100% $0.000000* 0 15 Mar 2026 Direct
transaction AJG Common Stock Options Exercise +7,090 +9.4% $0.000000* 82,504 15 Mar 2026 Direct
transaction AJG Common Stock Tax liability -2,411 -3.1% $207.93* 75,414 15 Mar 2026 Direct
holding AJG Common Stock 491 15 Mar 2026 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 Non-qualified Stock Option 24,500 15 Mar 2026 Common Stock 24,500 $127.90 Direct F2
holding AJG Non-qualified Stock Option 17,630 15 Mar 2026 Common Stock 17,630 $86.17 Direct F2
holding AJG Non-qualified Stock Option 16,952 15 Mar 2026 Common Stock 16,952 $228.20 Direct F3
holding AJG Non-qualified Stock Option 11,405 15 Mar 2026 Common Stock 11,405 $158.56 Direct F2
holding AJG Non-qualified Stock Option 11,350 15 Mar 2026 Common Stock 11,350 $337.74 Direct F2, F4
holding AJG Non-qualified Stock Option 10,884 15 Mar 2026 Common Stock 10,884 $243.54 Direct F5
holding AJG Non-qualified Stock Option 9,452 15 Mar 2026 Common Stock 9,452 $177.09 Direct F6
holding AJG Notional Stock Units 5,829 15 Mar 2026 Common Stock 5,829 $0.000000 Direct F7, F8
holding AJG Phantom Stock 5,399 15 Mar 2026 Common Stock 5,399 Direct F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Performance share units (awarded on March 15, 2023) earned and vested as of March 15, 2026.
F2 One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
F3 One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
F4 Closing price of Gallagher common stock on February 28, 2025.
F5 One-third of this stock option becomes exercisable 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 Each notional stock unit represents a right to receive one share of Gallagher common stock.
F8 The notional stock units become payable following the reporting person's separation from service with Gallagher.
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 in the year they attain age 62, or after a one-year period for participants who have attained age 61.