Douglas K. Howell - Jul 15, 2022 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Role: VP & Chief Financial Officer
Signature: /s/ Seth Diehl, by power of attorney
Stock symbol: AJG
Transactions as of: Jul 15, 2022
Transactions value $: $0
Form type: 4
Date filed: 7/19/2022, 07:48 PM
Previous filing: Mar 16, 2022
Next filing: Aug 18, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AJG	Common Stock	Options Exercise	$0	+24.3K	+34.86%	$0.00	94.1K	Jul 15, 2022	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
transaction	AJG	Notional Stock Units	Options Exercise	$0	-24.3K	-11.12%	$0.00	194K	Jul 15, 2022	Common Stock	24.3K	$0.00	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each notional stock unit represents a right to receive one share of Gallagher common stock.
F2	Portions of these notional stock units are payable to the reporting person in shares of common stock in July of 2022, 2023, 2025 and 2026 and following the reporting person's separation from service.

Remarks:

This report discloses the distribution of notional stock units (representing equity compensation previously deferred by the reporting person in the Arthur J. Gallagher & Co. Supplemental Savings and Thrift Plan) in the form of Gallagher common stock. The timing of this distribution in July 2022 is in accordance with the terms of the Supplemental Savings and Thrift Plan and the reporting person's election at the time of deferral.