Richard C. Cary - Aug 9, 2022 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Role: Controller, CAO
Signature: /s/ Seth Diehl, by power of attorney
Stock symbol: AJG
Transactions as of: Aug 9, 2022
Transactions value $: -$387,493
Form type: 4
Date filed: 8/11/2022, 05:38 PM
Previous filing: Mar 16, 2022
Next filing: Mar 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AJG	Common Stock	Options Exercise	$79.5K	+1.4K	+3.85%	$56.86	37.7K	Aug 9, 2022	Direct
transaction	AJG	Common Stock	Options Exercise	$69.5K	+983	+2.61%	$70.74	38.7K	Aug 9, 2022	Direct
transaction	AJG	Common Stock	Options Exercise	$79.7K	+1K	+2.59%	$79.59	39.7K	Aug 9, 2022	Direct
transaction	AJG	Common Stock	Sale	-$616K	-3.38K	-8.52%	$182.16	36.3K	Aug 9, 2022	Direct	F1
holding	AJG	Common Stock						215	Aug 9, 2022	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
transaction	AJG	Non-qualified Stock Option	Options Exercise	$0	-1.4K	-100%	$0.00^*	0	Aug 9, 2022	Common Stock	1.4K	$56.86	Direct	F2
transaction	AJG	Non-qualified Stock Option	Options Exercise	$0	-983	-50%	$0.00	983	Aug 9, 2022	Common Stock	983	$70.74	Direct	F2
transaction	AJG	Non-qualified Stock Option	Options Exercise	$0	-1K	-33.37%	$0.00	2K	Aug 9, 2022	Common Stock	1K	$79.59	Direct	F2

* 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 at prices ranging from $182.04 to $182.25. 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 range set forth in this footnote.
F2	One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

Content

The price reported is an average weighted price. The shares were sold in multiple transactions at prices ranging from $182.04 to $182.25. 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 range set forth in this footnote.

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