Joel D. Cavaness - Mar 8, 2023 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Role
Vice President
Signature
/s/ Seth Diehl, by power of attorney
Stock symbol
AJG
Transactions as of
Mar 8, 2023
Transactions value $
-$2,246,627
Form type
4
Date filed
3/10/2023, 04:16 PM
Previous filing
Mar 7, 2023
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 $0 +30.2K +24.95% $0.00 151K Mar 8, 2023 Direct
transaction AJG Common Stock Tax liability -$2.25M -11.9K -7.86% $188.98 139K Mar 8, 2023 Direct
holding AJG Common Stock 2.02K Mar 8, 2023 By Spouse
holding AJG Common Stock 215 Mar 8, 2023 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 Phantom Stock Options Exercise $0 -30.2K -19.97% $0.00 121K Mar 8, 2023 Common Stock 30.2K Direct F1, F2
* 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.

Remarks:

This transaction represents a distribution upon vesting of the reporting person's balance in the Age 62 Plan, which he elected to receive pro rata over a five-year period.