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
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership
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

Showing 1 to 4 of 4 entries

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.