Walter D. Bay - 15 Mar 2023 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Role: General Counsel
Signature: /s/ Seth Diehl, by power of attorney
Issuer symbol: AJG
Transactions as of: 15 Mar 2023
Net transactions value: -$313,981
Form type: 4
Filing time: 17 Mar 2023, 19:41:43 UTC
Previous filing: 14 Mar 2023
Next filing: 19 Sep 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AJG	Common Stock (restricted)	Options Exercise	$0	-4,000	-41%	$0.000000	5,750	15 Mar 2023	Direct
transaction	AJG	Common Stock	Options Exercise	$0	+4,000	+9.4%	$0.000000	46,464	15 Mar 2023	Direct
transaction	AJG	Common Stock	Tax liability	$313,981	-1,773	-3.8%	$177.09	44,691	15 Mar 2023	Direct
holding	AJG	Common Stock						215	15 Mar 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	Non-qualified Stock Option	Award	$0	+9,452		$0.000000	9,452	15 Mar 2023	Common Stock	9,452	$177.09	Direct	F1

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

Explanation of Responses:

Id	Content
F1	One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.