Joel D. Cavaness - 26 Feb 2024 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Role
Vice President
Signature
/s/ Ryan Session, by power of attorney
Issuer symbol
AJG
Transactions as of
26 Feb 2024
Net transactions value
-$2,931,491
Form type
4
Filing time
28 Feb 2024, 16:12:28 UTC
Previous filing
02 Nov 2023
Next filing
18 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AJG Common Stock Options Exercise $0 +30,067 +22% $0.000000 166,820 26 Feb 2024 Direct
transaction AJG Common Stock Tax liability $2,931,491 -12,012 -7.2% $244.04 154,808 26 Feb 2024 Direct
holding AJG Common Stock 2,023 26 Feb 2024 By Spouse
holding AJG Common Stock 368 26 Feb 2024 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 -30,067 -24% $0.000000 95,524 26 Feb 2024 Common Stock 30,067 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 an annual distribution of the reporting person's balance in the Age 62 Plan, which he elected to receive pro rata over a five-year period following vesting in 2023.