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

Role
Vice President
Signature
/s/ Ryan Session, by power of attorney
Stock symbol
AJG
Transactions as of
Feb 26, 2024
Transactions value $
-$2,931,491
Form type
4
Date filed
2/28/2024, 04:12 PM
Previous filing
Nov 2, 2023
Next filing
Mar 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AJG Common Stock Options Exercise $0 +30.1K +21.99% $0.00 167K Feb 26, 2024 Direct
transaction AJG Common Stock Tax liability -$2.93M -12K -7.2% $244.04 155K Feb 26, 2024 Direct
holding AJG Common Stock 2.02K Feb 26, 2024 By Spouse
holding AJG Common Stock 368 Feb 26, 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 -30.1K -23.94% $0.00 95.5K Feb 26, 2024 Common Stock 30.1K 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.