Walter D. Bay - Mar 1, 2024 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Role: General Counsel
Signature: /s/ Ryan Session, by power of attorney
Stock symbol: AJG
Transactions as of: Mar 1, 2024
Transactions value $: $450,000
Form type: 4
Date filed: 3/5/2024, 06:45 PM
Previous filing: Sep 19, 2023
Next filing: Mar 18, 2024

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	+10.9K		$0.00	10.9K	Mar 1, 2024	Common Stock	10.9K	$243.54	Direct	F1
transaction	AJG	Phantom Stock	Discretionary transaction in accordance with Rule 16b-3(f) resulting in acquisition or disposition of issuer securities	$450K	+1.85K	+1.97%	$243.13	95.7K	Mar 4, 2024	Common Stock	1.85K		Direct	F2, F3

* 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 exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
F2	Each share of phantom stock represents a right to receive one share of Gallagher common stock.
F3	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:

Exhibit List: Ex-24 Power of Attorney.