Walter D. Bay - 15 Mar 2026 Form 4 Insider Report for Arthur J. Gallagher & Co. (AJG)

Reporting relationship
General Counsel
Issuer ticker
AJG
Reported as of
15 Mar 2026
Net transaction value
$0
Source evidence Original filing metadata and source links for verification. 5 source fields
SEC form
4
Accepted by SEC
17 Mar 2026, 21:16:37 UTC
Prior SEC filing
06 Mar 2026
Next SEC filing
01 Apr 2026
Source filing
View source filing
Reporting owner 1 detail
Reporting owner signature
/s/ Monica Norzagaray, by power of attorney

Key filing fact

Walter D. Bay filed Form 4 for Arthur J. Gallagher & Co. (AJG) on 17 Mar 2026.

Key facts

  • This page summarizes Walter D. Bay's Form 4 filing for Arthur J. Gallagher & Co. (AJG).
  • 4 reported transactions and 9 derivative rows are listed below.
  • Accepted by SEC: 17 Mar 2026, 21:16.

Change

  • Previous filing in this sequence was filed on 06 Mar 2026.
  • Current net transaction value: $0.

Research use

  • This tells you what this filing adds before you inspect full transaction and derivative tables.
  • You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001410235 Primary reporting owner

Bay Walter D.

Relationship
General Counsel
Address
2850 GOLF ROAD, ROLLING MEADOWS
Signature
/s/ Monica Norzagaray, by power of attorney
Signature date
17 Mar 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

AJG transaction

Common Stock (restricted)

Award

Transaction value
Shares
+7,090
Change %
Price
$0.000000*
Shares after
7,090
Date
15 Mar 2026
Ownership
Direct
Footnotes
F1
AJG transaction

Common Stock (restricted)

Options Exercise

Transaction value
Shares
-7,090
Change %
-100%
Price
$0.000000*
Shares after
0
Date
15 Mar 2026
Ownership
Direct
AJG transaction

Common Stock

Options Exercise

Transaction value
Shares
+7,090
Change %
+9.4%
Price
$0.000000*
Shares after
82,504
Date
15 Mar 2026
Ownership
Direct
AJG transaction

Common Stock

Tax liability

Transaction value
Shares
-2,411
Change %
-3.1%
Price
$207.93*
Shares after
75,414
Date
15 Mar 2026
Ownership
Direct
AJG holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
491
Date
15 Mar 2026
Ownership
Gallagher 401(k) plan account

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

AJG holding Derivative

Non-qualified Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
24,500
Date
15 Mar 2026
Ownership
Direct
Underlying class
Common Stock
Underlying amount
24,500
Exercise price
$127.90
Footnotes
F2
AJG holding Derivative

Non-qualified Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
17,630
Date
15 Mar 2026
Ownership
Direct
Underlying class
Common Stock
Underlying amount
17,630
Exercise price
$86.17
Footnotes
F2
AJG holding Derivative

Non-qualified Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
16,952
Date
15 Mar 2026
Ownership
Direct
Underlying class
Common Stock
Underlying amount
16,952
Exercise price
$228.20
Footnotes
F3
AJG holding Derivative

Non-qualified Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
11,405
Date
15 Mar 2026
Ownership
Direct
Underlying class
Common Stock
Underlying amount
11,405
Exercise price
$158.56
Footnotes
F2
AJG holding Derivative

Non-qualified Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
11,350
Date
15 Mar 2026
Ownership
Direct
Underlying class
Common Stock
Underlying amount
11,350
Exercise price
$337.74
Footnotes
F2, F4
AJG holding Derivative

Non-qualified Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
10,884
Date
15 Mar 2026
Ownership
Direct
Underlying class
Common Stock
Underlying amount
10,884
Exercise price
$243.54
Footnotes
F5
AJG holding Derivative

Non-qualified Stock Option

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
9,452
Date
15 Mar 2026
Ownership
Direct
Underlying class
Common Stock
Underlying amount
9,452
Exercise price
$177.09
Footnotes
F6
AJG holding Derivative

Notional Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
5,829
Date
15 Mar 2026
Ownership
Direct
Underlying class
Common Stock
Underlying amount
5,829
Exercise price
$0.000000
Footnotes
F7, F8
AJG holding Derivative

Phantom Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after
5,399
Date
15 Mar 2026
Ownership
Direct
Underlying class
Common Stock
Underlying amount
5,399
Exercise price
Footnotes
F9, F10
* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 10 footnotes

Footnote F1

Performance share units (awarded on March 15, 2023) earned and vested as of March 15, 2026.

Footnote F2

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

Footnote F3

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

Footnote F4

Closing price of Gallagher common stock on February 28, 2025.

Footnote F5

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

Footnote F6

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

Footnote F7

Each notional stock unit represents a right to receive one share of Gallagher common stock.

Footnote F8

The notional stock units become payable following the reporting person's separation from service with Gallagher.

Footnote F9

Each share of phantom stock represents a right to receive one share of Gallagher common stock.

Footnote F10

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 in the year they attain age 62, or after a one-year period for participants who have attained age 61.

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