Arthur J. Gallagher (NYSE: AJG) counsel gains shares from vested awards
Rhea-AI Filing Summary
Arthur J. Gallagher & Co.’s General Counsel Walter D. Bay reported equity compensation activity. On March 15, 2026, 7,090 performance-based restricted shares of common stock were awarded and vested, then converted into common stock. Of these, 2,411 shares were surrendered at $207.93 per share to cover tax obligations, a non-market disposition. Following these transactions, Bay directly holds 75,414 shares of common stock and also has 491.129 shares indirectly through a Gallagher 401(k) plan account. He retains several non-qualified stock options and stock-based units with exercise prices ranging from $86.17 to $337.74 and expirations between 2027 and 2033, providing additional potential future equity exposure.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 18,859 shares
Net Buy
14 txns
Insider
Bay Walter D.
Role
General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock (restricted) | 7,090 | $0.00 | $0.00 |
| Exercise | Common Stock (restricted) | 7,090 | $0.00 | $0.00 |
| Exercise | Common Stock | 7,090 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 2,411 | $207.93 | $501K |
| holding | Non-qualified Stock Option | -- | -- | -- |
| holding | Non-qualified Stock Option | -- | -- | -- |
| holding | Non-qualified Stock Option | -- | -- | -- |
| holding | Non-qualified Stock Option | -- | -- | -- |
| holding | Non-qualified Stock Option | -- | -- | -- |
| holding | Non-qualified Stock Option | -- | -- | -- |
| holding | Non-qualified Stock Option | -- | -- | -- |
| holding | Notional Stock Units | -- | -- | -- |
| holding | Phantom Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock (restricted) — 0 shares (Direct);
Common Stock — 75,414 shares (Direct);
Non-qualified Stock Option — 102,173 shares (Direct);
Notional Stock Units — 5,828.5456 shares (Direct);
Phantom Stock — 5,399.1 shares (Direct);
Common Stock — 491.129 shares (Indirect, Gallagher 401(k) plan account)
Footnotes (10)
- F1. Performance share units (awarded on March 15, 2023) earned and vested as of March 15, 2026.
- F2. One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- F3. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- F4. Closing price of Gallagher common stock on February 28, 2025.
- F5. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- F6. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- F7. Each notional stock unit represents a right to receive one share of Gallagher common stock.
- F8. The notional stock units become payable following the reporting person's separation from service with Gallagher.
- F9. Each share of phantom stock represents a right to receive one share of Gallagher common stock.
- 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.
FAQ
What did Arthur J. Gallagher (AJG) General Counsel report in this Form 4?
General Counsel Walter D. Bay reported equity compensation activity, including 7,090 performance-based restricted shares that vested into common stock. The filing also shows tax-related share withholding and updated direct and indirect share ownership positions after these compensation events.
What equity awards vested for Arthur J. Gallagher (AJG) General Counsel in this report?
Performance share units awarded on March 15, 2023 earned out and vested as of March 15, 2026, totaling 7,090 restricted shares. These vested awards were then converted into common stock, updating Walter D. Bay’s direct ownership stake in AJG.
Does Walter D. Bay still hold Arthur J. Gallagher (AJG) stock options after these transactions?
Yes. The derivative holdings section lists multiple non-qualified stock options on AJG common stock with exercise prices from $86.17 to $337.74 and expirations between 2027 and 2033, indicating substantial remaining potential equity exposure through options.
What indirect Arthur J. Gallagher (AJG) holdings does the Form 4 show for Walter D. Bay?
The filing reports 491.129 shares of AJG common stock held indirectly through a Gallagher 401(k) plan account. This position is in addition to Bay’s directly held common shares and various option, notional stock unit, and phantom stock-based awards.
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