Arthur J. Gallagher (AJG) VP receives 2,202 phantom stock units under Age 62 plan

Rhea-AI Filing Summary

Arthur J. Gallagher & Co. Vice President receives phantom stock award. On March 4, 2026, Scott R. Hudson acquired 2,202.546 phantom stock units at a reference price of $227.010 per unit. After this grant, he holds 3,764.121 phantom stock units in total.

Each phantom stock unit represents the right to receive one share of Gallagher common stock. The award was made under the company’s Age 62 nonqualified deferred compensation plan, where participants generally vest upon reaching age 62 or, for those already age 61, after one year.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hudson Scott R

(Last) (First) (Middle)

2850 GOLF ROAD

(Street)

ROLLING MEADOWS IL 60008-4002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Arthur J. Gallagher & Co. [ AJG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	03/04/2026		A		2,202.546		(2)	(2)	Common Stock	2,202.546	$227.01	3,764.121	D

Explanation of Responses:

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

2. 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.

	/s/ Monica Norzagaray, by power of attorney	03/06/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Arthur J. Gallagher (AJG) disclose about Scott R. Hudson’s latest equity award?

Arthur J. Gallagher disclosed that Vice President Scott R. Hudson received 2,202.546 phantom stock units on March 4, 2026. These units were valued at $227.010 each and increased his total phantom stock holdings to 3,764.121 units under the company’s nonqualified deferred compensation plan.

What is the size of Scott R. Hudson’s new phantom stock grant at AJG?

Scott R. Hudson was granted 2,202.546 phantom stock units at a reference price of $227.010 per unit. Following this award, his aggregate phantom stock holdings rose to 3,764.121 units, all tied to the value of Arthur J. Gallagher common stock through the company’s deferred compensation program.

How do the phantom stock units granted to AJG executive Scott R. Hudson work?

Each phantom stock unit granted to Scott R. Hudson represents a right to receive one share of Arthur J. Gallagher common stock. The units are part of the Age 62 nonqualified deferred compensation plan and track the company’s share value instead of being actual shares until settled under plan terms.

Under which plan did Arthur J. Gallagher grant phantom stock to Scott R. Hudson?

The phantom stock granted to Scott R. Hudson was awarded under Arthur J. Gallagher’s Age 62 Plan, a nonqualified deferred compensation plan. Awards are deemed invested in company common stock and typically vest when participants reach age 62, or after one year for participants already age 61.

When do Scott R. Hudson’s AJG phantom stock awards under the Age 62 Plan vest?

Under the Age 62 Plan, participants like Scott R. Hudson generally vest in phantom stock awards when they attain age 62. For participants who have already reached age 61 at grant, vesting occurs after a one-year period, according to the disclosed plan terms in the filing.