Arthur J. Gallagher CFO Howell exercises 17,130 options
The report describes the additional share sales as covering Howell’s tax obligations and other purposes.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Arthur J. Gallagher & Co. VP & Chief Financial Officer Douglas K. Howell exercised 17,130 expiring options on November 2, 2026, at $86.17 per share, acquiring 17,130 common shares, and sold 17,130 shares at $275.00 each. He also sold 13,374 shares at a reported weighted-average price of $275.303 and 492 shares at $275.912. The report describes the additional sales as covering tax obligations and other purposes; no Rule 10b5-1 plan is reported.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
5 txns
Insider
HOWELL DOUGLAS K
Role
VP & Chief Financial Officer
Sold
30,996 shs ($8.53M)
Approx. gross sale proceeds
$8.53M
Approx. exercise cost
$1.48M
Share of Position Sold
25.0%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-qualified Stock Option F4 | 17,130 | $0.00 | $0.00 |
| Exercise | Common Stock | 17,130 | $86.17 | $1.48M |
| Sale | Common Stock | 17,130 | $275.00 | $4.71M |
| Sale | Common Stock F1 | 13,374 | $275.303 | $3.68M |
| Sale | Common Stock F2 | 492 | $275.912 | $136K |
| Holding | Notional Stock Units F5, F6 | -- | -- | -- |
| Holding | Notional Stock Units F5, F7 | -- | -- | -- |
| Holding | Non-qualified Stock Option F4 | -- | -- | -- |
| Holding | Non-qualified Stock Option F8 | -- | -- | -- |
| Holding | Non-qualified Stock Option F4 | -- | -- | -- |
| Holding | Non-qualified Stock Option F9, F4 | -- | -- | -- |
| Holding | Non-qualified Stock Option F10 | -- | -- | -- |
| Holding | Non-qualified Stock Option F11 | -- | -- | -- |
| Holding | Phantom Stock F12, F13 | -- | -- | -- |
| Holding | Common Stock F3 | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Non-qualified Stock Option — 105,264 contracts (Direct);
Common Stock — 92,961.323 shares (Direct);
Notional Stock Units — 394,296.0066 contracts (Direct);
Phantom Stock — 6,889.431 contracts (Direct);
Common Stock — 3,165 shares (Indirect, By Spouse);
Common Stock — 491.131 shares (Indirect, Gallagher 401(k) plan account)
Holdings Before and After:
Non-qualified Stock Option, 122,394 to 105,264 contracts (Direct);
Common Stock, 106,827.323 to 92,961.323 shares (Direct)
Other Insiders: 1 other insider reported open-market sales of this stock in the 30 days up to this filing.
Footnotes (13)
- F1. The price reported is an average weighted price. The shares were purchased in multiple transactions at prices ranging from $274.84 to $275.465. The reporting person will provide to the Securities and Exchange Commission staff, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- F2. The price reported is an average weighted price. The shares were purchased in multiple transactions at prices ranging from $275.91 to $275.92. The reporting person will provide to the Securities and Exchange Commission staff, the issuer, or any security holder of the issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- F3. The reporting person has no voting or invesment power over these shares and disclaims beneficial ownership.
- F4. One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- F5. Each notional stock unit represents a right to receive one share of Gallagher common stock.
- F6. The notional stock units become payable in July 2026 and following the reporting person's separation from service with Gallagher.
- F7. Portions of these notional stock units are payable to the reporting person in shares of common stock in July of 2026, 2028 and 2029 and following the reporting person's separation from service.
- F8. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- F9. Closing price of Gallagher common stock on February 28, 2025.
- F10. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- F11. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- F12. Each share of phantom stock represents a right to receive one share of Gallagher common stock.
- F13. 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.
Key Figures
Options exercised: 17,130 shares
Exercise price: $86.17 per share
Shares sold after exercise: 17,130 shares
+5 more
8 metrics
Options exercised
17,130 shares
November 2, 2026
Exercise price
$86.17 per share
Options exercised November 2, 2026
Shares sold after exercise
17,130 shares
November 2, 2026
Sale price
$275.00 per share
Sale on November 2, 2026
Additional shares sold
13,374 shares
Reported weighted-average price of $275.303 per share on November 2, 2026
Weighted-average sale price
$275.303 per share
13,374 shares sold November 2, 2026
Additional shares sold
492 shares
Reported weighted-average price of $275.912 per share on November 2, 2026
Weighted-average sale price
$275.912 per share
492 shares sold November 2, 2026
Key Terms
Non-qualified Stock Option, Notional Stock Units, Phantom Stock, Age 62 Plan, +1 more
5 terms
Non-qualified Stock Option financial
"Non-qualified Stock Option"
A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.
Notional Stock Units financial
"Each notional stock unit represents a right to receive one share"
Phantom Stock financial
"Each share of phantom stock represents a right to receive one share"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Age 62 Plan financial
"awards under the Age 62 Plan"
nonqualified deferred compensation plan financial
"a nonqualified deferred compensation plan of the Company"
A nonqualified deferred compensation plan is an arrangement where an employer lets select employees postpone receiving part of their pay or bonuses until a future date, often at retirement, so taxes are paid later. It matters to investors because these payouts are typically unsecured promises by the company—like an internal IOU—so they create future cash obligations and expose the company to extra liability risk if the business falters, and they also reveal how executives are being paid and motivated.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were the terms of Douglas K. Howell’s AJG option exercise?
Howell exercised 17,130 options at $86.17 per share on November 2, 2026, acquiring 17,130 common shares. He also reported selling 17,130 shares at $275.00 per share.
What AJG options and stock units did Douglas K. Howell hold?
The report lists options on 31,265 shares at $127.90 expiring March 16, 2028; 14,545 at $158.56 expiring March 15, 2029; 12,107 at $177.09 expiring March 15, 2030; 12,726 at $243.54 expiring March 1, 2031; 13,884 at $337.74 expiring March 1, 2032; and 20,737 at $228.20 expiring March 1, 2033. It also lists notional stock units representing 208,342.0810 and 185,953.9256 common shares, and phantom stock representing 6,889.431 shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
