Gallagher director granted 152.672 stock units

A director of Arthur J. Gallagher & Co. increased his direct shareholdings through a deferred-fee share award rather than an open-market purchase.

Rhea-AI Filing Summary

Arthur J. Gallagher & Co. (AJG) reported that director Christopher C. Miskel received a grant of 152.672 shares of common stock equivalents on September 1, 2026, as a grant/award acquisition under the company’s Director Deferral Plan. This resulted from his prior election to defer his annual cash retainer into deferred share units, which will be settled in common stock. Following this award, his directly held position increased to 10,826.439 shares of common stock. No Rule 10b5-1 trading plan is reported for this transaction.

Insider Trade Summary

Grant/Award: 152.672 shares

Grant/Award 1 txn

Insider Miskel Christopher C.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	152.672	$262.00	$40K

Holdings After Transaction: Common Stock — 10,826.439 shares (Direct)

Footnotes (1)

1. F1. This acquisition resulted from the reporting person's election in a prior year (pursuant to the Company's Director Deferral Plan) to defer the reporting person's annual cash retainer, which the Company pays on a quarterly basis, into deferred share units that will be distributed in the form of the Company's common stock.

Key Figures

Shares granted: 152.672 shares Grant reference price per share: $262.00 per share Shares held after transaction: 10,826.439 shares +1 more

4 metrics

Shares granted 152.672 shares Grant or award acquisition of common stock equivalents on September 1, 2026

Grant reference price per share $262.00 per share Reported price per share for the 152.672-share award

Shares held after transaction 10,826.439 shares Directly owned Arthur J. Gallagher & Co. common stock following the award

Number of acquire-type transactions 1 transaction Single grant or award acquisition reported in this Form 4

Key Terms

Director Deferral Plan, deferred share units, annual cash retainer

3 terms

Director Deferral Plan financial

"pursuant to the Company's Director Deferral Plan to defer the reporting person's annual cash retainer"

A director deferral plan lets board members delay receiving part or all of their pay—typically fees or equity—until a later date, with the deferred amount converted to cash or units that are paid out on a set future date or event. For investors, it signals how a company manages present cash flow and aligns directors’ interests with long-term performance, while creating future payment obligations or possible share dilution when those deferred amounts are settled—like choosing to take a future pension or stock grant instead of a paycheck today.

deferred share units financial

"to defer the reporting person's annual cash retainer ... into deferred share units that will be distributed"

Deferred share units are promises that give an executive or director the right to receive company shares or their cash value at a future date, often when they retire or leave the company. Think of them as a paycheck held in a savings account that converts into stock later; they matter to investors because they tie pay to long-term performance, create potential future dilution of shares, and represent a delayed cash or share obligation the company must eventually fulfill.

annual cash retainer financial

"election in a prior year to defer the reporting person's annual cash retainer"

FAQ

What insider transaction did AJG director Christopher C. Miskel report on this Form 4?

He reported a grant of 152.672 shares of Arthur J. Gallagher & Co. common stock equivalents on September 1, 2026, classified as a grant or award acquisition of non-derivative common stock.

How did this Form 4 transaction affect Christopher C. Miskel’s AJG shareholdings?

After the award, Christopher C. Miskel directly held 10,826.439 shares of Arthur J. Gallagher & Co. common stock, reflecting the addition of the 152.672-share grant reported in the filing.

Was the AJG Form 4 transaction an open-market purchase or sale?

No. The filing describes the transaction as a grant or award acquisition tied to a prior election under the Director Deferral Plan, not as an open-market purchase or sale of Arthur J. Gallagher & Co. shares.

What is the role of the Director Deferral Plan in this AJG Form 4 filing?

The footnote explains that Miskel had previously elected under the Director Deferral Plan to defer his annual cash retainer into deferred share units, which the company pays quarterly and will distribute as common stock.

Was the reported AJG insider transaction under a Rule 10b5-1 trading plan?

The filing indicates no Rule 10b5-1 plan; the document-level checkbox is not affirmed, and the transaction is instead linked to the Director Deferral Plan election and quarterly payment mechanics.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/02/2026 - 05:55 PM Accepted by SEC EDGAR 09/02/2026 - 05:54 PM Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Miskel Christopher C.

(Last) (First) (Middle)

2850 GOLF ROAD

(Street)

ROLLING MEADOWS ILLINOIS 60008

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2026

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

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

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

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
Common Stock	09/01/2026		A		152.672(1)	A	$262	10,826.439	D

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

Explanation of Responses:

1. This acquisition resulted from the reporting person's election in a prior year (pursuant to the Company's Director Deferral Plan) to defer the reporting person's annual cash retainer, which the Company pays on a quarterly basis, into deferred share units that will be distributed in the form of the Company's common stock.

	/s/ Monica Norzagaray, by power of attorney	09/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)