Phantom stock grant to Arthur J. Gallagher (NYSE: AJG) president

Rhea-AI Filing Summary

Arthur J. Gallagher & Co. reported that President Thomas Joseph Gallagher acquired 2,643.055 shares of phantom stock on March 4, 2026 at a reference price of $227.01 per unit. Each phantom share represents a right to receive one share of Gallagher common stock.

These units were granted under the company’s Age 62 Plan, a nonqualified deferred compensation plan in which awards are deemed invested in company common stock at the participant’s election. After this award, Gallagher holds 20,232.185 phantom stock units. Participants vest in these awards upon reaching age 62, or after one year if they are at least 61.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider GALLAGHER THOMAS JOSEPH

Role President

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	2,643.055	$227.01	$600K

Holdings After Transaction: Phantom Stock — 20,232.185 shares (Direct)

Footnotes (1)

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

Form 4 Insider Transactions: What Each Field Means →

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^*

GALLAGHER THOMAS JOSEPH

(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)
	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		2,643.055		(2)	(2)	Common Stock	2,643.055	$227.01	20,232.185	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 insider transaction did AJG President Thomas Joseph Gallagher report on this Form 4?

Thomas Joseph Gallagher reported acquiring 2,643.055 phantom stock units on March 4, 2026. The award was made under Arthur J. Gallagher & Co.’s Age 62 Plan and increases his total phantom stock holdings to 20,232.185 units linked to company common stock.

What is phantom stock in Arthur J. Gallagher & Co.'s Age 62 Plan?

Each phantom stock share represents a right to receive one share of Arthur J. Gallagher common stock. Under the Age 62 Plan, awards are part of a nonqualified deferred compensation program and are deemed invested in company common stock at the participant’s election rather than being actual shares today.

How many phantom stock units did AJG's president receive and at what price?

The president received 2,643.055 phantom stock units at a reference price of $227.01 per unit. This grant increased his total phantom stock position to 20,232.185 units, each tied to one future share of Arthur J. Gallagher & Co. common stock under the plan.

When do Age 62 Plan phantom stock awards at Arthur J. Gallagher & Co. vest?

Participants vest in Age 62 Plan awards when they reach age 62. For participants who have already attained age 61, vesting occurs after a one-year period. These terms apply to phantom stock deemed invested in Arthur J. Gallagher & Co. common stock under the plan.

Does the AJG Form 4 indicate whether the phantom stock is directly owned by the president?

Yes. The transaction is reported as directly owned, with ownership coded as “D” for direct. The filing does not attribute the phantom stock units to any trust, partnership, or other entity, so the holdings are listed under Thomas Joseph Gallagher’s direct ownership.