Gallagher (NYSE: AJG) COO gifts 14,698 shares through family trust
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Arthur J. Gallagher & Co. Chief Operating Officer Patrick Murphy Gallagher reported a Form 4 showing a bona fide gift of 14,698 shares of common stock made indirectly through a trust. The trust still holds 98,105.25 shares of Gallagher common stock following this gift.
The filing also updates various indirect family trusts and a 401(k) account, as well as direct holdings of common stock, notional stock units, phantom stock and several non-qualified stock options with exercise prices ranging from $86.17 to $337.74 and expirations between 2027 and 2033.
Positive
- None.
Negative
- None.
Insider Trade Summary
14,698 shares gifted
Mixed
17 txns
Insider
Gallagher Patrick Murphy
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 14,698 | $0.00 | -- |
| holding | Non-qualified Stock Option | -- | -- | -- |
| holding | Phantom Stock | -- | -- | -- |
| 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 | Phantom Stock | -- | -- | -- |
| holding | Notional Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 98,105.25 shares (Indirect, By Trust);
Non-qualified Stock Option — 17,775 shares (Direct, null);
Phantom Stock — 17,660.851 shares (Direct, null);
Notional Stock Units — 2,351.803 shares (Direct, null);
Common Stock — 14,167.56 shares (Direct, null)
Footnotes (1)
- Shares held in trust for the benefit of the reporting person and immediate family members, of which he and his immediate family members, as applicable, is a trustee. Shares held in trusts, for the benefit of the reporting person's children, of which his wife is sole trustee. Shares held in a revocable trust and an irrevocable trust of which the reporting person's spouse is sole Trustee and as to which he disclaims beneficial ownership Shares held in trust for the benefit of the reporting person's children, of which he is a trustee. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date. 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. Closing price of Gallagher common stock on February 28, 2025. One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date. Grant date of 3/16/2021. Grant date of 3/12/2020. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date. Grant date of 3/15/2022. These shares represent awards under the Deferred Cash Participation Plan, a nonqualified deferred compensation plan of the Company, which have been deemed invested in Company common stock at the election of the participant. These awards are payable in a lump sum on the six-month anniversary of the reporting person's separation from service. Each notional stock unit represents a right to receive one share of Gallagher common stock. The notional stock units become payable following the reporting person's separation from service with Gallagher. The notional stock units become payable following the reporting person's separation from service with Gallagher.
Key Figures
Gifted shares: 14,698 shares
Trust holdings after gift: 98,105.25 shares
Direct common stock: 14,167.56 shares
+5 more
8 metrics
Gifted shares
14,698 shares
Bona fide gift of common stock via trust
Trust holdings after gift
98,105.25 shares
Common stock held indirectly by trust following gift
Direct common stock
14,167.56 shares
Common stock held directly by reporting person
Option position 1
5,510 options at $158.56
Non-qualified stock option expiring 2029-03-15
Option position 2
6,160 options at $177.09
Non-qualified stock option expiring 2030-03-15
Largest option grant
17,775 options at $228.20
Non-qualified stock option expiring 2033-03-01
Phantom stock units
17,660.851 units
Deferred compensation tied to common stock
Notional stock units
2,351.803 units
Right to receive Gallagher common stock
Key Terms
bona fide gift, phantom stock, notional stock units, non-qualified stock option, +2 more
6 terms
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
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.
notional stock units financial
"Each notional stock unit represents a right to receive one share"
non-qualified stock option financial
"security_title": "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.
nonqualified deferred compensation plan financial
"a nonqualified deferred compensation plan of the Company"
Age 62 Plan financial
"awards under the Age 62 Plan, a nonqualified deferred compensation plan"
FAQ
What insider transaction did Arthur J. Gallagher & Co. (AJG) report?
Arthur J. Gallagher & Co. reported that COO Patrick Murphy Gallagher made a bona fide gift of 14,698 shares of common stock through a trust. This is a non-sale transfer, with no transaction price and no open-market buying or selling activity disclosed.
Does the AJG Form 4 show market purchases or sales by the COO?
The Form 4 for Arthur J. Gallagher’s COO does not show open-market purchases or sales. It reports a bona fide gift of 14,698 shares via a trust and multiple holding entries that update indirect and direct positions, rather than new buy or sell transactions.
What derivative awards does the AJG COO hold according to the Form 4?
The COO holds several non-qualified stock options on Arthur J. Gallagher common stock, including 5,510 options at $158.56 and 6,160 at $177.09, plus others. Expiration dates range from 2027 to 2033, reflecting ongoing long-term equity-based compensation positions.
What are phantom stock and notional stock units in the AJG filing?
The filing shows phantom stock and notional stock units, each representing rights to receive Gallagher common stock. Balances include 17,660.851 phantom stock units and 2,351.803 notional stock units, generally tied to nonqualified deferred compensation and payable after separation from service.
How are family trusts reflected in the Arthur J. Gallagher (AJG) Form 4?
Several entries show shares held in trusts for the reporting person and family members. Some trusts list the COO or his spouse as trustee, and one footnote states he disclaims beneficial ownership for certain spouse-held revocable and irrevocable trust shares, clarifying indirect ownership.