Arthur J. Gallagher (NYSE: AJG) COO receives phantom stock award

Rhea-AI Filing Summary

Gallagher Patrick Murphy reported acquisition or exercise transactions in this Form 4 filing.

Arthur J. Gallagher & Co.'s Chief Operating Officer Patrick Murphy Gallagher received an award of 1,541.782 shares of phantom stock on March 4, 2026. Each phantom stock share represents a right to receive one share of Gallagher common stock, valued at $227.01 per share for this grant.

The award was made under the company’s Age 62 Plan, a nonqualified deferred compensation plan, where awards are deemed invested in company common stock at the executive’s election. After this grant, Gallagher directly holds 17,594.638 phantom stock shares under this plan, which vest upon attaining age 62 or, for participants already 61, after one year.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Gallagher Patrick Murphy

Role Chief Operating Officer

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	1,541.782	$227.01	$350K

Holdings After Transaction: Phantom Stock — 17,594.638 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.

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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 Patrick Murphy

(Last) (First) (Middle)

2850 GOLF ROAD

(Street)

ROLLING MEADOWS IL 60008

(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)
	Chief Operating Officer

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		1,541.782		(2)	(2)	Common Stock	1,541.782	$227.01	17,594.638	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 report for Patrick Murphy Gallagher?

Patrick Murphy Gallagher, Chief Operating Officer of Arthur J. Gallagher & Co. (AJG), received 1,541.782 phantom stock shares on March 4, 2026. These were granted as a compensation award, not an open-market purchase, under the company’s Age 62 nonqualified deferred compensation plan.

What is the value and nature of the phantom stock granted at AJG?

The phantom stock grant to AJG’s COO was priced at $227.01 per phantom share for this award. Each phantom share represents a right to receive one share of Arthur J. Gallagher common stock, functioning as a deferred equity-based compensation rather than immediately tradable stock.

How many phantom stock shares does AJG’s COO hold after this transaction?

Following the March 4, 2026 award, AJG’s Chief Operating Officer directly holds 17,594.638 phantom stock shares. These units are part of the Age 62 Plan and are deemed invested in company common stock, providing a deferred equity-linked interest rather than current share ownership.

How does AJG’s Age 62 Plan vesting work for phantom stock awards?

Under Arthur J. Gallagher & Co.’s Age 62 Plan, participants vest in phantom stock awards when they reach age 62. For participants who are already age 61 at the time of grant, vesting occurs after a one-year period, aligning the compensation with longer-term service and retirement timing.