AJ Gallagher (NYSE: AJG) VP awarded 6,930 shares; 2,321 used for taxes

Rhea-AI Filing Summary

Arthur J. Gallagher & Co. Vice President William F. Ziebell reported compensation-related equity activity on March 15, 2026. He received a grant of 6,930 restricted common shares, earned from performance share units awarded in 2023. These units were converted into common stock, and 2,321 shares were withheld at $207.93 per share to cover tax obligations, leaving 48,684.8241 common shares held directly. The filing notes it was submitted one day late due to a technical issue and shows substantial remaining phantom stock and non-qualified stock options linked to Gallagher common shares.

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

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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^*

Ziebell William F

(Last) (First) (Middle)

2850 GOLF ROAD

(Street)

ROLLING MEADOWS ILLINOIS 60008-4002

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

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 (restricted)	03/15/2026(1)		A		6,930(2)	A	$0	6,930	D
Common Stock (restricted)	03/15/2026		M		6,930	D	$0	0	D
Common Stock	03/15/2026		M		6,930	A	$0	51,005.8241	D
Common Stock	03/15/2026		F		2,321	D	$207.93	48,684.8241	D
Common Stock								491.139	I	Gallagher 401(k) plan account

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	(3)							(4)	(4)	Common Stock	68,213.391		68,213.391	D
Non-qualified Stock Option	$86.17							(5)	03/12/2027	Common Stock	23,510		23,510	D
Non-qualified Stock Option	$127.9							(5)	03/16/2028	Common Stock	22,210		22,210	D
Non-qualified Stock Option	$158.56							(5)	03/15/2029	Common Stock	11,100		11,100	D
Non-qualified Stock Option	$337.74(6)							(5)	03/01/2032	Common Stock	9,917		9,917	D
Non-qualified Stock Option	$243.54							(7)	03/01/2031	Common Stock	9,712		9,712	D
Non-qualified Stock Option	$177.09							(8)	03/15/2030	Common Stock	9,240		9,240	D
Notional Stock Units	(9)							(10)	(10)	Common Stock	6,033.7549		6,033.7549	D

Explanation of Responses:

1. Filed one day late due to a technical filing issue.

2. Performance share units (awarded on March 15, 2023) earned and vested as of March 15, 2026.

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

4. 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.

5. One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

6. Closing price of Gallagher common stock on February 28, 2025.

7. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

8. One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

9. Each notional stock unit represents a right to receive one share of Gallagher common stock.

10. The notional stock units become payable following the reporting person's separation from service with Gallagher.

Remarks:

Ex-24: Power of Attorney.

	/s/ Monica Norzagaray, by power of attorney	03/18/2026
	** Signature of Reporting Person	Date
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* Form 4: SEC 1474 (03-26)