JOHNSON DAVID S 4

What Happened

• David S. Johnson, a director of Arthur J. Gallagher & Co. (AJG), acquired 213.628 shares of AJG common stock on 2026-03-01. The reported per-share value was $228.20, for a total value of $48,750. This was an award/acquisition (code A) rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-01; Form 4 filed: 2026-03-02 (timely filing).
• Shares acquired: 213.628 at $228.20 per share; total reported value $48,750.
• Shares owned after transaction: not specified in the provided filing.
• Footnote: The shares were issued under the company’s Director Deferral Plan — Mr. Johnson had previously elected to defer his quarterly cash retainer into deferred share units that are now being distributed in common stock.
• Transaction type: award/acquisition (code A) — routine compensation-related issuance, not a sale or options exercise.

Context

• This transaction represents a compensation-related conversion of deferred cash into stock (deferred share units being distributed), which is common for non-employee directors. Such awards are typically routine and reflect payment of director retainer rather than a deliberate market-timing buy or sell.