GALLAGHER J PATRICK JR 4

What Happened
J. Patrick Gallagher Jr, CEO and director of Arthur J. Gallagher & Co. (AJG), was granted 7,929.166 shares (derivative/phantom stock) on March 4, 2026, at a reported price of $227.01 per share, representing a total value of $1,800,000. The transaction is reported as an award/acquisition (code A) of derivative securities rather than an open-market purchase.

Key Details

• Transaction date and price: 2026-03-04 at $227.01 per share; total reported value $1,800,000.
• Security type: Phantom stock (derivative award) — each phantom share represents a right to receive one common share (see footnote F1).
• Plan: Awards were made under the Age 62 Plan, a nonqualified deferred compensation plan; these awards have been deemed invested in company common stock at the participant’s election (footnote F2). Vesting occurs at age 62 (or after a one-year period for participants who have attained age 61).
• Shares owned after transaction: Not specified in the filing.
• Filing timing: Reported on Form 4 filed 2026-03-06 for a 2026-03-04 transaction — appears timely under normal Form 4 reporting rules.

Context
This was a deferred-compensation award of phantom stock, not an open-market buy or sale. Such awards are compensation-related and do not necessarily signal immediate buying or selling intent; they represent a future right to receive common shares per plan terms.