Hudson Scott R 4

What Happened
Hudson Scott R, a Vice President at Arthur J. Gallagher & Co. (AJG), exercised 3,800 stock options and immediately sold the resulting 3,800 shares on March 6, 2026. The options were exercised at $79.59 per share (cost $302,442) and the shares were sold in an open-market sale at $227.57 per share for gross proceeds of approximately $864,766. Footnote F1 indicates these were exercises and sales of expiring stock options.

Key Details

• Transaction date: March 6, 2026.
• Exercise (M): 3,800 shares at $79.59 each — total exercise cost $302,442.
• Sale (S): 3,800 shares at $227.57 each — gross proceeds $864,766.
• Additional M-coded line shows a 3,800-share derivative disposition at $0 (per filing); footnote F1 clarifies these relate to the exercise/sale of expiring options.
• Filing date: March 9, 2026 — filed within the standard reporting window (timely).
• Shares owned after the transaction: not disclosed in the provided excerpt of the filing.

Context
This was a cashless-style sequence: options were exercised and the shares were sold immediately. Such exercises followed by immediate sales are common for option vesting/expiration and typically reflect liquidity/tax-management rather than a directional bet on the stock. The key takeaway for investors is the insider realized proceeds from options rather than adding to an equity position.