Jain Vishal 4

What Happened
Vishal Jain, Vice President of Arthur J. Gallagher & Co. (AJG), exercised 8,450 stock options on March 9, 2026. The exercise price reported for the exercised options was $79.59 per share, giving an acquisition value of $672,536. The company withheld 4,326 shares to cover tax and exercise obligations (reported value $948,238), resulting in a net receipt of 4,124 shares (8,450 exercised − 4,326 withheld). The filing shows the exercise/conversion and the withholding transactions; this is a routine option exercise and associated tax withholding (not an open-market purchase).

Key Details

• Transaction date: 2026-03-09 (reported on Form 4 filed 2026-03-10) — filing appears timely.
• Option exercise: 8,450 shares @ $79.59 (acquired) — reported value $672,536.
• Tax/exercise withholding: 4,326 shares @ $219.19 (disposed) — reported value $948,238.
• Net shares retained: 4,124 (8,450 − 4,326).
• Shares owned after transaction: not specified in the provided filing.
• Relevant footnotes: F1 indicates shares were withheld to cover tax/exercise obligations; F2/F3 reference a grant date of 3/14/2019 with a one‑third vesting schedule on the 3rd, 4th, and 5th anniversaries (typical vesting terms).
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (withholding).
• No 10b5-1 plan or late filing indicated in the provided details.

Context
This was an option exercise with a net/cashless-style outcome because the company withheld shares to satisfy the tax and exercise obligations — a common administrative step that does not necessarily indicate a buy/sell signal by the insider. The F-type withholding is routine and often driven by tax rules rather than a decision to sell on the open market.