GALLAGHER J PATRICK JR 4

What Happened J. Patrick Gallagher Jr., CEO and director of Arthur J. Gallagher & Co. (AJG), had 45,048 performance-based shares vest on March 15, 2026. The award/conversion was reported as an acquisition (award/conversion of derivative). To cover taxes, 19,168 of those shares were surrendered/withheld at $207.93 per share, a tax payment of $3,985,602. The net shares remaining to him from this vesting event are 25,880 (45,048 awarded − 19,168 withheld).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (reported within the typical 2-business-day window).
• Award/acquisition: 45,048 shares reported as an award/derivative conversion (codes A and M).
• Tax withholding/disposition: 19,168 shares disposed to cover tax liability at $207.93/share = $3,985,602 (code F).
• Net shares retained from this vesting: 25,880 shares.
• Footnote of note: F1 states these were performance share units awarded March 15, 2023 that earned and vested March 15, 2026.
• Shares owned after transaction: not specified in the filing.

Context This was not an open-market sale or purchase by the CEO but a standard vesting and settlement event: performance share units converted to common stock and a portion of the issued shares were withheld to satisfy tax withholding obligations (a routine administrative disposition). M-code entries reflect conversion/exercise of derivative awards; F-code indicates shares surrendered for tax payment. Such internal withholding transactions are common and do not necessarily signal a change in the insider’s view of the company's stock.