Jain Vishal 4

What Happened
Jain Vishal, a Vice President at Arthur J. Gallagher & Co. (AJG), converted/exercised 50.921 deferred/phantom stock units into 50.921 shares and had those same shares withheld to cover employment taxes. The withholding was valued at $215.95 per share, totaling $10,996. This was not an open-market sale or purchase by the insider — it was a routine conversion/vesting and tax-withholding event.

Key Details

• Transaction date: 2026-03-31; Form 4 filed 2026-04-02 (timely filing).
• Conversion/exercise (code M): 50.921 units → 50.921 shares acquired at $215.95 each (total $10,996).
• Tax withholding/payment (code F): 50.921 shares disposed/withheld at $215.95 each to cover taxes (total $10,996).
• A related derivative disposition is reported at $0 reflecting conversion of notional units.
• Shares owned after the transaction: not specified in the filing.
• Notable footnotes: units relate to the Age 62 nonqualified deferred compensation plan; each phantom/notional unit equals one share and becomes payable upon separation or at plan vesting (participants vest at age 62, or earlier in limited cases). Remark confirms the transaction solely reflects share withholding for employment taxes.

Context
This was a conversion/vesting and tax-withholding event (derivative exercise and withholding), not a market sale or buy — a routine administrative transaction common with deferred/phantom stock and nonqualified plans. For retail investors, such withholdings generally do not signal insider sentiment since they are used solely to satisfy tax obligations.