Pesch Michael Robert 4

4 · Arthur J. Gallagher & Co. · Filed Jul 6, 2026

AI-generated summary of this filing

Updated Jul 7, 2026

Arthur J. Gallagher (AJG) VP Michael Pesch Receives 356 Shares

What Happened

Michael Robert Pesch, Vice President of Arthur J. Gallagher & Co. (AJG), had 355.801 notional stock units converted into 355.801 shares of AJG common stock on July 1, 2026. The filing shows an acquisition at an effective price of $229.57 per share, valuing the shares at $81,681. The filing also records the corresponding derivative (the notional units) being disposed/terminated in the conversion (reported at $0 cash proceeds).
This was a conversion/distribution of deferred compensation (not an open-market buy or sale). It does not necessarily signal a buy or sell decision in the market — it reflects a planned payout under the company’s deferred compensation plan.

Key Details

Transaction date: July 1, 2026. Filing date: July 6, 2026 (filed after the typical 2-business-day Form 4 deadline).
Shares acquired: 355.801 at $229.57 per share; total reported value $81,681.
Disposition line: 355.801 derivative units reported disposed at $0 as part of the conversion/settlement.
Shares owned after transaction: Not specified in the filing.
Relevant footnotes: F2 (each notional stock unit = right to one share); F3/F4 (portions payable in July 2026, 2027 and 2028 and upon separation); F1 (some shares held in an irrevocable trust with spouse as trustee); filing remarks state this distribution followed the reporting person’s prior election under the Supplemental Savings and Thrift Plan.
Transaction code: M = exercise or conversion of a derivative (here, conversion of notional stock units into common stock).

Context

This was a scheduled distribution of deferred compensation (not a market purchase or sale). The derivative units were converted into actual shares — no immediate open-market sale was reported.
Such conversions are routine for deferred-compensation plans and are different from insider purchases (which some investors view as bullish) or discretionary sales. The late filing (reported July 6 for a July 1 transaction) is an administrative timing matter and may warrant noting for timely disclosure tracking.

Form 4

Period: 2026-07-01

Vice President

Transactions

Exercise/Conversion
Common Stock
2026-07-01$229.57/sh+355.801$81,681→ 44,832.729 total
Exercise/Conversion
Notional Stock Units
[F2][F3][F4]
2026-07-01−355.801→ 6,134.526 total
Exercise: $0.00→ Common Stock (355.801 underlying)

Holdings

Common Stock
(indirect: By Children)
59
Common Stock
[F1]
(indirect: By Trust)
12,505
Common Stock
(indirect: By 401(k))
491.139
Phantom Stock
[F5][F6]
→ Common Stock (49,545.666 underlying)
49,545.666
Non-qualified Stock Option
[F7]
Exercise: $228.20Exp: 2033-03-01→ Common Stock (13,167 underlying)
13,167
Non-qualified Stock Option
[F8][F9]
Exercise: $86.17Exp: 2027-03-12→ Common Stock (7,520 underlying)
7,520
Non-qualified Stock Option
[F9][F10]
Exercise: $127.90Exp: 2028-03-16→ Common Stock (7,255 underlying)
7,255
Non-qualified Stock Option
[F9][F11]
Exercise: $158.56Exp: 2029-03-15→ Common Stock (4,900 underlying)
4,900
Non-qualified Stock Option
[F9][F12]
Exercise: $177.09Exp: 2030-03-15→ Common Stock (3,823 underlying)
3,823

Footnotes (12)

[F1]Shares held in irrevocable trust, of which his spouse is sole Trustee.
[F10]Grant date of 3/16/2021.
[F11]Grant date of 3/15/2022.
[F12]Grant date of 3/15/2023.
[F2]Each notional stock unit represents a right to receive one share of Gallagher common stock.
[F3]Portions of these notional stock units are payable to the reporting person in shares of common stock in July of 2026, 2027 and 2028 and following the reporting person's separation from service.
[F4]Portions of these notional stock units are payable to the reporting person in shares of common stock in July of 2026, 2027 and 2028 and following the reporting person's separation from service.
[F5]Each share of phantom stock represents a right to receive one share of Gallagher common stock.
[F6]These shares represent awards under the Age 62 Plan, a nonqualified deferred compensation plan of the Company, which have been deemed invested in Company common stock at the election of the reporting person. Participants vest in these awards when they attain age 62, or after a one-year period for participants who have attained age 61.
[F7]One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
[F8]Grant date of 3/12/2020.
[F9]One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.

Signature

/s/ Monica Norzagaray, by power of attorney|2026-07-06

1 file