BAY WALTER D. (General Counsel) received a stock award from ARTHUR J. GALLAGHER & CO.

Compensation award — not an open‑market transaction. Less informative as a directional signal.

A · 1 award

BAY WALTER D.

Filed: 3/17/2026ACC: 0000354190-26-000075

InsiderBAY WALTER D.CIK 1410235

→

IssuerARTHUR J. GALLAGHER & CO.CIK 354190

Officer· General Counsel

Since Mar 2026

+4.68K

Net shares

Net buyer

$501.3K

Total sold

Open market trades

0B · 0S

Total transactions

14.18K acquired · 9.50K disposed

Non-Derivative Transactions4

Common Stock (restricted)

Direct

A · Award

+7.09K

Price / share

—

Trade value

—

% of position

New position

3/15/2026

0.00→7.09K

Common Stock (restricted)

Direct

M · Option Exercise

−7.09K

Price / share

—

Trade value

—

% of position

New position

3/15/2026

7.09K→0.00

Common Stock

Direct

M · Option Exercise

+7.09K

Price / share

—

Trade value

—

% of position

9.4%

3/15/2026

75.41K→82.50K

Common Stock

Direct

F · Tax Withholding

−2.41K

Price / share

$207.93

Trade value

$501.32K

% of position

3.1%

3/15/2026

77.83K→75.41K

Total

Net shares

+4.68K

Net value

-$501.32K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock (restricted) Direct	3/15/2026	A · Award	+7.09K	—	—	New position	0.00	7.09K
Common Stock (restricted) Direct	3/15/2026	M · Option Exercise	−7.09K	—	—	New position	7.09K	0.00
Common Stock Direct	3/15/2026	M · Option Exercise	+7.09K	—	—	9.4%	75.41K	82.50K
Common Stock Direct	3/15/2026	F · Tax Withholding	−2.41K	$207.93	$501.32K	3.1%	77.83K	75.41K
Total			+4.68K		-$501.32K

Derivative Transactions0

No derivative transactions reported

Non-Derivative Holdings (Post-Transaction)1

Common Stock

Indirect

Shares owned491.13

Total

491.13 indirect491.13

Security Title	Shares Owned	Ownership Type
Common Stock	491.13	Indirect
Total	491.13	491.13 indirect

Derivative Holdings (Post-Transaction)9

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

10.88K

Shares owned

10.88K

Exercise price

243.54

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

17.63K

Shares owned

17.63K

Exercise price

86.17

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

16.95K

Shares owned

16.95K

Exercise price

228.20

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

11.40K

Shares owned

11.40K

Exercise price

158.56

Expiration

—

Exercise window

—

Phantom Stock

Direct

Underlying security

Common Stock

Underlying shares

5.40K

Shares owned

5.40K

Exercise price

Expiration

—

Exercise window

—

Notional Stock Units

Direct

Underlying security

Common Stock

Underlying shares

5.83K

Shares owned

5.83K

Exercise price

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

11.35K

Shares owned

11.35K

Exercise price

337.74

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

24.50K

Shares owned

24.50K

Exercise price

127.90

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

9.45K

Shares owned

9.45K

Exercise price

177.09

Expiration

—

Exercise window

—

Total

Underlying

113.40K

Owned

113.40K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Non-qualified Stock Option Direct	Common Stock	243.54	—	—	10.88K	10.88K
Non-qualified Stock Option Direct	Common Stock	86.17	—	—	17.63K	17.63K
Non-qualified Stock Option Direct	Common Stock	228.20	—	—	16.95K	16.95K
Non-qualified Stock Option Direct	Common Stock	158.56	—	—	11.40K	11.40K
Phantom Stock Direct	Common Stock		—	—	5.40K	5.40K
Notional Stock Units Direct	Common Stock	0	—	—	5.83K	5.83K
Non-qualified Stock Option Direct	Common Stock	337.74	—	—	11.35K	11.35K
Non-qualified Stock Option Direct	Common Stock	127.90	—	—	24.50K	24.50K
Non-qualified Stock Option Direct	Common Stock	177.09	—	—	9.45K	9.45K
Total					113.40K	113.40K