HOWELL DOUGLAS K (VP & Chief Financial Officer) exercised options at ARTHUR J. GALLAGHER & CO.

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 1 exercise

HOWELL DOUGLAS K

Filed: 4/2/2026ACC: 0000354190-26-000122

InsiderHOWELL DOUGLAS KCIK 1222374

→

IssuerARTHUR J. GALLAGHER & CO.CIK 354190

Officer· VP & Chief Financial Officer

Since Mar 2026

-76.38

Net shares

Net seller

$16.5K

Total sold

Open market trades

0B · 0S

Total transactions

76.38 acquired · 152.76 disposed

Non-Derivative Transactions2

Common Stock

Direct

M · Option Exercise

+76.38

Price / share

$215.95

Trade value

$16.49K

% of position

0.1%

3/31/2026

106.71K→106.79K

Common Stock

Direct

F · Tax Withholding

−76.38

Price / share

$215.95

Trade value

$16.49K

% of position

0.1%

3/31/2026

106.79K→106.71K

Total

Net shares

+0.00

Net value

$0.00

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	3/31/2026	M · Option Exercise	+76.38	$215.95	$16.49K	0.1%	106.71K	106.79K
Common Stock Direct	3/31/2026	F · Tax Withholding	−76.38	$215.95	$16.49K	0.1%	106.79K	106.71K
Total			+0.00		$0.00

Derivative Transactions1

Phantom Stock

Direct

M · Option Exercise

Converts to

Common Stock

76.38 shares

−76.38

Strike price

Held after

6.87K

Exercisable

—

3/31/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Phantom Stock Direct	Common Stock76.38 shares	3/31/2026	M · Option Exercise	−76.38		—	6.87K

Non-Derivative Holdings (Post-Transaction)2

Common Stock

Indirect

Shares owned3.17K

Common Stock

Indirect

Shares owned491.13

Total

3.66K indirect3.66K

Security Title	Shares Owned	Ownership Type
Common Stock	3.17K	Indirect
Common Stock	491.13	Indirect
Total	3.66K	3.66K indirect

Derivative Holdings (Post-Transaction)9

Notional Stock Units

Direct

Underlying security

Common Stock

Underlying shares

208.34K

Shares owned

208.34K

Exercise price

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

12.73K

Shares owned

12.73K

Exercise price

243.54

Expiration

—

Exercise window

—

Notional Stock Units

Direct

Underlying security

Common Stock

Underlying shares

192.20K

Shares owned

192.20K

Exercise price

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

14.54K

Shares owned

14.54K

Exercise price

158.56

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

13.88K

Shares owned

13.88K

Exercise price

337.74

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

20.74K

Shares owned

20.74K

Exercise price

228.20

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

12.11K

Shares owned

12.11K

Exercise price

177.09

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

17.13K

Shares owned

17.13K

Exercise price

86.17

Expiration

—

Exercise window

—

Non-qualified Stock Option

Direct

Underlying security

Common Stock

Underlying shares

31.27K

Shares owned

31.27K

Exercise price

127.90

Expiration

—

Exercise window

—

Total

Underlying

522.94K

Owned

522.94K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Notional Stock Units Direct	Common Stock	0	—	—	208.34K	208.34K
Non-qualified Stock Option Direct	Common Stock	243.54	—	—	12.73K	12.73K
Notional Stock Units Direct	Common Stock	0	—	—	192.20K	192.20K
Non-qualified Stock Option Direct	Common Stock	158.56	—	—	14.54K	14.54K
Non-qualified Stock Option Direct	Common Stock	337.74	—	—	13.88K	13.88K
Non-qualified Stock Option Direct	Common Stock	228.20	—	—	20.74K	20.74K
Non-qualified Stock Option Direct	Common Stock	177.09	—	—	12.11K	12.11K
Non-qualified Stock Option Direct	Common Stock	86.17	—	—	17.13K	17.13K
Non-qualified Stock Option Direct	Common Stock	127.90	—	—	31.27K	31.27K
Total					522.94K	522.94K