HOWELL DOUGLAS K 4
4 · Arthur J. Gallagher & Co. · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Arthur J. Gallagher (AJG) CFO Douglas K. Howell Exercises Options, Sells Shares
What Happened
- Douglas K. Howell, CFO of Arthur J. Gallagher & Co. (AJG), exercised stock options and had performance/share awards vest in mid‑March 2026. On 2026-03-13 he acquired 14,100 shares by exercising options (exercise price $79.59; cash paid $1,122,219) and on 2026-03-15 9,082 performance/share units vested and converted to shares. To cover taxes and withholding obligations, a total of 12,503 shares were surrendered: 8,638 shares on 3/13 (proceeds reported $1,796,099) and 3,865 shares on 3/15 (proceeds $803,649), about $2.60M in gross value.
Key Details
- Filing date: March 17, 2026; transaction dates reported: March 13 and March 15, 2026. No late‑filing flag is indicated in the provided data.
- Major line items:
- 3/13/2026: Exercised 14,100 options @ $79.59 (acquired) — exercise cost $1,122,219.
- 3/13/2026: 8,638 shares withheld/surrendered for tax (F) @ $207.93 — $1,796,099.
- 3/15/2026: 9,082 performance share units awarded/converted (A / M) @ $0 — vested award (see F1).
- 3/15/2026: 3,865 shares withheld/surrendered for tax (F) @ $207.93 — $803,649.
- Total shares converted/acquired (per these entries): 23,182 (14,100 options + 9,082 vested units). Total shares withheld for taxes: 12,503, total proceeds ≈ $2,599,748.
- Shares owned after the reported transactions: not specified in the supplied excerpt.
- Relevant footnotes: F1 = performance share units awarded March 15, 2023, earned and vested March 15, 2026; F3 = expiring stock options auto‑exercised under the Long‑Term Incentive Plan; code F indicates shares withheld to satisfy tax liabilities.
Context
- These filings show an option exercise and the vesting/conversion of performance units with shares surrendered to cover tax withholding (payment code F). That pattern (exercise/vesting + share withholding) is common for executives meeting tax obligations and does not by itself signal a change in insider sentiment. For clarity: M = exercise/conversion of derivative (options/units), A = grant/award, and F = payment of exercise price or tax liability (share withholding).
Insider Transaction Report
Form 4
HOWELL DOUGLAS K
VP & Chief Financial Officer
Transactions
- Exercise/Conversion
Common Stock
2026-03-13$79.59/sh+14,100$1,122,219→ 110,130.756 total - Tax Payment
Common Stock
2026-03-13$207.93/sh−8,638$1,796,099→ 101,492.756 total - Award
Common Stock (restricted)
[F1]2026-03-15+9,082→ 9,082 total - Exercise/Conversion
Common Stock (restricted)
2026-03-15−9,082→ 0 total - Exercise/Conversion
Common Stock
2026-03-15+9,082→ 110,574.756 total - Tax Payment
Common Stock
2026-03-15$207.93/sh−3,865$803,649→ 106,709.756 total - Exercise/Conversion
Non-qualified Stock Option
[F3][F4]2026-03-13−14,100→ 0 totalExercise: $79.59Exp: 2026-03-14→ Common Stock (14,100 underlying)
Holdings
- 3,165(indirect: By Spouse)
Common Stock
[F2] - 491.131(indirect: By 401(k))
Common Stock
- 208,342.081
Notional Stock Units
[F5][F6]Exercise: $0.00→ Common Stock (208,342.081 underlying) - 192,204.248
Notional Stock Units
[F5][F7]Exercise: $0.00→ Common Stock (192,204.248 underlying) - 31,265
Non-qualified Stock Option
[F4]Exercise: $127.90Exp: 2028-03-16→ Common Stock (31,265 underlying) - 20,737
Non-qualified Stock Option
[F8]Exercise: $228.20Exp: 2033-03-01→ Common Stock (20,737 underlying) - 17,130
Non-qualified Stock Option
[F4]Exercise: $86.17Exp: 2027-03-12→ Common Stock (17,130 underlying) - 14,545
Non-qualified Stock Option
[F4]Exercise: $158.56Exp: 2029-03-15→ Common Stock (14,545 underlying) - 13,884
Non-qualified Stock Option
[F9][F4]Exercise: $337.74Exp: 2032-03-01→ Common Stock (13,884 underlying) - 12,726
Non-qualified Stock Option
[F10]Exercise: $243.54Exp: 2031-03-01→ Common Stock (12,726 underlying) - 12,107
Non-qualified Stock Option
[F11]Exercise: $177.09Exp: 2030-03-15→ Common Stock (12,107 underlying) - 6,928.978
Phantom Stock
[F12][F13]→ Common Stock (6,928.978 underlying)
Footnotes (13)
- [F1]Performance share units (awarded on March 15, 2023) earned and vested as of March 15, 2026.
- [F10]One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- [F11]One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- [F12]Each share of phantom stock represents a right to receive one share of Gallagher common stock.
- [F13]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.
- [F2]The reporting person has no voting or invesment power over these shares and disclaims beneficial ownership.
- [F3]Expiring stock options auto-exercised under the terms of the Long-Term Incentive Plan.
- [F4]One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- [F5]Each notional stock unit represents a right to receive one share of Gallagher common stock.
- [F6]The notional stock units become payable following the reporting person's separation from service with Gallagher.
- [F7]Portions of these notional stock units are payable to the reporting person in shares of common stock in July of 2026, 2028 and 2029 and following the reporting person's separation from service.
- [F8]One-third of this stock option becomes exercisable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
- [F9]Closing price of Gallagher common stock on February 28, 2025.
Signature
/s/ Monica Norzagaray, by power of attorney|2026-03-17