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Form 3 Arthur J. Gallagher & For: May 10 Filed by: Gallagher Patrick Murphy

May 20, 2022 6:54 PM EDT
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
Gallagher Patrick Murphy

(Last) (First) (Middle)
2850 GOLF ROAD

(Street)
ROLLING MEADOWS IL 60008

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
05/10/2022
3. Issuer Name and Ticker or Trading Symbol
Arthur J. Gallagher & Co. [ AJG ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Vice President
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 21,602
D
 
Common Stock (restricted) 6,580
D
 
Common Stock 80,891
I
By Trust (1)
Common Stock 54,928
I
By Irrevocable Trust
Common Stock 18,168
I
By Trust (2)
Common Stock 8,152
I
By Spouse as Trustee (3)
Common Stock 7,618
I
By Spouse's Trust (4)
Common Stock 182
I
Gallagher 401(k) plan account
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock   (5)   (5) Common Stock 10,935 (6) D  
Phantom Stock   (7)   (7) Common Stock 3,659 (6) D  
Non-qualified Stock Option   (8) (9) 03/17/2023 Common Stock 9,900 43.71 D  
Non-qualified Stock Option   (9) (10) 03/16/2024 Common Stock 7,400 56.86 D  
Non-qualified Stock Option   (9) (11) 03/15/2025 Common Stock 5,250 70.74 D  
Non-qualified Stock Option   (9) (12) 03/14/2026 Common Stock 5,000 79.59 D  
Non-qualified Stock Option   (9) (13) 03/12/2027 Common Stock 6,270 86.17 D  
Non-qualified Stock Option   (9) (14) 03/16/2028 Common Stock 7,255 127.9 D  
Non-qualified Stock Option   (9) (15) 03/15/2029 Common Stock 5,510 158.56 D  
Explanation of Responses:
1. Shares held in trust for the benefit of the reporting person's children, of which he is a trustee.
2. Shares held in trust for the benefit of the reporting person's children, of which he is a trustee.
3. Shares held in trusts, for the benefit of the reporting person's children, of which his wife is sole trustee.
4. Shares held in revocable trust of which the reporting person's spouse is sole Trustee and as to which he disclaims beneficial ownership.
5. 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.
6. Each share of phantom stock represents a right to receive one share of Gallagher common stock.
7. These shares represent awards under the Deferred Cash Participation Plan, a nonqualified deferred compensation plan of the Company, which have been deemed invested in Company common stock at the election of the participant. These awards are payable in a lump sum on the six-month anniversary of the reporting person's separation from service.
8. Grant date of 3/17/2016.
9. One-third of this stock option becomes exerciseable on each of the 3rd, 4th, and 5th anniversaries of the grant date.
10. Grant date of 3/16/2017.
11. Grant date of 3/15/2018.
12. Grant date of 3/14/2019.
13. Grant date of 3/12/2020.
14. Grant date of 3/16/2021.
15. Grant date of 3/15/2022.
/s/ Seth Diehl, by power of attorney 05/20/2022
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
POWER OF ATTORNEY

Know all by these presents, that the undersigned hereby constitutes and
appoints each of Walter D. Bay, Richard C. Cary, Seth Diehl and Ryan
Session his true and lawful attorney-in-fact to:

1. execute and file for and on behalf of the undersigned the Form ID
Uniform Application for Access Codes to File on EDGAR;
2. execute for and on behalf of the undersigned Forms 3, 4, and 5 in
accordance with Section 16(a) of the Securities Exchange Act of 1934 and the
rules thereunder;
3. do and perform any and all acts for and on behalf of the undersigned which
may be necessary or desirable to complete and execute any such Form 3, 4,
or 5, complete and execute any amendment or amendments thereto, and timely
file such form with the United States Securities and Exchange Commission and
any other authority; and
4. take any other action of any type whatsoever in connection with the
foregoing which, in the opinion of such attorney-in-fact, may be of benefit
to, in the best interest of, or legally required by, the undersigned, it being
understood that the documents executed by such attorney-in-fact on behalf of
the undersigned pursuant to this Power of Attorney shall be in such form and
shall contain such terms and conditions as such attorney-in-fact may approve
in his or her discretion.
   The undersigned hereby grants to each such attorney-in-fact full power and
authority to do and perform any and every act and thing whatsoever requisite,
necessary, or proper to be done in the exercise of any of the rights and
powers herein granted, as fully to all intents and purposes as the undersigned
might or could do if personally present, with full power of substitution or
revocation, hereby ratifying and confirming all that such attorney-in-fact, or
his or her substitute or substitutes, shall lawfully do or cause to be done by
virtue of this power of attorney and the rights and powers herein granted.
The undersigned acknowledges that the foregoing attorneys-in-fact, in serving
in such capacity at the request of the undersigned, are not assuming any of
the undersigned's responsibilities to comply with Section 16 of the Securities
Exchange Act of 1934.
   This Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file Forms 3, 4, and 5 with respect to
his holdings of and transactions in securities issued by
Arthur J. Gallagher & Co., unless earlier revoked by the undersigned in a
signed writing delivered to the foregoing attorneys-in-fact.
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be
executed as of this 10 day of May, 2022.

___/s/ Patrick M. Gallagher_____________________
                 Signature

_Patrick M. Gallagher___________



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