Arthur J. Gallagher & Co. (AJG) Form 4 GALLAGHER ARTHUR J & CO / DOUGLAS K HOWELL ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HOWELL DOUGLAS K

(Last) (First) (Middle)

2850 GOLF ROAD

(Street)

ROLLING MEADOWS IL 60008-4002

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GALLAGHER ARTHUR J & CO [ AJG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
VP & Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
05/02/2017

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Notional Stock Units	$0(1)	05/02/2017		I		525		(2)	(2)	Common Stock	525	$55.07	28,290	D
Notional Stock Units	$0(1)	05/02/2017		I		134		(3)	(3)	Common Stock	134	$55.07	17,926	D
Notional Stock Units	$0(1)	05/02/2017		I		9		(4)	(4)	Common Stock	9	$55.07	8,619	D
Notional Stock Units	$0(1)	05/02/2017		I		14		(5)	(5)	Common Stock	14	$55.07	6,856	D
Notional Stock Units	$0(1)	05/02/2017		I		335		(6)	(6)	Common Stock	335	$55.07	68,469	D
Notional Stock Units	$0(1)	05/03/2017		I		313		(2)	(2)	Common Stock	313	$55.01	28,603	D
Notional Stock Units	$0(1)	05/03/2017		I		124		(3)	(3)	Common Stock	124	$55.01	18,050	D
Notional Stock Units	$0(1)	05/03/2017		I		60		(4)	(4)	Common Stock	60	$55.01	8,679	D
Notional Stock Units	$0(1)	05/03/2017		I		48		(5)	(5)	Common Stock	48	$55.01	6,904	D
Notional Stock Units	$0(1)	05/03/2017		I		472		(6)	(6)	Common Stock	472	$55.01	68,941	D

Explanation of Responses:

1. Each notional stock unit represents a right to receive one share of Gallagher common stock.

2. The notional stock units become payable in July 2018.

3. The notional stock units become payable in July 2020.

4. The notional stock units become payable in July 2021.

5. The notional stock units become payable in July 2022.

6. The notional stock units become payable following the reporting person's separation from service with Gallagher.

	/s/ April Hanes-Dowd, by power of attorney	05/04/2017
	** 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).
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