X0306 4 2014-12-12 0000354190 GALLAGHER ARTHUR J & CO AJG 0001186002 DURKIN JAMES W JR ARTHUR J. GALLAGHER & CO. TWO PIERCE PLACE ITASCA IL 60143 1 Vice President Common Stock 2014-12-12 4 M 0 374 0 A 292461.881 D Common Stock 2014-12-12 4 F 0 374 47.89 D 292087.881 D Phantom Stock 2014-12-12 4 M 0 374 0 D Common Stock 374 138258 D Each share of phantom stock represents a right to receive one share of Gallagher common stock. 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. This Form 4 is being filed to reflect an accelerated distribution under the Age 62 Plan to cover applicable taxes in connection with vesting. The remainder of the reporting person's Age 62 Plan holdings are scheduled to be distributed at separation from service. /s/ April Hanes-Dowd, by power of attorney 2014-12-12