What the executives and directors of Arthur J. Gallagher & Co. actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| GALLAGHER THOMAS JOSEPH President | Officer | 443.2K | — | — |
| GALLAGHER J PATRICK JR CEO | CEO | 379.6K | — | $6.3M |
| Cavaness Joel D Vice President | Officer | 162.1K | — | — |
| Bay Walter D. General Counsel | Officer | 116.7K | — | $4M |
| Hudson Scott R Vice President | Officer | 113.3K | — | $4.7M |
| Gallagher Patrick Murphy Chief Operating Officer | COO | 112.2K | — | — |
| HOWELL DOUGLAS K VP & Chief Financial Officer | CFO | 110K | — | $6.4M |
| CARY RICHARD C Controller, CAO | Officer | 90.2K | — | $3.4M |
| Jain Vishal VICE PRESIDENT | Officer | 68.9K | — | — |
| Ziebell William F VICE PRESIDENT | Officer | 48.7K | — | — |
| JOHNSON DAVID S | Director | 47.4K | — | — |
| Pesch Michael Robert Vice President | Officer | 44.9K | $988K | — |
| ROSENTHAL NORMAN L | Director | 43.3K | — | — |
| Mead Christopher E VICE PRESIDENT | Officer | 22.1K | — | $2.3M |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-02 | CARY RICHARD C (Officer) | Discretionary sale | 3,000 | $206.00 | $618K |
| 2026-03-06 | Hudson Scott R (Officer) | Discretionary sale | 3,800 | $227.57 | $865K |
| 2026-03-05 | Mead Christopher E (Officer) | Discretionary sale | 4,000 | $227.12 | $908K |
| 2026-03-02 | GALLAGHER J PATRICK JR (CEO) | Discretionary sale | 27.5K | $230.31 | $6.3M |
| 2025-12-23 | Mead Christopher E (Officer) | Discretionary sale | 4,000 | $258.11 | $1M |
| 2025-12-22 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 5,000 | $258.05 | $1.3M |
| 2025-12-19 | Bay Walter D. (Officer) | Discretionary sale | 15.9K | $255.00 | $4M |
| 2025-11-21 | Mead Christopher E (Officer) | Discretionary sale | 1,250 | $250.74 | $313K |
| 2025-11-18 | CARY RICHARD C (Officer) | Discretionary sale | 6,000 | $261.00 | $1.6M |
| 2025-11-03 | Pesch Michael Robert (Officer) | Open-market buy | 538 | $245.85 | $132K |
| 2025-11-03 | Pesch Michael Robert (Officer) | Open-market buy | 599 | $248.72 | $149K |
| 2025-11-03 | Pesch Michael Robert (Officer) | Open-market buy | 989 | $247.42 | $245K |
| 2025-11-03 | Pesch Michael Robert (Officer) | Open-market buy | 1,874 | $246.82 | $463K |
| 2025-09-22 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 2,100 | $299.84 | $630K |
| 2025-09-22 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 5,900 | $299.44 | $1.8M |
| 2025-09-19 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 2,600 | $298.69 | $777K |
| 2025-09-19 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 3,400 | $299.71 | $1M |
| 2025-09-09 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 3,000 | $299.78 | $899K |
| 2025-09-08 | Hudson Scott R (Officer) | Discretionary sale | 5,255 | $297.73 | $1.6M |
| 2025-09-08 | Hudson Scott R (Officer) | Discretionary sale | 7,600 | $297.51 | $2.3M |
| 2025-08-21 | CARY RICHARD C (Officer) | Discretionary sale | 4,000 | $306.00 | $1.2M |
| 2025-06-18 | Pesch Michael Robert (Officer) | Open-market buy | 59 | $318.37 | $19K |
| 2025-05-21 | Hudson Scott R (Officer) | Discretionary sale | 10.5K | $337.17 | $3.5M |
| 2025-05-19 | Pietrucha Susan E (Officer) | Discretionary sale | 13.5K | $344.13 | $4.6M |
| 2025-05-16 | JOHNSON DAVID S (Director) | Discretionary sale | 1,000 | $342.04 | $342K |
| 2025-05-07 | CARY RICHARD C (Officer) | Discretionary sale | 12K | $339.51 | $4.1M |
| 2025-03-21 | Hudson Scott R (Officer) | Discretionary sale | 7,510 | $333.59 | $2.5M |
| 2025-02-27 | Gallagher Patrick Murphy (COO) | Discretionary sale | 2,613 | $332.52 | $869K |
| 2025-02-18 | Ziebell William F (Officer) | Discretionary sale | 7,049 | $324.41 | $2.3M |
| 2025-02-13 | Bay Walter D. (Officer) | Discretionary sale | 10K | $326.62 | $3.3M |
| 2025-02-12 | JOHNSON DAVID S (Director) | Discretionary sale | 325 | $322.06 | $105K |
| 2025-02-10 | CARY RICHARD C (Officer) | Discretionary sale | 500 | $324.63 | $162K |
| 2025-02-10 | CARY RICHARD C (Officer) | Discretionary sale | 1,400 | $321.03 | $449K |
| 2025-02-10 | CARY RICHARD C (Officer) | Discretionary sale | 1,907 | $322.95 | $616K |
| 2025-02-10 | CARY RICHARD C (Officer) | Discretionary sale | 2,270 | $321.91 | $731K |
| 2025-02-10 | CARY RICHARD C (Officer) | Discretionary sale | 3,923 | $324.12 | $1.3M |
| 2025-02-03 | BARRAT SHERRY S (Director) | Discretionary sale | 2,500 | $304.33 | $761K |
| 2025-02-03 | Hudson Scott R (Officer) | Discretionary sale | 23K | $306.59 | $7.1M |
| 2025-02-03 | Mead Christopher E (Officer) | Discretionary sale | 2,900 | $302.61 | $878K |
| 2024-12-23 | Gallagher Patrick Murphy (COO) | Open-market buy | 1,115 | $284.14 | $317K |
| 2024-11-08 | BARRAT SHERRY S (Director) | Discretionary sale | 878 | $294.65 | $259K |
| 2024-10-28 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 7,000 | $284.70 | $2M |
| 2024-10-28 | Mead Christopher E (Officer) | Discretionary sale | 2,800 | $287.00 | $804K |
| 2024-09-19 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 7,000 | $284.68 | $2M |
| 2024-09-13 | Pesch Michael Robert (Officer) | Discretionary sale | 7,100 | $296.20 | $2.1M |
| 2024-08-08 | GALLAGHER THOMAS JOSEPH (Officer) | Discretionary sale | 15K | $282.96 | $4.2M |
| 2024-08-01 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 8,710 | $285.07 | $2.5M |
| 2024-07-30 | Bay Walter D. (Officer) | Discretionary sale | 6,335 | $284.06 | $1.8M |
| 2024-06-18 | Bay Walter D. (Officer) | Discretionary sale | 8,303 | $262.74 | $2.2M |
| 2024-06-18 | Hudson Scott R (Officer) | Discretionary sale | 10K | $263.45 | $2.6M |
| 2024-05-22 | JOHNSON DAVID S (Director) | Discretionary sale | 850 | $257.84 | $219K |
| 2024-05-20 | Bay Walter D. (Officer) | Discretionary sale | 800 | $257.24 | $206K |
| 2024-05-17 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 5,100 | $257.04 | $1.3M |
| 2024-05-17 | Bay Walter D. (Officer) | Discretionary sale | 386 | $258.11 | $100K |
| 2024-05-17 | Bay Walter D. (Officer) | Discretionary sale | 3,863 | $256.27 | $990K |
| 2024-05-17 | Bay Walter D. (Officer) | Discretionary sale | 4,468 | $257.53 | $1.2M |
| 2024-05-16 | CARY RICHARD C (Officer) | Discretionary sale | 3,395 | $254.00 | $862K |
| 2024-05-16 | Bay Walter D. (Officer) | Discretionary sale | 7,283 | $256.04 | $1.9M |
| 2024-05-16 | Bay Walter D. (Officer) | Discretionary sale | 7,576 | $253.00 | $1.9M |
| 2024-05-10 | HOWELL DOUGLAS K (CFO) | Discretionary sale | 2,008 | $250.36 | $503K |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.