J. Patrick Gallagher, Jr.

Chairman of the Board and Chief Executive Officer at Arthur J. Gallagher & Co.

Board

Since 1995

Age

72 years

Tenure

Joined AJG in 1974 as a Production Account Executive, served as Vice President of Operations from 1985 to 1990, then as President and Chief Operating Officer from 1990 to 1995, and has been the Chief Executive Officer since 1995 with an appointment as Chairman of the Board in 2006.

Also at Arthur J. Gallagher & Co.

CEM

Christopher E. Mead

Corporate Vice President and Chief Marketing Officer

DKH

Douglas K. Howell

Vice President and Chief Financial Officer

JDC

Joel D. Cavaness

Chairman, Americas Specialty (Wholesale Brokerage)

About

J. Patrick Gallagher, Jr. is a seasoned executive with a proven track record in the insurance industry. He is currently 72 years old and has dedicated nearly five decades of his career to Arthur J. Gallagher & Co., demonstrating longstanding commitment and deep industry knowledge.

Beginning his career at AJG in 1974 as a Production Account Executive, he steadily climbed the corporate ladder. He was promoted to Vice President of Operations from 1985 to 1990, then served as President and Chief Operating Officer from 1990 to 1995, and eventually took on the role of Chief Executive Officer in 1995, later adding the title of Chairman of the Board in 2006.

His extensive tenure at AJG, which spans over 49 years of service, reflects his significant contributions to the company’s strategic growth and industry leadership. Over the years, his diverse roles and progressive leadership have provided him with a unique perspective, positioning him as a pivotal figure in both the company and the broader insurance market.

$AJG Performance Under J. Patrick Gallagher, Jr.

Past Roles

Organization (Unit: N/A)	Role (Unit: N/A)	Date Range (Unit: N/A)	Details (Unit: N/A)
Arthur J. Gallagher & Co.	President	1990 - 2024
InnerWorkings, Inc.	Board of Directors	2011 - 2019	Member of compensation and nominating/governance committees
Arthur J. Gallagher & Co.	President and Chief Operating Officer	1990 - 1995
Arthur J. Gallagher & Co.	Vice President of Operations	1985 - 1990
Arthur J. Gallagher & Co.	Production Account Executive	Starting 1974

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,300,000	Annual	Fixed base salary
Deferred Equity Participation Plan (DEPP) Awards	$2,250,000	Annual	Equity award under DEPP
Supplemental Savings and Thrift Plan (SS&T Plan) Match	$341,000	Annual	Contribution match
401(k) Match	$16,500	Annual	401(k) matching contribution
Corporate Auto & Insurance	$8,664	Annual	Benefit for auto and insurance provided by the company
Private Aircraft Usage	$186,448	As Incurred	Compensation for private aircraft usage
Other Compensation	$129,496	Annual	Additional fixed compensation

Performance Compensation

Data from FY 2023

Performance Share Units (PSUs)

Metric	Details
Performance Metric	Average annual growth in adjusted EBITDAC per share over 2023-2025
Threshold	Growth less than 4% results in forfeiture
Target	Growth between 4% and 9% yields earning on a straight-line basis from 50% to 100% of target
Maximum	Growth between 9% and 14% yields 100%-200% (capped at 200% for growth of 14% or above)
Target Number of PSUs	22,524
Maximum Number of PSUs	45,048
Vesting Date	March 15, 2026
Grant Date	March 15, 2023
Grant Date Fair Value	$3,988,775
Evaluation Period	2023-2025

Stock Options

Metric	Details
Number of Options	30,029
Exercise Price	$177.09 per share
Vesting Schedule	One-third vesting on each of the third (March 15, 2026), fourth (March 15, 2027), and fifth (March 15, 2028) anniversaries of the grant date
Grant Date	March 15, 2023
Grant Date Fair Value	$1,388,841

Non-Equity Incentive Plan

Metric	Details
Annual Cash Incentive	$5,850,000 (200% of target award)
Performance Criteria	Performance metrics are not explicitly detailed; awards subject to criteria and Committee discretion

These tables summarize the performance compensation components, including required performance metrics, thresholds, targets, vesting schedules, evaluation period, and associated dollar values and share quantities where available.