On March 14, 2024, Arthur J. Gallagher entered into an equity distribution agreement with Morgan Stanley & Co. LLC, under which the company may sell up to 3,000,000 shares of common stock at par value of $1.00 per share in at-the-market offerings from time to time.

1. 01

   On March 14, 2024, Arthur J. Gallagher entered into an equity distribution agreement with Morgan Stanley & Co. LLC, under which the company may sell up to 3,000,000 shares of common stock at par value of $1.00 per share in at-the-market offerings from time to time.

2. 02

   The company said the agreement replaces and extends its prior equity distribution agreement, under which no sales were made, and that it moved the at-the-market program to the Form S-3ASR shelf registration statement filed on February 12, 2024. It said there were no other changes to the program.

3. 03

   The company said shares will be sold at prevailing market prices at the time of sale or on terms agreed with Morgan Stanley, and that Morgan Stanley's commission will not exceed 1.25% of the gross sales price of all shares sold.

4. 04

   The company said it is not obligated to sell any shares under the agreement, and Morgan Stanley is not obligated to buy or sell any shares. It said it cannot give any assurance whether it will sell shares or as to the price, amount or timing of any sales. The company agreed to indemnify Morgan Stanley against certain liabilities, including under the Securities Act.

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Original filing

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