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Arthur J. Gallagher & Co Executive Compensation (FY25)

AJG · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): May 13, 2026
262 figures on this page: 253 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
Total compensation for Pat Gallagher, Chairman and Chief Executive Officer, came to $20,745,060 in fiscal 2025, and Gallagher's total was 18.9% higher than the $17,449,043 reported for fiscal 2024. The disclosed chief executive pay ratio for fiscal 2025 is 346:1, against median employee compensation of $59,957. For fiscal 2025, shareholders backed the say-on-pay proposal with 91.7% of votes cast including abstentions in favor at the meeting held May 12, 2026. The disclosed peer group includes American International Group, Inc., Aon plc, Automatic Data Processing, Inc., Brown & Brown, Inc. and Chubb Limited, among others.
Chief executive, fiscal 2025
◇
Pat Gallagher
Latest say-on-pay support
=
May 12, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Pat Gallagher: $17,449,043 → $20,745,060 (18.9% higher)
Say-on-pay support: 91.2% → 91.7% (0.5 points higher)
CEO pay ratio: 300:1 → 346:1 (15.3% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Arthur J. Gallagher & Co's chief executive and what were they paid?
Total compensation for Pat Gallagher, Chairman and Chief Executive Officer, came to $20,745,060 in fiscal 2025. Gallagher's total was 18.9% higher than the $17,449,043 reported for fiscal 2024.
What was Arthur J. Gallagher & Co's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 91.7% of votes cast including abstentions in favor at the meeting held May 12, 2026.
Which companies are in Arthur J. Gallagher & Co's peer group?
The disclosed peer group includes American International Group, Inc., Aon plc, Automatic Data Processing, Inc., Brown & Brown, Inc. and Chubb Limited, among others.
What is Arthur J. Gallagher & Co's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 346:1, against median employee compensation of $59,957.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pat Gallagher
Chairman and Chief Executive Officer
◇—◇◇◇◇◇◇
Doug Howell
Chief Financial Officer
◇—◇◇◇◇◇◇
Walt Bay
General Counsel and Secretary
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pat Gallagher
Chairman and Chief Executive Officer
◇—◇◇◇◇◇◇
Doug Howell
Chief Financial Officer
◇—◇◇◇◇◇◇
Tom Gallagher
President
◇—◇◇◇—◇— not reconciled
Patrick Gallagher
Chief Operating Officer
◇—◇◇◇—◇◇
Walt Bay
General Counsel and Secretary
◇—◇◇◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pat Gallagher
Chairman and Chief Executive Officer
◇—◇◇◇◇◇◇
Doug Howell
Chief Financial Officer
◇◇◇◇◇◇◇◇
Tom Gallagher
President
◇◇◇◇◇◇◇◇
Patrick Gallagher
Chief Operating Officer
◇◇◇◇◇—◇◇
Walt Bay
General Counsel and Secretary
◇◇◇◇◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Doug HowellPSU—◇◇—◇—◇
Doug HowellPSU—◇◇—◇—◇
Pat GallagherPSU—◇◇—◇—◇
Pat GallagherPSU—◇◇—◇—◇
Tom GallagherPSU—◇◇—◇—◇
Tom GallagherPSU—◇◇—◇—◇
Walt BayPSU—◇◇—◇—◇
Walt BayPSU—◇◇—◇—◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Doug HowellPSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Patrick GallagherPSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
Pat GallagherOption◇—◇—
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
PSU◇◇——
Tom GallagherOption◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
RSU◇◇——
PSU◇◇——
Walt BayOption◇—◇—
Option◇—◇—
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David Johnson
Lead independent director
◇◇————◇
Ralph Nicoletti
◇◇————◇
Sherry Barrat
◇◇———◇◇
Norman Rosenthal
◇◇————◇
Chris Miskel
◇◇————◇
Deborah Caplan
◇◇————◇
Teresa Clarke
◇◇————◇
Richard Harries
◇◇————◇
John Coldman
◇◇————◇
Pat Gallagher served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5x cash retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • American International Group, Inc. AIG
  • Aon plc AON
  • Automatic Data Processing, Inc. ADP
  • Brown & Brown, Inc. BRO
  • Chubb Limited CB
  • Fidelity National Financial, Inc. FNF
  • Fidelity National Information Services, Inc. FIS
  • Fiserv, Inc. FISV
  • Franklin Resources, Inc. BEN
  • Marsh & McLennan Companies, Inc. MRSH
  • Moody's Corporation MCO
  • Northern Trust Corporation NTRS
  • Raymond James Financial, Inc. RJF
  • S&P Global Inc. SPGI
  • State Street Corporation STT
  • The Bank of New York Mellon Corporation BNY
  • The Charles Schwab Corporation SCHW
  • The Hartford Insurance Group, Inc. HIG
  • The Travelers Companies, Inc. TRV
  • Willis Towers Watson plc WTW

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 12, 2026=◇◇◇
2024May 13, 2025=◇◇◇
2023May 7, 2024=◇◇◇
2022May 9, 2023=◇◇◇
2021May 10, 2022=◇◇◇
2020May 11, 2021=◇◇◇
2019May 12, 2020=◇◇◇
2018May 14, 2019=◇◇◇
2017May 15, 2018=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Arthur J. Gallagher & Co disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Arthur J. Gallagher & Co sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
262 figures on this page: 253 cited to the filing that reported them, 9 calculated from figures it prints.
253 cited to the filing
9 calculated from the filing

Documents cited

  1. 0000354190-26-000142
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0000354190-26-000101
    2025 Summary Compensation Table · CEO Pay Ratio · Director Compensation · Grants of Plan-Based Awards · and 1 more section
  3. 0001193125-25-119833
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0000950170-25-043725
    Summary Compensation Table
  5. 0001193125-24-134191
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0000950170-24-035183
    Summary Compensation Table
  7. 0001193125-23-141998
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001193125-22-150052
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001193125-21-163780
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001193125-20-140436
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001193125-19-146654
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001193125-18-163798
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “Arthur J. Gallagher & Co executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/AJG (accessed 2026).
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Insurance rankings

Chief executive pay — InsuranceCEO pay ratio — InsuranceSay-on-pay support — Insurance

Peers Arthur J. Gallagher & Co discloses

The companies named in AJG's own disclosed peer group.

American International Group, Inc.Aon plcAutomatic Data Processing, Inc.Brown & Brown, Inc.Chubb LimitedFidelity National Information Services, Inc.Franklin Resources, Inc.Marsh & McLennan Companies, Inc.Northern Trust CorporationRaymond James Financial, Inc.State Street CorporationThe Bank of New York Mellon CorporationThe Charles Schwab CorporationThe Hartford Insurance Group, Inc.The Travelers Companies, Inc.Willis Towers Watson plc

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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