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Arthur J. Gallagher & Co Executive Compensation (FY25)

AJG · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Pat Gallagher
Latest say-on-pay support
=
May 12, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 18, 2026Latest filing (8-K): May 13, 2026
12 filings cited on this page
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337 figures on this page: 328 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
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 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pat Gallagher
Chairman, President and Chief Executive Officer
◇—◇◇◇—◇◇
Tom Gallagher
President – P/C Brokerage
◇—◇◇◇—◇◇
Doug Howell
Chief Financial Officer
◇—◇◇◇—◇◇
Scott Hudson
President – Risk Management
◇—◇◇◇—◇◇
Walt Bay
General Counsel and Secretary
◇—◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pat Gallagher
Chairman and Chief Executive Officer
◇—◇◇◇◇◇◇
Tom Gallagher
Chairman and Chief Executive Officer
◇—◇◇◇◇◇◇
Doug Howell
Chief Financial Officer
◇—◇◇◇◇◇◇
Scott Hudson
President – Risk Management
◇—◇◇◇—◇◇
Walt Bay
General Counsel and Secretary
◇—◇◇◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pat Gallagher
Chief Operating Officer
◇—◇◇◇◇◇◇
Tom Gallagher
Chief Operating Officer
◇—◇◇◇—◇◇
Doug Howell
Chief Financial Officer
◇—◇◇◇◇◇◇
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—◇◇—◇—◇
GallagherPSU◇◇◇—◇—◇
GallagherPSU◇◇◇—◇—◇
Pat GallagherPSU—◇◇—◇—◇
Pat GallagherPSU—◇◇—◇—◇
Tom GallagherPSU—◇◇—◇—◇
Tom GallagherPSU—◇◇—◇—◇
Walt BayPSU—◇◇—◇—◇
Walt BayPSU—◇◇—◇—◇
Fiscal 2022, 2023 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. 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
Patrick GallagherOption◇—◇—
Option◇—◇—
PSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Pat GallagherOption◇—◇—
PSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Tom GallagherOption◇—◇—
Option◇—◇—
PSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Doug HowellOption◇—◇—
PSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Walt BayPSU◇◇——
RSU◇◇——
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
Option◇—◇—
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Doug Howell
Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Excise tax treatment◇
Pat Gallagher
Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Excise tax treatment◇
Patrick Gallagher
Chief Operating Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Tom Gallagher
President · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Excise tax treatment◇
Walt Bay
General Counsel and Secretary · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Excise tax treatment◇

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
◇◇————◇
Teresa Clarke
◇◇————◇
Deborah Caplan
◇◇————◇
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◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as restricted stock units.

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. AMT
  • 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. FI
  • Franklin Resources, Inc. BEN
  • Marsh & McLennan Companies, Inc. MRSH
  • Moody's Corporation MCO
  • Moody’s Corporation symbol not shown
  • 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. THG
  • 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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- Pat Gallagher (Chairman and Chief Executive Officer), FY2025 total compensation $20,745,060 (base salary $1,500,000) [exec_comp, SEC accession 0000354190-26-000101, filed 2026-03-23]

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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.
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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.
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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.
337 figures on this page: 328 cited to the filing that reported them, 9 calculated from figures it prints.
328 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 · Compensation Discussion and Analysis · Director Compensation · and 1 more section
  3. 0001193125-25-119833
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001193125-24-134191
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0000950170-24-035183
    2023 Summary Compensation Table
  6. 0001193125-23-141998
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001193125-23-079740
    2022 Summary Compensation Table
  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, FY2022–FY2025.” https://intel.velarion.ai/comp/AJG (accessed 2026).
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12 filings cited on this page
Method: intel.velarion.ai/methodology
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Published by Velarion Company Intelligence
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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 Financial, Inc.Fidelity National Information Services, Inc.Franklin Resources, Inc.Marsh & McLennan Companies, Inc.Moody's CorporationNorthern Trust CorporationRaymond James Financial, Inc.S&P Global 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

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

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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