Underwriting Agreement - Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 27, 2023

ARTHUR J. GALLAGHER & CO.

(Exact name of registrant as specified in its charter)

Delaware		1-09761		36-2151613
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification Number)

2850 W. Golf Road, Rolling Meadows, Illinois		60008-4050
(Address of principal executive offices)		(Zip Code)

Registrant's telephone number, including area code: (630)773-3800

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-Kfiling is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencementcommunications pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencementcommunications pursuant to Rule 13e-4(c)under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $1.00 par value		AJG		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2of the Securities Exchange Act of 1934 (§240.12b-2of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01.

Other Events.

On February 27, 2023, Arthur J. Gallagher & Co. (the "Company") entered into an underwriting agreement (the "Underwriting Agreement") with BofA Securities, Inc. and Citigroup Global Markets Inc., as representatives of the underwriters named in Schedule A thereto (the "Underwriters"), with respect to the offering and sale of $350 million aggregate principal amount of its 5.500% Senior Notes due 2033 (the "2033 Notes") and $600 million aggregate principal amount of its 5.750% Senior Notes due 2053 ("2053 Notes," and together with the 2033 Notes, the "Notes"). The Underwriting Agreement is filed herewith as Exhibit 1.1. As a result of interest rate hedging arrangements entered into by the Company, the net interest expense shown in the Company's financials will reflect a rate of approximately 4.0% and 4.8%, for the 2033 and 2053 Notes, respectively (for the 2053 Notes, this is applicable for the first 10 years following issuance).

The Notes offering has been registered under the Securities Act of 1933, as amended, pursuant to a shelf registration statement on Form S-3,file no. 333-254015(the "Registration Statement"), filed with the U.S. Securities and Exchange Commission (the "SEC"). The Notes will be issued pursuant to an indenture, dated as of May 20, 2021 (the "Indenture"), between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee"), as modified and supplemented in respect of the Notes by an Officers' Certificate pursuant to the Indenture, dated as of March 2, 2023 (the "Officers' Certificate"). The relevant terms of the Notes, the Indenture and the Officers' Certificate are further described under the caption "Description of Notes" in the prospectus supplement dated February 27, 2023, filed with the SEC by the Company on February 28, 2023. This description is incorporated in this Item 8.01 by reference. The Notes offering is expected to close on March 2, 2023.

The Officers' Certificate (including the forms of the Notes) is filed as an exhibit to this Current Report on Form 8-Kand incorporated herein by reference. The description of the Officers' Certificate (including the forms of the Notes) in this Current Report on Form 8-Kis a summary and is qualified in its entirety by the terms of the Officers' Certificate (including the form of the Notes). The Company is filing this Current Report on Form 8-Kin order to file with the SEC certain items that are to be incorporated by reference into the Registration Statement. The opinion of Gibson, Dunn & Crutcher LLP relating to the validity of the Notes is filed herewith as Exhibit 5.1.

Item 9.01

Financial Statements and Exhibits.

1.1		Underwriting Agreement, dated February 27, 2023, by and among the Company and BofA Securities, Inc. and Citigroup Global Markets Inc., as representatives of the underwriters named in Schedule A thereto.
4.1		Officers' Certificate of the Company pursuant to the Indenture, dated as of March 2, 2023.
4.2		Form of 5.500% Senior Notes due 2033 (included in Exhibit 4.1).
4.3		Forms of 5.750% Senior Notes due 2053 (included in Exhibit 4.1).
5.1		Opinion of Gibson, Dunn & Crutcher LLP, dated March 2, 2023.
23.1		Consent of Gibson, Dunn & Crutcher LLP (included in Exhibit 5.1).
104		The cover page from this Current Report on Form 8-K,formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			Arthur J. Gallagher & Co.
Date: March 2, 2023.				/s/ WALTER D. BAY
			Walter D. Bay
			Vice President, General Counsel and Secretary