Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOWELL DOUGLAS K
   2. Issuer Name and Ticker or Trading Symbol
GALLAGHER ARTHUR J & CO [AJG] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP & Chief Financial Officer
(Last)
(First)
(Middle)
2850 GOLF ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
08/02/2017
(Street)

ROLLING MEADOWS, IL 60008-4002		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Notional Stock Units $ 0 (1) 08/02/2017   I   191     (2)   (2) Common Stock 191 $ 59.02 28,794 D  
Notional Stock Units $ 0 (1) 08/02/2017   I   137     (3)   (3) Common Stock 137 $ 59.02 18,187 D  
Notional Stock Units $ 0 (1) 08/02/2017   I   58     (4)   (4) Common Stock 58 $ 59.02 8,737 D  
Notional Stock Units $ 0 (1) 08/02/2017   I   46     (5)   (5) Common Stock 46 $ 59.02 6,950 D  
Notional Stock Units $ 0 (1) 08/02/2017   I   457     (6)   (6) Common Stock 457 $ 59.02 69,398 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOWELL DOUGLAS K
2850 GOLF ROAD
ROLLING MEADOWS, IL 60008-4002		       VP & Chief Financial Officer  

Signatures

 /s/ April Hanes-Dowd, by power of attorney   08/04/2017
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Each notional stock unit represents a right to receive one share of Gallagher common stock.
(2) The notional stock units become payable in July 2018.
(3) The notional stock units become payable in July 2020.
(4) The notional stock units become payable in July 2021.
(5) The notional stock units become payable in July 2022.
(6) The notional stock units become payable following the reporting person's separation from service with Gallagher.

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