Robert W. Lloyd - May 6, 2021 Form 4 Insider Report for BROWN & BROWN, INC. (BRO)

Role
EVP, Secy, General Counsel
Signature
/s/ Robert W. Lloyd
Stock symbol
BRO
Transactions as of
May 6, 2021
Transactions value $
-$515,344
Form type
4
Date filed
5/7/2021, 05:00 PM
Next filing
Jan 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BRO Common Stock, $.10 par value Sale -$515K -9.63K -23.76% $53.52 30.9K May 6, 2021 Direct F1, F2
holding BRO Common Stock, $.10 par value (2010 SIP) 44K May 6, 2021 Direct F3
holding BRO Common Stock, $.10 par value (PSP) 21K May 6, 2021 Direct F4
holding BRO Common Stock, $10 par value (2019 SIP) 5.28K May 6, 2021 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $53.50 to $53.69, inclusive. The Reporting Person undertakes to provide Brown & Brown, Inc., any security holder of Brown & Brown, inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F2 A total of 696 of these shares were acquired through the Company's Employee Stock Purchase Plan in July 2020. Number of shares may vary due to dividend reinvestment.
F3 These securities were granted pursuant to the Company's 2010 Stock Incentive Plan ("2010 SIP"). The Reporting Person has voting rights and dividend entitlement with respect to these shares, but full ownership will not vest until the satisfaction of service-based conditions.
F4 These securities were granted pursuant to the Company's Performance Stock Plan ("PSP"). Based on the satisfaction of conditions established pursuant to the PSP, the Reporting Person has voting rights and dividend entitlement with respect to these shares based on the satisfaction of certain performance-based criteria, but full ownership will not vest until the satisfaction of additional conditions.
F5 These securities were granted pursuant to the Company's 2019 Stock Incentive Plan ("2019 SIP"). The Reporting Person has voting rights and dividend entitlement with respect to these shares, but full ownership will not vest until the satisfaction of service-based conditions.