Jerome Scott Penny - Jan 1, 2022 Form 4 Insider Report for BROWN & BROWN, INC. (BRO)

Role: EVP Chief Acquisitions Officer
Signature: /s/ J. Scott Penny
Stock symbol: BRO
Transactions as of: Jan 1, 2022
Transactions value $: $0
Form type: 4
Date filed: 1/3/2022, 04:00 PM
Next filing: Feb 23, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BRO	Common Stock, $10 par value (2019 SIP)	Award	$0	+28.5K	+538.75%	$0.00	33.7K	Jan 1, 2022	Direct	F1
holding	BRO	Common Stock, $.10 par value (2010 SIP)						45.3K	Jan 1, 2022	Direct	F2
holding	BRO	Common Stock, $.10 par value (Jointly Owned)						357K	Jan 1, 2022	Direct	F3
holding	BRO	Common Stock, $.10 par value (PSP)						34.6K	Jan 1, 2022	Direct	F4
holding	BRO	Common Stock, $10 par value						19.3K	Jan 1, 2022	By 401k	F5
holding	BRO	Common Stock, $10 par value						192	Jan 1, 2022	Children	F6
holding	BRO	Common Stock, $10 par value						189K	Jan 1, 2022	Direct	F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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.
F2	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.
F3	Owned jointly with spouse.
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	Based upon information supplied by the plan record keeper as of June 30, 2021. Number of shares varies periodically based on contributions to plan.
F6	Reporting person disclaims beneficial ownership of securities owned by children who share the Reporting person's household. This report shall not be deemed an admission that the Reporting Person is the beneficial owner of such securities for the purpose of Section 16 or for any other purpose.
F7	A total of 549 of these shares were acquired through the Company's Employee Stock Purchase Plan in July 2021. Number of shares may vary due to dividend reinvestment.