P. Barrett Brown - Feb 21, 2022 Form 4 Insider Report for BROWN & BROWN, INC. (BRO)

Role
EVP and Pres.- Retail Segment
Signature
/s/ Anthony M. Robinson, on behalf of P. Barrett Brown, per Power of Attorney
Stock symbol
BRO
Transactions as of
Feb 21, 2022
Transactions value $
$0
Form type
4
Date filed
2/23/2022, 04:00 PM
Previous filing
Jan 3, 2022
Next filing
Feb 28, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BRO Common Stock, $.10 par value (2010 SIP) Award $0 +15.2K +33.69% $0.00 60.5K Feb 21, 2022 Direct F1, F2
transaction BRO Common Stock, $10 par value (2019 SIP) Award $0 +1.89K +5.6% $0.00 35.6K Feb 21, 2022 Direct F3
holding BRO Common Stock, $.10 par value (PSP) 2.16K Feb 21, 2022 Direct F4
holding BRO Common Stock, $.10 par value 10.3K Feb 21, 2022 401k F5
holding BRO Common Stock, $.10 par value 2.32K Feb 21, 2022 Children F6
holding BRO Common Stock, $.10 par value 1.3M Feb 21, 2022 Direct F7
holding BRO Common Stock, $.10 par value 2.38M Feb 21, 2022 Charitable Lead Annuity Trust F8
* 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 2010 Stock Incentive Plan ("2010 SIP"). The initial grant was made on February 25, 2019, but was subject to the satisfaction of performance-based conditions established in connection with this grant. On February 21, 2022, the Company confirmed the satisfaction of the performance-based conditions established in connection with this grant, and the Reporting Person has voting rights and dividend entitlement with respect to these shares, but full ownership will not vest until the satisfaction of additional service-based conditions.
F2 These securities were granted pursuant to the Company's 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 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.
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 December 31, 2021. Number of shares varies periodically based on contributions to plan. Amount reflects the correction of a clerical error in filing made on February 9, 2022 that understated the Reporting Person's holdings by 197 shares.
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.
F8 These shares are held by the James Hyatt Brown Nongrantor Charitable Lead Annuity Trust, of which the Reporting Person is a trustee and a remainder beneficiary.