J. Powell Brown - Feb 24, 2022 Form 4 Insider Report for BROWN & BROWN, INC. (BRO)

Signature
/s/ R. Andrew Watts, for J. Powell Brown, per Power of Attorney
Stock symbol
BRO
Transactions as of
Feb 24, 2022
Transactions value $
-$2,864,144
Form type
4
Date filed
2/28/2022, 04:01 PM
Previous filing
Feb 22, 2022
Next filing
Feb 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BRO Common Stock, $.10 par value Tax liability -$2.86M -44.6K -1.69% $64.23 2.59M Feb 24, 2022 Direct F1, F2
holding BRO Common Stock, $.10 par value (2010 SIP) 526K Feb 24, 2022 Direct F3
holding BRO Common Stock, $10 par value (2019 SIP) 43K Feb 24, 2022 Direct F4
holding BRO Common Stock, $.10 par value 30.6K Feb 24, 2022 Children F5
holding BRO Common Stock, $.10 par value 41.4K Feb 24, 2022 401k F6
holding BRO Common Stock, $.10 par value (PSP) 71K Feb 24, 2022 Direct F7
holding BRO Common Stock, $.10 par value 2.38M Feb 24, 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 Shares were withheld by the Company solely to cover the income tax withholding requirements associated with the vesting of 113,320 shares of stock under the Company's 2010 Stock Incentive Plan ("2010 SIP").
F2 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.
F3 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.
F4 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.
F5 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.
F6 Based upon information supplied by the plan record keeper as of December 31, 2021. Number of shares varies periodically based on contributions to plan.
F7 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.
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.