P. Barrett Brown - Feb 24, 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 24, 2022
Transactions value $: -$656,559
Form type: 4
Date filed: 2/28/2022, 04:10 PM
Previous filing: Feb 23, 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	-$657K	-10.2K	-0.77%	$64.23	1.32M	Feb 24, 2022	Direct	F1, F2
holding	BRO	Common Stock, $.10 par value (2010 SIP)						37.8K	Feb 24, 2022	Direct	F3
holding	BRO	Common Stock, $10 par value (2019 SIP)						35.6K	Feb 24, 2022	Direct	F4
holding	BRO	Common Stock, $.10 par value (PSP)						2.16K	Feb 24, 2022	Direct	F5
holding	BRO	Common Stock, $.10 par value						10.3K	Feb 24, 2022	401k	F6
holding	BRO	Common Stock, $.10 par value						2.32K	Feb 24, 2022	Children	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 22,663 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	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.
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	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.
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.