Theodore J. Hoepner - 04 Nov 2022 Form 4 Insider Report for BROWN & BROWN, INC. (BRO)

Role: Director
Signature: /s/ Theodore J. Hoepner
Issuer symbol: BRO
Transactions as of: 04 Nov 2022
Net transactions value: -$2,515,050
Form type: 4
Filing time: 07 Nov 2022, 16:00:11 UTC
Previous filing: 04 May 2022
Next filing: 03 May 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BRO	Common Stock, $.10 par value	Gift	$0	-5,000	-4.3%	$0.000000	110,228	04 Nov 2022	Direct
transaction	BRO	Common Stock, $.10 par value	Other	$1,257,525	-22,500	-20%	$55.89	87,728	04 Nov 2022	Direct	F1
transaction	BRO	Common Stock, $.10 par value	Other	$1,257,525	-22,500	-26%	$55.89	65,228	04 Nov 2022	Direct	F2
transaction	BRO	Common Stock, $.10 par value	Gift	$0	+2,500	+11%	$0.000000	25,000	04 Nov 2022	Irrevocable Trust	F1
transaction	BRO	Common Stock, $.10 par value	Gift	$0	+2,500	+11%	$0.000000	25,000	04 Nov 2022	Irrevocable Trust	F2

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

Explanation of Responses:

Id	Content
F1	On November 3, 2022, in accordance with the Reporting Person's tax planning strategy, the Reporting Person transferred 22,500 shares to an irrevocable trust, of which the Reporting Person's spouse is the sole trustee and the Reporting Person's son and the Reporting Person's son's descendants are the beneficiaries, in exchange for a promissory note payable to the Reporting Person in the principal amount of $1,257,525. The transfer resulted in a decrease in the number of shares the Reporting Person beneficially owns directly and a corresponding increase in the number of shares the Reporting Person beneficially owns indirectly through the irrevocable trust. The Reporting Person believes this transfer constitutes a change in form of beneficial ownership of the shares, exempted by Rule 16a-13 under the Securities Exchange Act of 1934.
F2	On November 3, 2022, in accordance with the Reporting Person's tax planning strategy, the Reporting Person transferred 22,500 shares to an irrevocable trust, of which the Reporting Person's spouse is the sole trustee and the Reporting Person's daughter and the Reporting Person's daughter's descendants are the beneficiaries, in exchange for a promissory note payable to the Reporting Person in the principal amount of $1,257,525. The transfer resulted in a decrease in the number of shares the Reporting Person beneficially owns directly and a corresponding increase in the number of shares the Reporting Person beneficially owns indirectly through the irrevocable trust. The Reporting Person believes this transfer constitutes a change in form of beneficial ownership of the shares, exempted by Rule 16a-13 under the Securities Exchange Act of 1934.

Content

On November 3, 2022, in accordance with the Reporting Person's tax planning strategy, the Reporting Person transferred 22,500 shares to an irrevocable trust, of which the Reporting Person's spouse is the sole trustee and the Reporting Person's son and the Reporting Person's son's descendants are the beneficiaries, in exchange for a promissory note payable to the Reporting Person in the principal amount of $1,257,525. The transfer resulted in a decrease in the number of shares the Reporting Person beneficially owns directly and a corresponding increase in the number of shares the Reporting Person beneficially owns indirectly through the irrevocable trust. The Reporting Person believes this transfer constitutes a change in form of beneficial ownership of the shares, exempted by Rule 16a-13 under the Securities Exchange Act of 1934.

On November 3, 2022, in accordance with the Reporting Person's tax planning strategy, the Reporting Person transferred 22,500 shares to an irrevocable trust, of which the Reporting Person's spouse is the sole trustee and the Reporting Person's daughter and the Reporting Person's daughter's descendants are the beneficiaries, in exchange for a promissory note payable to the Reporting Person in the principal amount of $1,257,525. The transfer resulted in a decrease in the number of shares the Reporting Person beneficially owns directly and a corresponding increase in the number of shares the Reporting Person beneficially owns indirectly through the irrevocable trust. The Reporting Person believes this transfer constitutes a change in form of beneficial ownership of the shares, exempted by Rule 16a-13 under the Securities Exchange Act of 1934.