P. Barrett Brown - Feb 20, 2023 Form 4 Insider Report for BROWN & BROWN, INC. (BRO)

Role
EVP and Pres.- Retail Segment
Signature
/s/ Anthony M. Robinson, for P. Barrett Brown, per Power of Attorney
Stock symbol
BRO
Transactions as of
Feb 20, 2023
Transactions value $
$0
Form type
4
Date filed
2/21/2023, 04:02 PM
Previous filing
Feb 3, 2023
Next filing
Feb 28, 2023

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 +15.5K +43.39% $0.00 51.1K Feb 20, 2023 Direct F1, F2
transaction BRO Common Stock, $.10 par value (2019 SIP) Award $0 +2.17K +4.24% $0.00 53.3K Feb 20, 2023 Direct F2
holding BRO Common Stock, $.10 par value (2010 SIP) 37.8K Feb 20, 2023 Direct F3
holding BRO Common Stock, $.10 par value (PSP) 2.16K Feb 20, 2023 Direct F4
holding BRO Common Stock, $.10 par value 1.32M Feb 20, 2023 Direct F5
holding BRO Common Stock, $.10 par value 2.2M Feb 20, 2023 Charitable Lead Annuity Trust F6
holding BRO Common Stock, $.10 par value 10.4K Feb 20, 2023 401k F7
holding BRO Common Stock, $.10 par value 2.32K Feb 20, 2023 Children 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 2019 Stock Incentive Plan ("2019 SIP"). The initial grant was made on February 21, 2020, but was subject to the satisfaction of performance-based conditions established in connection with this grant. On February 20, 2023, 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 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.
F3 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.
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 A total of 460 of these shares were acquired through the Company's Employee Stock Purchase Plan in July 2022. Number of shares may vary due to dividend reinvestment.
F6 These shares are held by the James Hyatt Brown Nongrantor Charitable Lead Annuity Trust, of which the Reporting Person is a trustee and remainder beneficiary.
F7 Based upon information supplied by the plan record keeper as of December 31, 2022. Number of shares varied periodically based on contributions to the plan.
F8 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.