Jerome Scott Penny - Feb 26, 2023 Form 4 Insider Report for BROWN & BROWN, INC. (BRO)

Signature
/s/ Jerome Scott Penny
Stock symbol
BRO
Transactions as of
Feb 26, 2023
Transactions value $
-$1,155,489
Form type
4
Date filed
2/28/2023, 04:01 PM
Previous filing
Feb 21, 2023
Next filing
Nov 15, 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 -$386K -6.83K -3.09% $56.47 214K Feb 26, 2023 Direct F1, F2
transaction BRO Common Stock, $.10 par value Tax liability -$770K -13.6K -5.48% $56.47 235K Feb 27, 2023 Direct F2, F3
holding BRO Common Stock, $.10 par value (2010 SIP) 26.7K Feb 26, 2023 Direct F4
holding BRO Common Stock, $.10 par value (2019 SIP) 53.3K Feb 26, 2023 Direct F5
holding BRO Common Stock, $.10 par value (Jointly Owned) 357K Feb 26, 2023 Direct F6
holding BRO Common Stock, $.10 par value 19.4K Feb 26, 2023 401k F7
holding BRO Common Stock, $.10 par value 192 Feb 26, 2023 Children 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 17,364 shares of stock under the Company's 2010 Stock Incentive Plan ("2010 SIP").
F2 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.
F3 Shares were withheld by the Company solely to cover the income tax withholding requirements associated with the vesting of 34,632 shares of stock under the Company's Performance Stock Plan.
F4 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.
F5 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.
F6 Owned jointly with spouse.
F7 Based upon information supplied by the plan record keeper as of December 31, 2022. Number of shares varies 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.