Elizabeth Krystyn - Dec 9, 2024 Form 4 Insider Report for Baldwin Insurance Group, Inc. (BWIN)

Role: Member of 10% Owner Group
Signature: /s/ Seth Cohen, as Attorney-in Fact, for Elizabeth Krystyn
Stock symbol: BWIN
Transactions as of: Dec 9, 2024
Transactions value $: -$18,761,668
Form type: 4
Date filed: 12/11/2024, 06:06 PM
Previous filing: Oct 7, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWIN	Class B Common Stock	Conversion of derivative security	$0	-424K	-22.73%	$0.00	1.44M	Dec 9, 2024	By Trust	F1
transaction	BWIN	Class A Common Stock	Conversion of derivative security	$0	+424K		$0.00	424K	Dec 9, 2024	By Trust	F1
transaction	BWIN	Class A Common Stock	Sale	-$7.8M	-173K	-40.85%	$45.03	251K	Dec 9, 2024	By Trust	F1, F2
transaction	BWIN	Class A Common Stock	Sale	-$202K	-4.38K	-1.75%	$46.22	246K	Dec 9, 2024	By Trust	F1, F3
transaction	BWIN	Class A Common Stock	Sale	-$644K	-13.8K	-5.59%	$46.75	233K	Dec 9, 2024	By Trust	F1, F4
transaction	BWIN	Class A Common Stock	Sale	-$4.08M	-93.7K	-40.29%	$43.54	139K	Dec 10, 2024	By Trust	F1, F5
transaction	BWIN	Class A Common Stock	Sale	-$2.24M	-50.6K	-36.41%	$44.24	88.3K	Dec 10, 2024	By Trust	F1, F6
transaction	BWIN	Class A Common Stock	Sale	-$3.8M	-88.3K	-100%	$43.05	0	Dec 11, 2024	By Trust	F1, F7
holding	BWIN	Class B Common Stock						476K	Dec 9, 2024	By Trust	F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BWIN	LLC Units in The Baldwin Insurance Group Holdings, LLC	Conversion of derivative security	$0	-424K	-22.73%	$0.00	1.44M	Dec 9, 2024	Class A Common Stock	424K	$0.00	By Trust	F1, F9
holding	BWIN	LLC Units in The Baldwin Insurance Group Holdings, LLC						476K	Dec 9, 2024	Class A Common Stock	476K	$0.00	By Trust	F8, F9

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

Explanation of Responses:

Id	Content
F1	These securities are directly held by the Elizabeth H. Krystyn 2017 Revocable Trust, dated June 28, 2017, of which the reporting person is the sole trustee and beneficiary.
F2	The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $44.54 to $45.49. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F3	The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $45.56 to $46.45. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F4	The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $46.57 to $46.91. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F5	The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $43.02 to $44.01. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F6	The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $44.02 to $44.55. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F7	The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $43.00 to $43.23. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F8	These securities are directly held by the Elizabeth H. Krystyn 2019 Irrevocable Trust, dated September 30, 2019, of which Enrique M. Fueyo, the reporting person's spouse, serves as the sole trustee.
F9	Each LLC Unit, together with a share of Class B common stock, may be exchanged by the holder for one share of Class A common stock at any time. The LLC Units do not expire.