Tax withholding of shares by Brown & Brown (BRO) EVP Penny Jerome Scott
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
BROWN & BROWN, INC. executive Penny Jerome Scott reported a tax-related share disposition tied to vesting of stock awards. On 2026-02-23, the company withheld 7,058 shares of common stock at $69.59 per share solely to cover income tax withholding on 18,946 vested shares under the 2019 Stock Incentive Plan.
After this withholding, Scott directly owned 272,674 common shares, plus 46,480 unvested shares granted under the 2019 plan where she has voting rights and dividend entitlement subject to service-based vesting conditions. She also jointly owned 357,056 shares with her spouse, held 19,947 shares through a 401(k) plan as of December 31, 2025, and 192 shares were attributed to children, for which she disclaimed beneficial ownership.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
PENNY JEROME SCOTT
Role
EVP Chief Acquisitions Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock, $.10 par value | 7,058 | $69.59 | $491K |
| holding | Common Stock, $.10 par value (2019 SIP) | -- | -- | -- |
| holding | Common Stock, $.10 par value (Jointly Owned) | -- | -- | -- |
| holding | Common Stock, $.10 par value | -- | -- | -- |
| holding | Common Stock, $.10 par value | -- | -- | -- |
Holdings After Transaction:
Common Stock, $.10 par value — 272,674 shares (Direct);
Common Stock, $.10 par value (2019 SIP) — 46,480 shares (Direct);
Common Stock, $.10 par value (Jointly Owned) — 357,056 shares (Direct);
Common Stock, $.10 par value — 19,947 shares (Indirect, 401k)
Footnotes (1)
- Shares were withheld by the Company solely to cover the income tax withholding requirements associated with the vesting of 18,946 shares of stock under the Company's 2019 Stock Incentive Plan ("2019 SIP"). A total of 248 of these shares were acquired through the Company's Teammate Stock Purchase Plan in July 2025. Number of shares may vary due to dividend reinvestment. These securities were granted pursuant to the 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. Owned jointly with spouse. Based upon information supplied by the plan record keeper as of December 31, 2025. Number of shares varies periodically based on contributions to the plan. 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.
FAQ
What insider transaction did BRO executive Penny Jerome Scott report?
Penny Jerome Scott reported a tax-related share withholding, not an open-market trade. The company withheld 7,058 BROWN & BROWN shares at $69.59 each to satisfy income tax obligations on 18,946 vested shares from the 2019 Stock Incentive Plan.
Was the BROWN & BROWN (BRO) Form 4 a sale by Penny Jerome Scott?
The Form 4 reflects a tax-withholding disposition rather than a voluntary sale. Shares were withheld by BROWN & BROWN to cover income tax on vested stock awards, using 7,058 shares from Penny Jerome Scott’s holdings at a value of $69.59 per share.
What is the role of the 2019 Stock Incentive Plan in this BRO Form 4?
The 2019 Stock Incentive Plan granted 18,946 shares that vested, triggering tax obligations covered by withholding 7,058 shares. Scott also holds 46,480 additional plan shares that provide voting and dividend rights but will vest only after meeting service-based conditions set by the company.