Brown & Brown (BRO) executive discloses 1,500-share stock disposition

Rhea-AI Filing Summary

Brown & Brown executive Stephen M. Boyd reported a change in his company shareholdings. On 12/17/2025, he disposed of 1,500 shares of Brown & Brown common stock at a reported price of $0.00 per share. After this transaction, he beneficially owned 75,636 shares of common stock directly, including 248 shares acquired through the company's Employee Stock Purchase Plan in July 2025.

In addition, Boyd held 59,611 shares granted under the company's 2019 Stock Incentive Plan, for which he currently has voting rights and receives dividends, while full ownership will depend on satisfying service-based conditions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Boyd Stephen M

(Last) (First) (Middle)

300 N. BEACH STREET

(Street)

DAYTONA BEACH FL 32114

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BROWN & BROWN, INC. [ BRO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP/Pres Spec Distribution

3. Date of Earliest Transaction (Month/Day/Year)
12/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $.10 par value	12/17/2025		G		1,500	D	$0.00	75,636(1)	D
Common Stock, $.10 par value (2019 SIP)								59,611(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. A total of 248 of these shares were acquired through the Company's Employee Stock Purchase Plan in July 2025. Number of shares may vary due to dividend reinvestment.

2. 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.

	/s/ Anthony M. Robinson, for Stephen M. Boyd, per Power of Attorney	12/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Brown & Brown (BRO) executive Stephen M. Boyd report?

Stephen M. Boyd reported disposing of Brown & Brown stock. On 12/17/2025, he disposed of 1,500 shares of the company's common stock at a reported price of $0.00 per share.

How many Brown & Brown (BRO) shares did Stephen M. Boyd dispose of in this filing?

Boyd disposed of 1,500 shares. The filing shows a disposition of 1,500 shares of Brown & Brown common stock on 12/17/2025 at a reported price of $0.00 per share.

How many Brown & Brown (BRO) shares does Stephen M. Boyd own after the transaction?

Boyd directly owns 75,636 common shares after the trade. The form reports 75,636 shares of Brown & Brown common stock beneficially owned directly following the transaction, plus 59,611 shares granted under the 2019 Stock Incentive Plan.

What is disclosed about shares acquired through Brown & Brown's Employee Stock Purchase Plan?

248 of Boyd's shares came from the Employee Stock Purchase Plan. The filing notes that 248 of the directly owned shares were acquired through the company's Employee Stock Purchase Plan in July 2025 and that the number may vary due to dividend reinvestment.

What are the key terms of Stephen M. Boyd's 2019 Stock Incentive Plan shares at Brown & Brown (BRO)?

Boyd holds 59,611 shares under the 2019 Stock Incentive Plan. He has voting rights and dividend entitlement on these shares, but full ownership will not vest until service-based conditions are satisfied.

Is this insider ownership report for one or multiple reporting persons?

The filing is made by one reporting person. The form indicates that it is a Form filed by one reporting person, covering Stephen M. Boyd's holdings and transaction.