Executive at Brown & Brown (NYSE: BRO) receives 16,114-share stock awards

Rhea-AI Filing Summary

Brown & Brown, Inc. executive Stephen M. Boyd reported stock awards rather than open‑market trades. On February 26, 2026, he acquired 10,404 shares of common stock tied to a 2023 performance-based grant under the 2019 Stock Incentive Plan, after the company confirmed the required performance conditions were met.

He also received a separate 5,710-share service-based award under the same plan. For both grants he now has voting rights and dividend entitlement, while full ownership will vest only after additional service-based conditions are satisfied. Following these awards, he directly holds 83,081 common shares.

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

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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 Dist Segment

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

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 (2019 SIP)	02/26/2026		A		10,404(1)	A	$0.00	54,858(2)	D
Common Stock, $.10 par value (2019 SIP)	02/26/2026		A		5,710	A	$0.00	60,568(2)	D
Common Stock, $.10 par value								83,081(3)	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. These securities were granted pursuant to the Company's 2019 Stock Incentive Plan ("2019 SIP"). The initial grant was made on February 20, 2023, but was subject to the satisfaction of performance-based conditions established in connection with this grant. On February 26, 2026, 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.

2. 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.

3. 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.

	/s/ Anthony M. Robinson, for Stephen M. Boyd, per Power of Attorney	03/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

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

Brown & Brown (BRO) reported that executive Stephen M. Boyd received stock awards, not open-market trades. On February 26, 2026, he acquired 10,404 performance-based shares and 5,710 service-based shares of common stock under the company’s 2019 Stock Incentive Plan.

How many Brown & Brown (BRO) shares did Stephen M. Boyd acquire in this Form 4?

Stephen M. Boyd acquired a total of 16,114 Brown & Brown (BRO) shares through stock awards. This includes 10,404 shares from a performance-based grant and 5,710 shares from a service-based award, both issued under the company’s 2019 Stock Incentive Plan at no cash purchase price.

Were Stephen M. Boyd’s new Brown & Brown (BRO) shares immediately vested?

The new Brown & Brown (BRO) shares are not fully vested. For the 10,404-share performance-based grant and the 5,710-share service-based award, Boyd has voting and dividend rights now, but full ownership depends on satisfying specified service-based vesting conditions over time.

What plan governed the stock awards to Stephen M. Boyd at Brown & Brown (BRO)?

The stock awards to Stephen M. Boyd were granted under Brown & Brown’s 2019 Stock Incentive Plan. One grant originated in February 2023 with performance conditions later confirmed, while the other is a service-based award, both providing voting and dividend rights before full vesting.

How many Brown & Brown (BRO) shares does Stephen M. Boyd hold after these awards?

After these awards, Stephen M. Boyd directly holds 83,081 Brown & Brown (BRO) common shares. This figure reflects his updated direct ownership, including shares received through the recent performance-based and service-based grants reported in the Form 4 filing for February 26, 2026.

Did Stephen M. Boyd buy or sell Brown & Brown (BRO) shares on the market?

Stephen M. Boyd did not buy or sell Brown & Brown (BRO) shares on the open market in this filing. The Form 4 only shows stock awards granted at a reported price of $0.00 per share under the 2019 Stock Incentive Plan, reflecting compensation rather than trading.