[Form 4] Brown & Brown, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Brown & Brown, Inc. (BRO) – Form 4 insider activity

• Reporter: Bronislaw E. Masojada, Director.
• Transaction: On 08/06/2025, an entity wholly owned by the director’s spouse purchased 1,000 BRO common shares at $91.44 per share. The filing carries transaction code “P” (open-market purchase).
• Post-trade holding: 5,000 shares are now held indirectly through the spouse-owned entity. Masojada disclaims beneficial ownership of these shares.
• The table also lists a disposition of 2,675 shares coded “D”, but no date or price details are provided; materiality therefore cannot be assessed.

The total dollar value of the disclosed purchase is about $91,400, a modest amount relative to BRO’s market capitalisation. While insider buying can signal confidence, the scale is too small to be considered financially material to shareholders. No derivative positions were reported, and the filing contains no earnings or strategic information.

Insights

Equity Research Analyst

TL;DR Small insider buy (1k shares) shows limited confidence signal; immaterial to valuation.

The director’s indirect purchase represents roughly 0.001% of BRO’s 283 m shares outstanding, equating to ~$91k. Such a size is unlikely to influence market perception or fundamentals, yet insider buying—especially by a new director—can provide a marginal positive sentiment cue. The unclear 2,675-share disposition slightly offsets this signal. Overall, the activity is not impactful to earnings, cash flow, or capital structure, so I view it as neutral with a slight positive tilt.

Corporate Governance Specialist

TL;DR Routine Form 4; no governance red flags identified.

Masojada properly disclosed indirect ownership and disclaimed control, adhering to Section 16 requirements. The purchase via a spouse-controlled entity reflects transparent reporting. The vague disposal entry, lacking price/date, reduces clarity but does not constitute non-compliance. Overall governance impact is minimal, and the transaction does not alter board independence or ownership concentration.

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
Estimated average burden
hours per response:			0.5

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^*

Masojada Bronislaw Edmund

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/06/2025

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	08/06/2025		P		1,000	A	$91.44	5,000	I	By Spouse(1)
Common Stock, $.10 par value								2,675	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 shares are owned by an entity of which the reporting person's spouse is sole shareholder. The reporting person disclaims beneficial ownership in these shares.

	/s/ Bronislaw E. Masojada	08/07/2025
	** 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

How many Brown & Brown (BRO) shares did the director buy?

The filing shows an indirect purchase of 1,000 common shares at $91.44 each on 08/06/2025.

What is the director’s total shareholding after the transaction?

Following the trade, the director reports 5,000 shares held indirectly through a spouse-owned entity.

Was this trade executed under a Rule 10b5-1 plan?

The form does not check the 10b5-1 box, so the purchase was not reported as pre-planned under Rule 10b5-1(c).

Is the insider transaction material to BRO investors?

At roughly $91k, the trade is financially immaterial relative to Brown & Brown’s market value.

Why does the filing list a disposal of 2,675 shares?

Table I shows a 2,675-share disposition coded “D,” but the filing omits date and price details, so context is unclear.