Baldwin Insurance director entity buys BWIN shares

Baldwin Insurance Group director Paul Sparks, through Sparks 5280VC, LLC, reported several indirect transactions in Class A common stock.

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Rhea-AI Filing Summary

Baldwin Insurance Group director Paul Sparks, through Sparks 5280VC, LLC, reported several indirect transactions in Class A common stock. On March 2 and 3, the LLC made open‑market purchases totaling 44,200 shares at reported prices of $22.96 and $22.10 per share, and a bona fide gift transfer of 30,100 shares.

After these transactions, Sparks 5280VC, LLC held 996,706 shares of Class A stock indirectly attributed to Sparks. Separate indirect holdings include 96,787 shares held by the Paul Sparks Inheritor's Trust and 18,042 shares held in his individual retirement account.

Insider Trade Summary

Net Buyer: 44,200 shares

Net Buy 5 txns

Insider Sparks Paul Eugene

Role Director

Bought 44,200 shs ($1.00M)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	15,200	$22.10	$336K
Gift	Class A Common Stock	30,100	$0.00	$0.00
Purchase	Class A Common Stock	29,000	$22.96	$666K
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 996,706 shares (Indirect, By Sparks 5280VC, LLC); Class A Common Stock — 96,787 shares (Indirect, By Trust); Class A Common Stock — 18,042 shares (Indirect, By IRA)

Footnotes (5)

F1. Due to clerical error, shares held by Sparks 5280VC, LLC were previously listed as being held by the Paul Sparks Trust.
F2. The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $22.95 to $22.96. 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 $22.00 to $22.22. 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. These shares are directly held by the Paul Sparks Inheritor's Trust, for which such Reporting Person acts as trustee.
F5. These shares are directly held by such Reporting Person's individual retirement account, for which the Reporting Person remains the beneficial owner.

FAQ

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What insider transactions did Baldwin Insurance Group (BWIN) director Paul Sparks report?

Paul Sparks reported indirect activity in Baldwin Insurance Group (BWIN) Class A stock. An LLC associated with him bought 44,200 shares in open‑market transactions and made a bona fide gift of 30,100 shares, all reported as indirect ownership positions.

How many Baldwin Insurance Group (BWIN) shares did the LLC linked to Paul Sparks buy?

Sparks 5280VC, LLC, associated with director Paul Sparks, bought 44,200 shares of Baldwin Insurance Group (BWIN) Class A common stock. Purchases occurred on March 2 and 3 at reported prices of $22.96 and $22.10 per share in open‑market transactions.

Did Paul Sparks report any gifts of Baldwin Insurance Group (BWIN) shares?

Yes. An entity associated with Paul Sparks reported a bona fide gift of 30,100 shares of Baldwin Insurance Group (BWIN) Class A common stock. The transaction was coded as a gift, with a reported per‑share transaction price of $0.00 in the filing data.

What is the total indirect Baldwin Insurance Group (BWIN) stake held by Sparks 5280VC, LLC after the trades?

Following the reported transactions, Sparks 5280VC, LLC held 996,706 shares of Baldwin Insurance Group (BWIN) Class A common stock. These shares are reported as indirectly owned by director Paul Sparks through the LLC structure noted in the ownership descriptions.

What additional Baldwin Insurance Group (BWIN) shares are held via Paul Sparks’ trust and IRA?

Beyond the LLC holdings, 96,787 Baldwin Insurance Group (BWIN) shares are held by the Paul Sparks Inheritor's Trust, where he acts as trustee, and 18,042 shares are held in his individual retirement account, which the filing states he beneficially owns.

Are Paul Sparks’ Baldwin Insurance Group (BWIN) holdings direct or indirect?

All holdings shown in the data are reported as indirect. Shares are held through Sparks 5280VC, LLC, the Paul Sparks Inheritor's Trust, and his individual retirement account, with the filing attributing beneficial ownership to Paul Sparks through these entities.

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Accepted by SEC EDGAR 03/04/2026 - 06:38 PM

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^*

Sparks Paul Eugene

(Last)

(First)

(Middle)

C/O THE BALDWIN INSURANCE GROUP, INC.

4211 W. BOY SCOUT BLVD., SUITE 800

(Street)

TAMPA

33607

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Baldwin Insurance Group, Inc. [ BWIN ]

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)
03/02/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	03/02/2026		G		30,100	D	$0	952,506	I	By Sparks 5280VC, LLC⁽¹⁾
Class A Common Stock	03/02/2026		P		29,000	A	$22.96⁽²⁾	981,506	I	By Sparks 5280VC, LLC
Class A Common Stock	03/03/2026		P		15,200	A	$22.1⁽³⁾	996,706	I	By Sparks 5280VC, LLC
Class A Common Stock								96,787	I	By Trust⁽⁴⁾
Class A Common Stock								18,042	I	By IRA⁽⁵⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Due to clerical error, shares held by Sparks 5280VC, LLC were previously listed as being held by the Paul Sparks Trust.

2. The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $22.95 to $22.96. 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.

3. The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $22.00 to $22.22. 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.

4. These shares are directly held by the Paul Sparks Inheritor's Trust, for which such Reporting Person acts as trustee.

5. These shares are directly held by such Reporting Person's individual retirement account, for which the Reporting Person remains the beneficial owner.

Remarks:

	/s/ Seth Cohen, as Attorney-in Fact, for Paul Sparks	03/04/2026
	** 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.

Source: View Original Filing on SEC EDGAR