Baldwin Insurance (BWIN) CFO reports 958-share tax withholding

Rhea-AI Filing Summary

Baldwin Insurance Group, Inc. Chief Financial Officer Hale Bradford reported share dispositions that were entirely for tax withholding. On March 15, 2026, a total of 958 Class A common shares were withheld by the issuer at $21.06 per share to satisfy income tax obligations tied to vesting of restricted stock. After these transactions, Bradford directly holds 184,338 Class A shares and also has indirect ownership of 10,000 shares held by the Amy W. Hale Revocable Trust, for which his spouse serves as sole trustee.

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

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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^*

Hale Bradford

(Last) (First) (Middle)

C/O THE BALDWIN INSURANCE GROUP, INC.

4211 W. BOY SCOUT BLVD., SUITE 800

(Street)

TAMPA FL 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)

	Director		10% Owner
X	Officer (give title below)	X	Other (specify below)
	Chief Financial Officer		Member of 10% owner group

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

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
Class A Common Stock	03/15/2026		F		556(1)	D	$21.06	184,740	D
Class A Common Stock	03/15/2026		F		402(2)	D	$21.06	184,338	D
Class A Common Stock								10,000	I	By Spouse(3)

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. Represents shares withheld by the issuer to satisfy income tax withholding obligations in connection with the vesting of restricted Class A common stock reported on a Form 4 filed on April 5, 2022.

2. Represents shares withheld by the issuer to satisfy income tax withholding obligations in connection with the vesting of restricted Class A common stock reported on a Form 4 filed on May 5, 2021.

3. These securities are directly held by the Amy W. Hale Revocable Trust dated July 28, 2009, of which Amy W. Hale, the reporting person's spouse, serves as sole trustee.

Remarks:

	/s/ Seth Cohen, as Attorney-in-Fact, for Bradford Hale	03/17/2026
	** 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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FAQ

What did Baldwin Insurance (BWIN) CFO report in this Form 4?

The CFO reported dispositions of shares that were fully for tax withholding. A total of 958 Class A shares were withheld by the issuer at $21.06 per share to cover income taxes on vested restricted stock.

Were Baldwin Insurance (BWIN) shares sold on the market in this Form 4?

No open-market sales were reported. The filing shows F-coded transactions, meaning 958 shares were withheld by the issuer solely to satisfy income tax obligations from restricted stock vesting, not discretionary sales by the CFO.

How many Baldwin Insurance (BWIN) shares does the CFO hold after these transactions?

Following the tax-withholding dispositions, the CFO directly holds 184,338 Class A shares. The filing also shows an additional 10,000 shares held indirectly through the Amy W. Hale Revocable Trust, where his spouse is sole trustee.

What is the nature of the F-code transactions in Baldwin Insurance (BWIN) Form 4?

The F-code entries represent tax-withholding dispositions. Specifically, 556 shares and 402 shares of Class A stock were withheld by the issuer to satisfy income tax withholding obligations related to earlier restricted stock awards.

How are the indirect Baldwin Insurance (BWIN) holdings structured for the CFO?

The filing reports 10,000 Class A shares held indirectly through the Amy W. Hale Revocable Trust. Amy W. Hale, the CFO’s spouse, serves as sole trustee, and these securities are directly held by that trust entity.

Does this Baldwin Insurance (BWIN) Form 4 indicate any option exercises by the CFO?

The data show no option exercises or derivative transactions. All reported dispositions are F-code tax-withholding events tied to restricted stock vesting, with no M, C, or other derivative exercise codes disclosed in this filing.