[Form 4] Baldwin Insurance Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Baldwin Insurance Group, Inc. General Counsel Seth Bala Cohen reported routine tax-related share dispositions in Class A common stock. On March 15, 2026, a total of 800 shares were withheld by the company at $21.06 per share to cover income tax obligations tied to previously reported restricted stock vesting. These were issuer tax-withholding transactions rather than open-market sales. After these withholdings, Cohen directly holds 29,024 shares of Class A common stock.

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^*

Cohen Seth Bala

(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)		Other (specify below)
	General Counsel

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		254(1)	D	$21.06	29,570	D
Class A Common Stock	03/15/2026		F		283(2)	D	$21.06	29,287	D
Class A Common Stock	03/15/2026		F		263(3)	D	$21.06	29,024	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. 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 April 3, 2024

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 April 4, 2023.

3. 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 April 5, 2022.

Remarks:

	/s/ Seth Cohen	03/17/2026
	** 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).
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FAQ

What does Seth Bala Cohen’s latest Form 4 for Baldwin Insurance Group (BWIN) report?

The Form 4 reports tax-related share withholdings by Baldwin Insurance Group for General Counsel Seth Bala Cohen. The company withheld shares of Class A common stock to satisfy income tax obligations connected to vesting of previously granted restricted stock awards.

How many Baldwin Insurance Group (BWIN) shares were withheld for taxes in this Form 4?

The filing shows three tax-withholding dispositions totaling 800 shares of Class A common stock. Individual withholdings were for 254, 283, and 263 shares, all on March 15, 2026, at a reported value of $21.06 per share.

Was Seth Bala Cohen’s Form 4 for Baldwin Insurance Group (BWIN) an open-market stock sale?

No. The Form 4 records F-code tax-withholding dispositions, not open-market sales. Shares were withheld by Baldwin Insurance Group to cover income tax liabilities associated with the vesting of restricted Class A common stock granted in prior awards.

What is Seth Bala Cohen’s Baldwin Insurance Group (BWIN) share ownership after the reported tax withholdings?

After the reported transactions, General Counsel Seth Bala Cohen directly holds 29,024 shares of Baldwin Insurance Group Class A common stock. This figure reflects his position following the 800 shares withheld by the issuer for tax obligations on vested restricted stock.

What do the footnotes in Baldwin Insurance Group (BWIN) General Counsel’s Form 4 explain?

The footnotes state that each transaction represents shares withheld by the issuer to satisfy income tax withholding obligations upon vesting of restricted Class A common stock, tied to awards previously reported on Form 4 filings in 2022, 2023, and 2024.

Who is the insider involved in this Baldwin Insurance Group (BWIN) Form 4 filing?

The insider is Seth Bala Cohen, who serves as General Counsel of Baldwin Insurance Group, Inc. The Form 4 reflects his direct ownership in Class A common stock and routine tax-withholding share dispositions related to restricted stock vesting.