Baldwin Insurance Group (BWIN) GC granted stock; shares withheld

Rhea-AI Filing Summary

Baldwin Insurance Group, Inc. General Counsel Seth Bala Cohen reported equity compensation activity in Class A common stock. On March 3, 2026, he received 19,324 shares as an annual bonus for the fiscal year ended December 31, 2025.

To cover income tax withholding on this stock bonus, the issuer withheld 7,217 shares. After these transactions, Cohen directly owned 29,824 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

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^*

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)
03/03/2026

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	03/03/2026		A		19,324(1)	A	$0	37,041	D
Class A Common Stock	03/03/2026		F		7,217(2)	D	$22.29	29,824	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 of Class A common stock were received by the reporting person as an annual bonus payment for the fiscal year ended December 31, 2025.

2. Represents shares of Class A common stock withheld by the issuer to satisfy income tax withholding obligations in connection with the issuance of the shares of Class A common stock as disclosed in footnote 1.

Remarks:

	/s/ Seth Cohen	03/05/2026
	** 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.

FAQ

What insider transactions did Baldwin Insurance Group (BWIN) report for Seth Bala Cohen?

Baldwin Insurance Group reported that General Counsel Seth Bala Cohen received 19,324 Class A common shares as an annual bonus, and 7,217 shares were withheld by the company to satisfy income tax obligations related to this stock bonus.

How many Baldwin Insurance Group (BWIN) shares did the General Counsel receive as a bonus?

General Counsel Seth Bala Cohen received 19,324 shares of Baldwin Insurance Group Class A common stock as an annual bonus for the fiscal year ended December 31, 2025, according to the Form 4 insider transaction report.

Why were some Baldwin Insurance Group (BWIN) shares disposed of in this Form 4 filing?

The Form 4 shows 7,217 Class A shares classified as a disposition because the issuer withheld them to satisfy income tax withholding obligations arising from the stock bonus, not because of an open-market sale by the General Counsel.

What is Seth Bala Cohen’s direct Baldwin Insurance Group (BWIN) shareholding after these transactions?

After the stock bonus grant and related tax withholding, General Counsel Seth Bala Cohen directly owned 29,824 shares of Baldwin Insurance Group Class A common stock, as reported in the Form 4 filing for the March 3, 2026 transactions.

How are the Baldwin Insurance Group (BWIN) Form 4 transactions coded for the General Counsel?

The Form 4 codes the 19,324-share bonus as an “A” transaction, a grant or award acquisition, and the 7,217 withheld shares as an “F” transaction, indicating shares used to pay income tax obligations tied to the stock issuance.