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

Rhea-AI Filing Summary

Ellyn Shook, a director of Baldwin Insurance Group, Inc. (BWIN), reported acquiring 861 Class A common shares on 10/01/2025. The transaction is reported as an acquisition with a reported price of $0, and following the transaction Ms. Shook beneficially owned 10,963 shares. The filing records no derivative transactions and was signed by Seth Cohen as attorney-in-fact on 10/03/2025. This Form 4 discloses a straightforward insider purchase/grant by a director and contains no other compensatory or derivative details.

Positive

• Director ownership increased to 10,963 shares after the reported acquisition
• No derivative securities reported, simplifying ownership disclosure

Negative

• None.

Insights

Governance Analyst

Director reported an 861-share acquisition, raising ownership to 10,963 shares.

The Form 4 shows Ellyn Shook acquired 861 Class A shares on 10/01/2025 at a reported price of $0. The filing lists no derivative positions, indicating the change is limited to common stock.

This is a routine insider disclosure that updates ownership levels; the $0 price suggests a non‑cash grant or similar transfer rather than an open‑market purchase, but the form itself does not explain the economic terms beyond the recorded price.

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^*

Shook Ellyn

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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
Class A Common Stock	10/01/2025		A		861	A	$0	10,963	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:

Remarks:

	/s/ Seth Cohen, as Attorney-in-Fact, for Ellyn Shook	10/03/2025
	** 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

What did Ellyn Shook report on the Form 4 for BWIN?

Ellyn Shook reported acquiring 861 Class A common shares on 10/01/2025, increasing beneficial ownership to 10,963 shares.

What price was reported for the shares acquired by the director (BWIN)?

The Form 4 lists a reported transaction price of $0 for the 861 Class A shares.

Were any derivative securities reported in this BWIN Form 4?

No. The filing shows no derivative securities acquired, disposed of, or beneficially owned.

Who filed and signed the Form 4 for Ellyn Shook (BWIN)?

The Form 4 was signed by Seth Cohen as attorney-in-fact for Ellyn Shook on 10/03/2025.

Does the Form 4 explain why the price is listed as $0?

The filing does not provide an explanation; it only reports the $0 price and the transaction details.