Welcome to our dedicated page for The Baldwin Group SEC filings (Ticker: BWIN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Baldwin Insurance Group, Inc. filings document an insurance distribution company with Class A common stock listed on the Nasdaq Global Select Market under BWIN. Its 8-K reports furnish quarterly and annual operating results, revenue measures, adjusted earnings metrics, liquidity, share-repurchase authorization, and material credit agreement amendments involving term loan and revolving credit facilities.
Proxy materials describe board elections, executive compensation, equity awards, shareholder voting matters, and governance practices. The filing record also identifies The Baldwin Insurance Group Holdings, LLC as the operating company subsidiary and borrower under credit arrangements, linking regulatory disclosures to the company’s brokerage, advisory, managing general agency, captive management, and technology-enabled insurance operations.
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.
Baldwin Insurance Group, Inc. director and 10% owner Baldwin Lowry reported an internal reallocation of interests tied to BIGH, LLC. BIGH, LLC distributed 35,000 LLC Units in The Baldwin Insurance Group Holdings, LLC and a corresponding 35,000 shares of Class B common stock to one of its members, reducing that member's ownership in BIGH, LLC. Following the transactions, 12,537,590 units and corresponding Class B shares remained indirectly held through BIGH, LLC. Lowry disclaims beneficial ownership of these securities except to the extent of his pecuniary interest. Each LLC Unit, together with a share of Class B common stock, is exchangeable into one share of Class A common stock at any time, and the LLC Units do not expire.
BIGH, LLC, a member of a 10% owner group of Baldwin Insurance Group, Inc., reported an internal reallocation of ownership interests. On March 2, 2026, 35,000 LLC Units in The Baldwin Insurance Group Holdings, LLC and 35,000 shares of Class B common stock were distributed to a member of BIGH, LLC, with no cash consideration reported.
The distribution reduced that member’s ownership in BIGH, LLC while transferring the underlying securities to the member. BIGH, LLC disclaims beneficial ownership of these securities except to the extent of its pecuniary interest. Each LLC Unit, together with a share of Class B common stock, can be exchanged into one share of Class A common stock at any time, and the LLC Units do not expire.
Roche James Morgan reported acquisition or exercise transactions in this Form 4 filing.
Baldwin Insurance Group, Inc. reported that officer James Morgan Roche received a grant of 240,000 shares of Class A common stock at a price of $0.0000 per share. After this award, he directly holds 302,810 shares of Class A common stock.
The 240,000-share award consists of restricted stock that vests in four equal installments on January 1, 2027, January 1, 2028, January 1, 2029 and January 1, 2030, subject to the terms of his restricted stock award agreement and his Second Amended and Restated Employment Agreement dated February 26, 2026.
The Baldwin Insurance Group, Inc. outlines its business model, growth strategy and rising leverage in its annual report. The holding company controls Baldwin Holdings and operates as an independent insurance distributor across commercial, personal, employee benefits, wealth and Medicare lines.
Operations are organized into three groups: Insurance Advisory Solutions, Underwriting, Capacity & Technology Solutions (including the MSI MGA platform and reinsurance/captive activities), and Mainstreet Insurance Solutions, supported by roughly 5,000 colleagues, over three million clients and about 125 offices in 24 states.
As of December 31, 2025, the company reports approximately $1.7 billion of consolidated debt, including $1.006 billion of term loans and $600 million of 7.125% Senior Secured Notes due 2031, with $279.1 million of 2025 debt service, $123.7 million of cash and $477.0 million of revolver availability. Subsequent $600.0 million of incremental term loans and up to $320.0 million of CAC Group-related cash obligations, plus contingent earnouts of up to $50.0 million, feature prominently among risk factors, alongside macroeconomic, competitive, technology, regulatory and seasonality risks.
The Baldwin Insurance Group, Inc. reported fourth quarter and full year 2025 results and authorized a share repurchase of up to $250 million of its common stock. Full year 2025 total revenue rose 8% to $1.5 billion, with organic revenue growth of 7%.
The company posted a GAAP net loss of $54.2 million, or $0.50 diluted loss per share, but generated adjusted net income of $198.9 million and adjusted diluted EPS of $1.67, up 11% year-over-year. Adjusted EBITDA grew to $341.5 million with a 22.7% margin. In the fourth quarter, revenue increased 5% to $347.3 million and adjusted EBITDA reached $69.6 million with a 20.1% margin, while GAAP net loss was $43.7 million. Cash and cash equivalents were $123.7 million at December 31, 2025, and adjusted free cash flow for the year was $87.2 million.
Baldwin Insurance Group, Inc. Chief Financial Officer Hale Bradford reported equity compensation transactions in Class A common stock. On February 23, 2026, he acquired 29,544 shares at $0.00 per share through the settlement of performance-based restricted stock units granted in 2023, following achievement of predetermined performance goals. On the same date, 7,633 shares at $16.57 per share were disposed of to cover income tax withholding obligations related to this share issuance. After these transactions, Bradford directly owned 166,570 shares of Class A common stock. An additional 10,000 shares are held indirectly through the Amy W. Hale Revocable Trust, for which his spouse serves as sole trustee.
Baldwin Insurance Group, Inc. Chief Accounting Officer Corbyn N. Lichon reported a mix of equity award and related tax withholding transactions in Class A common stock. On February 23, 2026, Lichon acquired 4,744 shares at a price of $0.00 per share through settlement of performance-based restricted stock units granted in 2023, which vested based on predetermined performance goals.
On the same date, 1,880 shares were disposed of at $16.57 per share, representing shares withheld by the issuer to cover income tax obligations arising from the award. Following these transactions, Lichon directly owned 49,536 shares of Class A common stock.
Baldwin Insurance Group General Counsel Seth Bala Cohen reported equity compensation activity in Class A common stock. He acquired 10,167 shares at no cost upon settlement of performance-based restricted stock units granted in 2023, which vested based on predetermined performance goals.
To cover income tax withholding obligations related to this award, 2,915 shares were withheld by the company at a price of $16.57 per share. After these transactions, Cohen directly holds 17,717 shares of Baldwin Insurance Group Class A common stock.
Baldwin Insurance Group, Inc. officer James Morgan Roche reported equity compensation activity involving Class A common stock. He acquired 29,544 shares at $0.00 per share as settlement of performance-based restricted stock units granted in 2023, after predetermined performance goals were achieved. To cover income tax withholding on this issuance, 8,847 shares were withheld by the company at $16.57 per share, a tax-withholding disposition rather than an open-market sale. Following these transactions, he directly holds 62,810 shares of Class A common stock.