Form 4: Baldwin Insurance Group Insider Discloses Internal Transfer of Shares and LLC Units to Family Trust

BIGH, LLC, a significant owner and director of Baldwin Insurance Group, Inc. (BWIN), has disclosed the distribution of 50,000 shares of Class B Common Stock and 50,000 LLC Units to the Honey Bee Family Trust.

Summary

• BIGH, LLC, identified as a Director, 10% Owner, and Member of a 10% Owner Group of Baldwin Insurance Group, Inc. (BWIN), reported a transaction on June 9, 2025.
• The transaction involved the disposition of 50,000 shares of Class B Common Stock at a price of $0.
• Concurrently, 50,000 LLC Units in The Baldwin Insurance Group Holdings, LLC were also disposed of at a price of $0.
• These securities were distributed by BIGH, LLC to the Honey Bee Family Trust.
• The Honey Bee Family Trust's sole trustee is the spouse of L. Lowry Baldwin, who is the sole manager of the manager of BIGH, LLC.
• This distribution resulted in a corresponding reduction in the Honey Bee Family Trust's ownership of BIGH, LLC.
• Following these transactions, BIGH, LLC beneficially owns 12,572,590 shares of Class B Common Stock and 12,572,590 LLC Units.
• Each LLC Unit, along with a share of Class B common stock, is exchangeable for one share of Class A common stock at any time and does not expire.

Sentiment

Score: 5

Explanation: The transaction is an internal transfer of securities at a $0 price between related parties, indicating a restructuring of ownership within the controlling group rather than a market sale or purchase. This is generally neutral for public market sentiment as it does not directly impact the company's operations or financial health.

Future Outlook

This Form 4 filing is a disclosure of an insider transaction and does not contain any forward-looking statements or guidance regarding the company's future financial performance or strategic outlook.

Industry Context

This filing is a standard disclosure of an insider ownership change within the insurance industry, specifically related to a significant shareholder and director of Baldwin Insurance Group. It does not provide broader industry trends or competitive analysis.

Related Party Transactions

• The distribution of securities by BIGH, LLC to the Honey Bee Family Trust is a related party transaction, as the sole trustee of the Honey Bee Family Trust is the spouse of L. Lowry Baldwin, who manages the reporting person.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is an internal transfer of ownership within a controlling entity, not a market sale or purchase that would affect liquidity or share price directly.
• Employees, Customers, Suppliers, Creditors: No direct impact from this ownership restructuring.

Key Dates

Keywords

Baldwin Insurance Group, BWIN, SEC Form 4, Insider Transaction, Share Distribution, LLC Units, Beneficial Ownership, Family Trust, Corporate Governance