Form 4: Baldwin Insurance Officer Sells $376K in Class A Stock

A Baldwin Insurance Group officer converted 15,000 LLC units and Class B shares into Class A common stock, then sold all 15,000 Class A shares for a total of approximately $376,200.

Summary

• James Morgan Roche, an officer of Baldwin Insurance Group, Inc., executed a series of transactions on December 5, 2025.
• Roche converted 15,000 LLC Units in The Baldwin Insurance Group Holdings, LLC, along with 15,000 shares of Class B Common Stock, into 15,000 shares of Class A Common Stock.
• Immediately following the conversion, Roche sold all 15,000 newly acquired Class A Common Stock shares.
• The Class A shares were sold at a weighted average price of $25.08 per share, with prices ranging from $25.00 to $25.46.
• The total proceeds from the sale amounted to approximately $376,200 (15,000 shares * $25.08).
• Following these transactions, Roche directly beneficially owns 1,021,786 shares of Class B Common Stock, 42,113 shares of Class A Common Stock, and 1,021,786 LLC Units.

Sentiment

Score: 4

Explanation: The filing reports an insider sale, which can be viewed as a slight negative by investors, though it's a common liquidity event for executives. The transaction was likely pre-planned under a Rule 10b5-1 plan, which mitigates some negative perception.

Positives

• The conversion mechanism allows for liquidity for officers holding non-publicly traded units/shares, demonstrating a clear path for executives to monetize their equity holdings.

Negatives

• Insider selling, even if pre-planned, can sometimes be perceived negatively by the market as it reduces an officer's direct equity stake in the company.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: May interpret the insider sale as a signal, potentially leading to minor negative sentiment, though the amount is relatively small compared to total shares outstanding and the officer's remaining holdings.

Key Dates

Keywords

Baldwin Insurance Group, BWIN, Insider Trading, Stock Sale, Form 4, Officer Transaction, Equity Conversion, Class A Common Stock, Class B Common Stock, LLC Units