Form 4: BRP Group Executive James Roche Reports Stock Award and Tax Withholding
SEC Form 4 Filing
James Roche, a BRP Group executive, received shares as an annual bonus and had shares withheld for tax obligations, according to a recent SEC filing.
Summary
- On April 1, 2024, James Roche, President, BRP and CEO, Underwriting, Capacity and Technology Operations, received 38,369 shares of Class A common stock as an annual bonus for the fiscal year ended December 31, 2023.
- On the same day, 16,135 shares of Class A common stock were withheld by BRP Group to satisfy income tax obligations related to the bonus share issuance at a price of $28.55.
- Following these transactions, Roche directly owns 258,499 shares of Class A common stock.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions related to executive compensation and tax withholding, with no inherent positive or negative implications for the company's performance or outlook.
Industry Context
This filing is a routine disclosure of insider transactions, providing transparency to investors regarding the holdings and transactions of company executives. It is standard practice for companies to withhold shares to cover tax obligations related to stock awards.
Stakeholder Impact
- The transactions have a minor impact on shareholders by slightly increasing the number of outstanding shares.
- The tax withholding ensures compliance with tax regulations.
Key Dates
| Date | Description |
|---|---|
| December 31, 2023 | End of fiscal year for which the bonus was awarded. |
| April 1, 2024 | Date of stock award and tax withholding. |
| April 3, 2024 | Date of signature on the SEC filing. |
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