Form 4: BRP Group General Counsel Cohen Reports Changes in Beneficial Ownership

Seth Cohen, General Counsel of BRP Group, reports acquisition and disposal of Class A Common Stock due to bonus, tax withholding, and vesting of restricted shares.

Summary

• On April 1, 2024, Seth Cohen, General Counsel of BRP Group, reported changes in beneficial ownership of Class A Common Stock.
• Cohen acquired 14,199 shares as an annual bonus for the fiscal year ended December 31, 2023.
• The issuer withheld 3,555 shares to satisfy income tax withholding obligations related to the bonus shares at a price of $28.55.
• Cohen also acquired 3,406 restricted shares of Class A common stock that vest in five equal installments starting March 15, 2025, and ending March 15, 2029, contingent upon continued employment.
• Additionally, 60 shares were withheld to cover income tax obligations from the vesting of restricted stock previously reported on February 2, 2022, at a price of $28.55.
• Following these transactions, Cohen beneficially owns 24,647 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reflects routine compensation and tax-related transactions. The bonus suggests positive performance, but the tax withholding is a standard procedure.

Positives

• Receipt of 14,199 shares as an annual bonus indicates positive performance recognition.

Future Outlook

The reporting person will continue to receive restricted stock vesting over the next five years, contingent on continued employment.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.

Key Dates