Form 4: Lowry Baldwin Reports Changes in BRP Group Holdings and Trust Ownership
SEC Form 4
Lowry Baldwin, a director and significant shareholder of BRP Group, Inc., reports transactions involving Class A and B common stock, as well as LLC Units, through Baldwin Insurance Group Holdings, LLC and a family trust.
Summary
- Lowry Baldwin, a director and 10% owner of BRP Group, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On March 11, 2024, Baldwin Insurance Group Holdings, LLC (BIGH) distributed 2,117,388 Class B Common Stock to a member in exchange for a reduction in their ownership of BIGH.
- Also on March 11, 2024, BIGH distributed 100,000 Class B Common Stock to the L. Lowry Baldwin Revocable Family Trust in exchange for a reduction in the Trust's ownership of BIGH.
- The Baldwin Revocable Trust acquired 100,000 Class A Common Stock on March 11, 2024.
- The Baldwin Revocable Trust sold 62,629 Class A Common Stock on March 11, 2024, at an average price of $28.94.
- The Baldwin Revocable Trust sold 19,251 Class A Common Stock on March 12, 2024, at an average price of $28.55.
- The Baldwin Revocable Trust sold 18,120 Class A Common Stock on March 12, 2024, at an average price of $29.31.
- These transactions also involved corresponding changes in LLC Units in Baldwin Risk Partners, LLC, which are exchangeable for Class A Common Stock.
Sentiment
Score: 5
Explanation: This is a neutral report of transactions. There is no inherent positive or negative sentiment associated with the filing itself.
Industry Context
Form 4 filings are standard practice for insiders of publicly traded companies to report changes in their ownership positions. This filing provides transparency to the market regarding the transactions of a key executive and significant shareholder of BRP Group, Inc.
Stakeholder Impact
- Shareholders may be interested in the transactions of a key executive and significant shareholder.
- The transactions themselves may have a minor impact on the stock price due to the volume of shares involved.
Key Dates
| Date | Description |
|---|---|
| 03/11/2024 | Distribution of Class B Common Stock and LLC Units within Baldwin Insurance Group Holdings, LLC and to the Baldwin Revocable Trust; Acquisition of Class A Common Stock by the Baldwin Revocable Trust; Sale of Class A Common Stock by the Baldwin Revocable Trust. |
| 03/12/2024 | Sale of Class A Common Stock by the Baldwin Revocable Trust. |
| 03/13/2024 | Date of Form 4 signature. |
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