Form 4: Brown & Brown EVP P. Barrett Brown Reports Stock Transaction
SEC Form 4 Filing
P. Barrett Brown, EVP and President of Retail Segment at Brown & Brown, Inc., reports the withholding of shares to cover income tax obligations related to stock vesting.
Summary
- On February 25, 2024, P. Barrett Brown, an EVP and President at Brown & Brown, Inc., had 7,978 shares of common stock withheld by the company to cover income tax withholding requirements.
- This was related to the vesting of 17,789 shares of stock under the company's 2010 Stock Incentive Plan.
- Following the transaction, Brown directly owns 1,340,031 shares of common stock, 71,611 shares under the 2019 SIP, and indirectly owns 2,054,950 shares through a Charitable Lead Annuity Trust, 10,601 shares through a 401k, and 2,324 shares through children.
- The price per share for the transaction was $84.24.
Sentiment
Score: 6
Explanation: The sentiment is neutral. This is a routine transaction related to tax obligations on vested stock. It doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like P. Barrett Brown, transact in their company's stock. These filings provide transparency to the market regarding the buying and selling activities of those with privileged information.
Comparison to Industry Standards
- Monitoring Form 4 filings is a common practice in the financial industry to gauge insider sentiment.
- Comparing the volume and frequency of insider transactions at Brown & Brown to those of its competitors, such as Marsh & McLennan Companies (MMC) or Aon (AON), can provide insights into the relative confidence levels of executives in their respective companies.
- For example, a higher ratio of insider buying to selling might suggest a more optimistic outlook compared to peers.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders.
- It provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 02/25/2024 | Date of stock transaction (shares withheld for tax obligations). |
| 02/27/2024 | Date of signature for the report. |
| December 31, 2023 | Date of last information supplied by the plan record keeper. |
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