Form 4: Brown & Brown Executive Chris L. Walker Reports Stock Transactions
SEC Form 4 Filing
EVP Chris L. Walker reports stock transactions related to vesting of shares and tax withholding requirements under Brown & Brown's 2019 Stock Incentive Plan.
Summary
- Chris L. Walker, EVP and President of Programs Division at Brown & Brown, Inc., filed a Form 4 detailing changes in beneficial ownership of company stock.
- On February 21, 2025, 2,881 shares were withheld to cover income tax withholding for vested shares under the 2019 Stock Incentive Plan (SIP) at a price of $111.65.
- On February 23, 2025, 1,650 shares were withheld for income tax withholding related to the vesting of shares under the 2019 SIP at a price of $111.71.
- On February 24, 2025, Walker acquired 11,338 shares and 2,014 shares pursuant to the 2019 SIP.
- Following these transactions, Walker beneficially owns 158,351 shares, 159,949 shares, 53,081 shares and 55,095 shares of Brown & Brown, Inc. common stock.
- A total of 357 shares were acquired through the Company's Employee Stock Purchase Plan in July 2024.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It doesn't contain information that would significantly shift investor sentiment.
Positives
- The reporting person acquired shares pursuant to the 2019 SIP.
Future Outlook
The reporting person has dividend equivalent entitlement, but shares will not be delivered until the satisfaction of service-based conditions or the Reporting Person's qualified retirement.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity related to stock-based compensation plans, which are common in the industry.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they relate to executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 02/21/2022 | Initial grant was made on February 21, 2022, but was subject to the satisfaction of performance-based conditions established in connection with this grant. |
| July 2024 | A total of 357 of these shares were acquired through the Company's Employee Stock Purchase Plan in July 2024. |
| 02/21/2025 | Transaction date: 2,881 shares withheld for tax withholding. |
| 02/23/2025 | Transaction date: 1,650 shares withheld for tax withholding. |
| 02/24/2025 | Transaction date: Company confirmed the satisfaction of the performance-based conditions established in connection with this grant, and the Reporting Person has dividend equivalent entitlement, but shares will not be delivered until the satisfaction of service-based conditions or the Reporting Person's qualified retirement. |
| 02/24/2025 | Date of report. |
Keywords
Form 4, Beneficial Ownership, Stock Incentive Plan, Stock, Brown & Brown, Walker, Transactions
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