Form 4: Brown & Brown Executive's Stock Transaction for Tax Obligations

Stephen M. Boyd, EVP/President of Brown & Brown's Specialty Distribution Segment, reported a disposition of shares to cover tax liabilities related to stock vesting.

Summary

• Stephen M. Boyd, an Executive Vice President and President of the Specialty Distribution Segment at Brown & Brown, Inc., reported a transaction on February 23, 2026.
• 7,712 shares of Common Stock were disposed of at a price of $69.59 per share.
• This disposition was solely to cover income tax withholding requirements associated with the vesting of 15,157 shares under the Company's 2019 Stock Incentive Plan.
• Following this transaction, Boyd beneficially owns 83,081 shares of Common Stock directly and 44,454 shares of Common Stock directly under the 2019 SIP.
• 248 of the 83,081 shares were acquired through the Company's Teammate Stock Purchase Plan in July 2025.
• The 44,454 shares from the 2019 SIP have voting rights and dividend entitlement but full ownership is subject to service-based vesting conditions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a standard administrative transaction for tax purposes related to executive compensation, with no direct implications for company performance or future prospects.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that routine insider transactions, such as those for tax withholding related to equity compensation, are common across industries and typically do not signal significant shifts in company strategy or performance. This transaction reflects standard compensation practices for executives.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine tax-related transaction by an executive, not a discretionary sale indicating a change in sentiment or company fundamentals.

Key Dates

Keywords

Brown & Brown, BRO, Stephen M. Boyd, SEC Form 4, Insider Transaction, Stock Incentive Plan, Tax Withholding, Equity Compensation, Beneficial Ownership