SEC Form 4 · accession 0001225208-16-030208
BROWN & BROWN, INC. · BRO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert W Lloyd
Officer — EVP, Secy, General Counsel
Period of report
Mar 23, 2016
Accepted (ET)
Mar 23, 2016 · 5:03 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000079282
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $.10 par value (SIP)F1 | Mar 23, 2016 | A | 14,620 | $0.00 | A | 40,209 | D | |
| Common Stock, $.10 par value (SIP)F2 | Mar 23, 2016 | A | 1,762 | $0.00 | A | 41,971 | D | |
| Common Stock, $.10 par valueF3 | holding | — | — | — | 2,233 | D | ||
| Common Stock, $.10 par value (PSP)F4 | holding | — | — | — | 16,124 | D | ||
| Common Stock, $.10 par valueF5 | holding | — | — | — | 2,972 | I | By 401k |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1These securities were granted pursuant to the Company's 2010 Stock Incentive Plan ("SIP"). The initial grant was made on January 18, 2011, but was subject to the satisfaction of performance-based conditions established in connection with the grant. On March 23, 2016, the Company confirmed the satisfaction of the performance-based conditions established in connection with this grant, and the Reporting Person has voting rights and dividend entitlement with respect to these shares, but full ownership will not vest until the satisfaction of additional service-based conditions.
- F2These securities were granted pursuant to the SIP. The Reporting Person has voting rights and dividend entitlement with respect to a portion of these shares, but full ownership will not vest until the satisfaction of service-based conditions.
- F3A total of 939 of these shares were acquired through the Company's Employee Stock Purchase Plan in July 2015. Number of shares may vary due to dividend reinvestment.
- F4These securities were granted pursuant to the Company's Performance Stock Plan ("PSP"). Based on the satisfaction of conditions established pursuant to the PSP, the Reporting Person has voting rights and dividend entitlement with respect to a portion of these shares based on the satisfaction of certain performance-based criteria, but full ownership will not vest until the satisfaction of additional conditions.
- F5Based upon information supplied by the plan recordkeeper as of December 31, 2015. Number of shares varies periodically based on contributions to plan.