SEC Form 4 · accession 0001379596-18-000008
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
Aug 3, 2018
Accepted (ET)
Aug 6, 2018 · 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 | Aug 3, 2018 | A | 21,712 | $0.00 | A | 66,398 | D | |
| Common Stock, $.10 par valueF2,F3 | Aug 3, 2018 | F | 882 | $29.19 | D | 23,859 | D | |
| Common Stock, $.10 par value (PSP)F4 | holding | — | — | — | 21,048 | D |
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 July 1, 2013, but was subject to the satisfaction of performance-based conditions established in connection with this grant. On August 3, 2018, 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 sahres, but full ownership will not vest until the satisfaction of additional service-based conditions.
- F2Shares were withheld by the Company solely to cover the income tax withholding requirements associated with the vesting of 3,620 shares of stock under the Company's SIP.
- F3A total of 1,120 of these shares were acquired through the Company's Employee Stock Purchase Plan in July 2018. 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 these shares based on the satisfaction of certain performance-based criteria, but full ownership will not vest until the satisfaction of additional conditions.