4//SEC Filing
Masters Kenneth R 4
Accession 0000079282-10-000030
CIK 0000079282other
Filed
Apr 28, 8:00 PM ET
Accepted
Apr 29, 7:00 PM ET
Size
14.7 KB
Accession
0000079282-10-000030
Insider Transaction Report
Form 4
Masters Kenneth R
Regional Executive VP
Transactions
- Disposition to Issuer
Common Stock, $.10 par value
2010-04-27−12,467→ 39,658 total - Award
Common Stock, $.10 par value
2010-04-27+12,467→ 52,125 total
Holdings
- 86(indirect: By Spouse)
Common Stock, $.10 par value
- 75,000
Stock Options
Exercise: $18.48From: 2017-11-26Exp: 2018-02-26→ Common Stock (75,000 underlying) - 9,256
Common Stock, $.10 par value
Footnotes (6)
- [F1]In February 2008, the reporting person was inadvertently awarded 12,467 shares under the Issuer's Performance Stock Plan (the "PSP") in excess of the maximum number of shares permitted to be awarded in a particular calendar year. In order to assure achievement of the full intent of that grant and the potential deductibility of associated expense upon vesting pursuant to Section 162(m) of the Internal Revenue Code, on April 27, 2010 the Compensation Committee replaced 12,467 shares previously awarded under the PSP with 12,467 new shares under the PSP with vesting conditions identical to those associated with the February 2008 grants.
- [F2]These securities were granted pursuant to the 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.
- [F3]A total of 1,674 of these shares were acquired through the Company's Employee Stock Purchase Plan in August 2008 and 1,547 in August 2009. Number of shares may reflect reinvested dividends.
- [F4]Reporting Person disclaims beneficial ownership in shares owned by Spouse of Reporting Person.
- [F5]by the Compensation Committee of the Board of Directors pursuant to the Company's 2000 Incentive Stock Option Plan (the "Plan").
- [F6]These options vest and become exercisable on 11/26/17 unless accelerated based on satisfaction of conditions established pursuant to the Plan.
Issuer
BROWN & BROWN INC
CIK 0000079282
Entity typeother
Related Parties
1- filerCIK 0001385816
Filing Metadata
- Form type
- 4
- Filed
- Apr 28, 8:00 PM ET
- Accepted
- Apr 29, 7:00 PM ET
- Size
- 14.7 KB