Watts R. Andrew 4

What Happened

• Watts R. Andrew, EVP, Chief Financial Officer and Treasurer of Brown & Brown, was granted two awards on Feb 26, 2026 totaling 32,077 shares (26,010 shares and 6,067 shares). Each grant shows an acquisition price of $0, so the reported acquisition value is $0. These are equity awards under the company's 2019 Stock Incentive Plan (restricted stock-type awards), not open-market purchases or sales.

Key Details

• Transaction date: 2026-02-26; Filing date: 2026-03-02 (filed within the typical 2-business-day Form 4 window).
• Price: $0.00 per share (award/grant), reported total value $0.
• Shares owned after transaction: not specified in the filing.
• Footnotes:
  • F1: The initial grant (originating Feb 20, 2023) had performance conditions that were confirmed satisfied on Feb 26, 2026; Andrew has voting and dividend rights on these shares but full ownership vests only after additional service-based conditions.
  • F2: The second grant likewise carries voting/dividend rights but vests upon satisfaction of service-based conditions.
  • F3: 248 of the reported shares were acquired earlier through the Company's Teammate Stock Purchase Plan (July 2025); share counts may vary due to dividend reinvestment.
• Transaction type code: A = Award/Grant.

Context

• These are compensation awards (restricted shares) under the 2019 SIP. Although granted at no cash cost to the insider, the shares are subject to vesting conditions (performance and/or continued service) and therefore do not represent an immediate open-market investment by the insider.
• For retail investors, awards like this typically reflect executive compensation arrangements rather than a direct buy/sell signal; purchases or open-market sales are often more indicative of personal trading sentiment.