BROWN & BROWN, INC. — Director's Dealing 2003

Mar 26, 2003

4 1 form4.htm FORM 4 -- POWELL BROWN

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(Print or Type Responses)

1. Name and Address of Reporting Person* Brown J. Powell	2. Issuer Name and Ticker or Trading Symbol Brown & Brown, Inc. (BRO)
								Director	10% Owner
							X	Officer (give title below)	Other (specify below)
							Regional Executive Vice President
(Last) (First) (Middle) 2600 Lake Lucien Dr., Ste. 330	3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)		4. Statement for Month/Day/Year March 24, 2003				7. Individual or Joint/Group Filing (Check Applicable Line)
			5. If Amendment, Date of Original (Month/Day/Year)				X	Form filed by One Reporting Person
(Street) Orlando FL 32751								Form filed by More than One Reporting Person
(City) (State) (Zip)	Table I ¾ Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Trans- action Date (Month/ Day/ Year)	2A. Deemed Execution Date, if any (Month/ Day/ Year)	3. Trans- action Code (Instr.8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Owner- ship Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Owner- ship (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $.10 par value	3/24/03		A		8,570(1)	A	N/A	34,780	I	Stock Performance Plan
Common Stock, $.10 par value								470,793	D
Common Stock, $.10 par value								4,844	I	401(k) Plan(2)
Common Stock, $.10 par value								1, 295	I	Children(3)

If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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FORM 4 (continued) — 1. Title of Derivative Security (Instr. 3)	Table II ¾ Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) — 2. Conver- sion or Exercise Price of Deri- vative Security	3. Trans- action Date (Month/ Day/ Year)	4. Trans- action Code (Instr.8)		5. Number of Deriv- ative Securities Acquired (A) or Dis- posed of (D) (Instr. 3, 4 and 5)		6. Date Exer- cisable and Expiration Date (Month/Day/ Year)		7. Title and Amount of Underlying Securities (Instr. 3 and 4)	8. Price of Deriv- ative Secur- ity (Instr. 5)	9. Number of deriv- ative Secur- ities Bene- ficially Owned Follow- ing Reported Trans- action(s) (Instr. 4)	10. Owner- ship Form of Deri- vative Security: Direct (D) or Indirect (I) (Instr. 4)
			Code	V	(A)	(D)	Date Exer- cisable	Expira- tion Date	Title	Amount or Number of Shares
Stock Options(a)	$ 9.6719						4/21/03(b)	4/20/10	Common Stock	10,340		D
	9.6719						4/21/04(b)	4/20/10	Common Stock	10,340		D
	9.6719						4/21/05(b)	4/20/10	Common Stock	10,340		D
	9.6719						4/21/06(b)	4/20/10	Common Stock	8,980		D
	$31.56	3/24/03	A		25,000(c)		3/23/13(b)	3/24/13	Common Stock	25,000	65,000	D

Explanation of Responses:
(1) These securities were granted at various dates throughout the year pursuant to the Company's Stock Performance Plan based on the satisfaction of conditions contained in that Plan. The recipient has voting
rights and dividend entitlements with respect to these shares, but full ownership will not vest until the satisfaction of additional conditions. (2) These securities were acquired on a periodic basis pursuant to an employee benefit plan. (3) Reporting person disclaims beneficial ownership of securities owned by children who share reporting person's household. This report shall not be deemed an admission that the reporting person is the
beneficial owner of such securities for the purpose of Section 16 or for any other purpose. (a) Granted by the Compensation Committee of the Board Directors pursuant to the Company's 2000 Incentive Stock Option Plan (the "Plan"). Consideration for granted options is grantee's performance and
continued service with Company as specified in the Plan. (b) Due to the satisfaction of conditions established pursuant to the Plan, 10,340 options will vest and become exercisable on each of April 21, 2003, 2004, and 2005, and 8,980 options will vest and become
exercisable on April 21, 2006 , subject to grantee's continued service with Company as specified in the Plan. (c) These options vest and become exercisable on 3/23/13, unless accelerated based on satisfaction of conditions established pursuant to the Plan.
		/S/ J. POWELL BROWN	3/26/03
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations.	**Signature of Reporting Person	Date
	See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	J. POWELL BROWN

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