BROWN & BROWN, INC. — Director's Dealing 2023

Jan 30, 2023

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: BROWN & BROWN, INC. (BRO)
CIK: 0000079282
Period of Report: 2022-12-31

Reporting Person: Watts R. Andrew (EVP, CFO and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-12-27	Common Stock, $.10 par value	G	1052	$0.00	Acquired	1908	Indirect
2022-12-27	Common Stock, $.10 par value	G	1052	$0.00	Disposed	136961	Direct
2022-12-29	Common Stock, $.10 par value	G	2260	$0.00	Disposed	136961	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.10 par value (2010 SIP)	68140	Direct
Common Stock, $.10 par value (2019 SIP)	39310	Direct

Footnotes

F1: On December 27, 2022, the Reporting Person transferred 1,052 shares of common stock to a family trust, of which the Reporting Person and his spouse are trustees. The Reporting Person's children are the sole beneficiaries of the trust.

F2: A total of 460 of these shares were acquired through the Company's Employee Stock Purchase Plan in July 2022. Number of shares may vary due to dividend reinvestment.

F3: These securities were granted pursuant to the Company's 2010 Stock Incentive Plan ("2010 SIP"). The Reporting Person has voting rights and dividend entitlement with respect to these shares, but full ownership will not vest until the satisfaction of service-based conditions.

F4: These securities were granted pursuant to the Company's 2019 Stock Incentive Plan ("2019 SIP"). The Reporting Person has voting rights and dividend entitlement with respect to these shares, but full ownership will not vest until the satisfaction of service-based conditions.