Brown & Brown sets 2023 cash incentive targets for named executive officers; CEO target $3M

BROWN & BROWN, INC.

2023 cash incentive for NEOs based 40% on organic revenue growth, 40% on adjusted EBITDAC margin, 20% on personal objectives.
CEO J. Powell Brown target $3M; other NEO targets: P. Barrett Brown $1.4M, R. Andrew Watts $850K, J. Scott Penny $900K, Chris L. Walker $1M.
Payout range 0% to 200% of target; Compensation Committee may adjust for unusual items.
Adjusted EBITDAC margin defined as income before taxes less amortization, depreciation, interest, and change in earn-out payables, further adjusted for certain acquisition costs and FX.

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