Brown & Brown appoints Stephen P. Hearn as COO effective March 3, 2025; discloses 2025 executive compensation targets.

BROWN & BROWN, INC.

Stephen P. Hearn appointed EVP & COO effective March 3, 2025; resigned from board Feb 23, 2025.
Hearn receives £588,800 annual salary, £1,213,000 2025 target cash incentive, and equity grants.
Hearn previously CEO of Ardonagh Capital Solutions and Inver Re; insurance career since 1989.
Compensation Committee set 2025 cash incentive targets: CEO J. Powell Brown $3.75M; other NEOs $1.0-1.8M.
Incentive formula: 40% organic revenue growth, 40% adjusted EBITDAC margin, 20% personal objectives; payout 0-200% of target.

item 5.02

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Appointed

Stephen P. Hearn

Executive Vice President and Chief Operating Officer

BRO · BROWN & BROWN, INC.

Effective: 2025-03-03
Filed: February 25, 2025, 6:59 PM ET

Mr. Hearn will become the Company's Executive Vice President and Chief Operating Officer, effective March 3, 2025.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Stephen P. Hearn was appointed as Executive Vice President and Chief Operating Officer at BROWN & BROWN, INC..

Action: appointed
Role: Executive Vice President and Chief Operating Officer

Exact text from the filing

Mr. Hearn will become the Company's Executive Vice President and Chief Operating Officer, effective March 3, 2025.

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Source: SEC EDGAR

accession 0000950170-25-026811

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