secwatch.observer — SEC 8-K summary
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Issuer:     BROWN & BROWN, INC. (BRO)
CIK:        0000079282
Form:       8-K
Filed at:   2025-02-25T23:59:59+00:00
Accession:  0000950170-25-026811
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/79282/000095017025026811/0000950170-25-026811-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/79282/000095017025026811/bro-20250223.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-026811

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