<SEC-DOCUMENT>0000950170-25-026805.txt : 20250225
<SEC-HEADER>0000950170-25-026805.hdr.sgml : 20250225
<ACCEPTANCE-DATETIME>20250225170007
ACCESSION NUMBER:		0000950170-25-026805
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250221
FILED AS OF DATE:		20250225
DATE AS OF CHANGE:		20250225

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Watts R. Andrew
		CENTRAL INDEX KEY:			0001600662
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13619
		FILM NUMBER:		25664545

	MAIL ADDRESS:	
		STREET 1:		300 N. BEACH STREET
		CITY:			DAYTONA BEACH
		STATE:			FL
		ZIP:			32114

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROWN & BROWN, INC.
		CENTRAL INDEX KEY:			0000079282
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE AGENTS BROKERS & SERVICES [6411]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				590864469
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			0119

	BUSINESS ADDRESS:	
		STREET 1:		300 N. BEACH STREET
		CITY:			DAYTONA BEACH
		STATE:			FL
		ZIP:			32114
		BUSINESS PHONE:		386-252-9601

	MAIL ADDRESS:	
		STREET 1:		300 N. BEACH STREET
		CITY:			DAYTONA BEACH
		STATE:			FL
		ZIP:			32114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROWN & BROWN, INC
		DATE OF NAME CHANGE:	20171108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BROWN & BROWN INC
		DATE OF NAME CHANGE:	19990623

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	POE & BROWN INC
		DATE OF NAME CHANGE:	19930827
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-02-21</periodOfReport>

    <issuer>
        <issuerCik>0000079282</issuerCik>
        <issuerName>BROWN &amp; BROWN, INC.</issuerName>
        <issuerTradingSymbol>BRO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001600662</rptOwnerCik>
            <rptOwnerName>Watts R. Andrew</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>330 N. BEACH STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DAYTONA BEACH</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>32114</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>EVP, CFO and Treasurer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.10 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2025-02-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>F</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>9938</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>111.65</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>101741</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.10 par value (2019 SIP)</value>
            </securityTitle>
            <transactionDate>
                <value>2025-02-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15874</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>87450</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.10 par value (2019 SIP)</value>
            </securityTitle>
            <transactionDate>
                <value>2025-02-24</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2909</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>90359</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, $.10 par value</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2728</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Watts Family Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Shares were withheld by the Company solely to cover the income tax withholding requirements associated with the vesting of 25,251 shares of stock under the Company's 2019 Stock Incentive Plan (&quot;2019 SIP&quot;).</footnote>
        <footnote id="F2">A total of 357 of these shares were acquired through the Company's Employee Stock Purchase Plan in July 2024. Number of shares may vary due to dividend reinvestment.</footnote>
        <footnote id="F3">These securities were granted pursuant to the 2019 SIP. The initial grant was made on February 21, 2022, but was subject to the satisfaction of performance-based conditions established in connection with this grant. On February 24, 2025, the Company confirmed the satisfaction of the performance-based conditions established in connection with this grant, and the Reporting Person has voting rights and dividend entitlement with respect to these shares, but full ownership will not vest until the satisfaction of additional service-based conditions.</footnote>
        <footnote id="F4">These securities were granted pursuant to the 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.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ R. Andrew Watts</signatureName>
        <signatureDate>2025-02-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
