8-KItem 5.02 · Officer/Director Change
Brown & Brown executive P. Barrett Brown resigns under transition agreement
Filed with the SEC on · Summarized by InvestorsBot
P. Barrett Brown voluntarily resigned for good reason as an officer of Brown & Brown and its affiliates on August 10, 2026, but will remain employed through July 31, 2027, earning his $1 million annual salary and a potential $1.3 million transition bonus. The agreement also provides a $130,000 expense payment and $2.5 million in severance paid in August 2027 and August 2028, subject to continued employment and release conditions; Brown agreed to a one-year noncompete.