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J. Powell Brown

President and Chief Executive Officer at BROWN & BROWN
Board
Since July 2009
Age
57 years
Tenure
Joined the company in 1995 and has held roles including regional executive vice president starting in 2002, President since January 2007, and Chief Executive Officer since July 2009.

Also at BROWN & BROWN

CLW
Chris L. Walker
EVP, President of National Programs
JSP
J. Scott Penny
EVP, Chief Acquisitions Officer
JLT
Julie L. Turpin
EVP, Chief People Officer

About

J. Powell Brown has deep family roots in the business, being the son of J. Hyatt Brown, the Chairman, and having a brother who is a senior executive in the company.

Since joining the firm in 1995, his career trajectory showcases a rapid and steady progression with key roles such as a regional executive vice president starting in 2002, appointment as President in January 2007, and elevation to Chief Executive Officer in July 2009.

In addition to his leadership within the company, he has enhanced his corporate governance experience by serving on the board of WestRock Company from 2010 until 2024. His tenure has been marked by significant contributions to the company’s performance, including driving organic revenue growth and margin improvement.

$BRO Performance Under J. Powell Brown

Past Roles

OrganizationRoleDate RangeDetails
WestRock Company Board of Directors Member 2010 - 2024 Former board membership
Brown & Brown, Inc. (BRO) Regional Executive Vice President 2002 - January 2007 Served as Regional EVP before his promotion to President
Brown & Brown, Inc. (BRO) Various Capacities 1995 - January 2007 Held multiple roles overseeing company segments prior to becoming President

Fixed Compensation

Data from  FY 2023
Component NameAmountPayment ScheduleAdditional Details
Salary$1,000,000 Annual 2023Fixed annual base salary
Company Contributions to Retirement/401(k)$13,200 Annual 2023Contributions to retirement and 401(k) plans
Perquisites and Other Personal Benefits$5,908 Annual 2023Includes reimbursement for financial and tax planning, club memberships, and car service expenses
Cash Dividends on Stock Awards$289,170 Annual 2023Cash dividends paid on granted PSP, 2010 SIP, and 2019 SIP shares
Other Compensation$36,267 Annual 2023Relocation expenses including $30,279 for housing and $5,988 for airline fare

Performance Compensation

Data from  FY 2023

Cash Incentive Payout

MetricWeightTargetActualPercentage of TargetPayout PercentageDollar Amount Component
Company Organic Revenue Growth40%6.1% 10.2% 167% 200% Part of $5,500,000 Total
Adjusted EBITDAC Margin40%33.1% 34.2% 158% 158% Part of $5,500,000 Total
Personal Objectives20%N/AN/AN/A200% Part of $5,500,000 Total
Overall100%$3,000,000 TargetN/AN/AN/A$5,500,000 Actual

Evaluation Period: 2023 Conditions: Payouts are based on achieving specified performance thresholds (with no payout below threshold) and may reach up to 200% of the target based on the company’s performance. The cash incentive is adjusted based on actual performance relative to metrics.

Equity Awards

Performance Award (75% of Long-Term Awards)

  • Grant Date: February 20, 2023
  • Grant Date Fair Value: $2,191,863
  • Shares Granted:
    • Threshold: 0 shares
    • Target: 39,015 shares
    • Maximum: 78,030 shares
  • Vesting Schedule: Vesting is conditioned on continuous employment for five years

Restricted Award (25% of Long-Term Awards)

  • Grant Date: February 20, 2023
  • Grant Date Fair Value: $750,000
  • Shares Granted: 13,005 shares
  • Vesting Schedule: Vesting is conditioned on continuous employment for five years

Evaluation Period for Equity Awards: 2023 with a service-based vesting over a five-year period.