Bigh, Llc - May 12, 2025 Form 4 Insider Report for Baldwin Insurance Group, Inc. (BWIN)

Role: Member of 10% Owner Group, 10%+ Owner
Signature: /s/ Seth Cohen, as Attorney-in Fact, for BIGH, LLC
Stock symbol: BWIN
Transactions as of: May 12, 2025
Transactions value $: $0
Form type: 4
Date filed: 5/14/2025, 05:42 PM
Previous filing: Mar 5, 2025
Next filing: Jun 11, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
BIGH, LLC	Member of 10% Owner Group, 10%+ Owner	4211 W. BOY SCOUT BLVD., SUITE 800, TAMPA	/s/ Seth Cohen, as Attorney-in Fact, for BIGH, LLC	2025-05-14	0001787620

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BWIN	Class B Common Stock	Other	$0	-30K	-0.23%	$0.00	12.7M	May 12, 2025	Direct	F1, F2
transaction	BWIN	Class B Common Stock	Other	$0	-62.5K	-0.49%	$0.00	12.7M	May 12, 2025	Direct	F2, F3
transaction	BWIN	Class B Common Stock	Other	$0	-62.5K	-0.49%	$0.00	12.6M	May 12, 2025	Direct	F2, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BWIN	LLC Units in The Baldwin Insurance Group Holdings, LLC	Other	$0	-30K	-0.23%	$0.00	12.7M	May 12, 2025	Class A Common Stock	30K	$0.00	Direct	F1, F2, F5
transaction	BWIN	LLC Units in The Baldwin Insurance Group Holdings, LLC	Other	$0	-62.5K	-0.49%	$0.00	12.7M	May 12, 2025	Class A Common Stock	62.5K	$0.00	Direct	F2, F3, F5
transaction	BWIN	LLC Units in The Baldwin Insurance Group Holdings, LLC	Other	$0	-62.5K	-0.49%	$0.00	12.6M	May 12, 2025	Class A Common Stock	62.5K	$0.00	Direct	F2, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These securities were distributed to a member of the reporting person in exchange for a corresponding reduction in such member's ownership of the reporting person.
F2	The reporting person disclaims beneficial ownership in these securities except to the extent of its pecuniary interest therein.
F3	The securities were distributed by the reporting person to the L. Lowry Baldwin Revocable Family Trust (the "Baldwin Revocable Trust"), of which L. Lowry Baldwin (who is the sole manager of the manager of the reporting person and who is deemed to have beneficial ownership of the securities held by the reporting person to the extent of his pecuniary therein) is sole trustee, in exchange for a corresponding reduction in the Baldwin Revocable Trust's ownership of the reporting person.
F4	The securities were distributed by the reporting person to The Pop Pop Trust, of which L. Lowry Baldwin (who is the sole manager of the manager of the reporting person and who is deemed to have beneficial ownership of the securities held by the reporting person to the extent of his pecuniary therein) is sole trustee, in exchange for a corresponding reduction in The Pop Pop Trust's ownership of the reporting person.
F5	Each LLC Unit, together with a share of Class B common stock, may be exchanged by the holder into one share of Class A common stock at any time. The LLC Units do not expire.