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Insurance

Baldwin Insurance Group Executive Compensation (FY25)

BWIN · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Trevor Baldwin
Latest say-on-pay support
=
June 4, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of October 19, 2026Latest filing (8-K): June 4, 2026
13 filings cited on this page
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298 figures on this page: 293 cited to the filing that reported them, 5 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Trevor Baldwin: $5,707,414 → $5,253,032 (8.0% lower)
Say-on-pay support: 97.3% → 95.8% (1.5 points lower)
CEO pay ratio: 70:1 → 63:1 (10.0% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Baldwin Insurance Group's chief executive and what were they paid?
Trevor Baldwin, Chief Executive Officer, received $5,253,032 in total compensation for fiscal 2025. Compared with the $5,707,414 reported for fiscal 2024, Baldwin's total was 8.0% lower.
What was Baldwin Insurance Group's say-on-pay result?
The say-on-pay proposal drew 95.8% of votes cast for or against in favor at the meeting held June 4, 2026 for fiscal 2025.
Which companies are in Baldwin Insurance Group's peer group?
The disclosed peer group includes Brown & Brown, Inc., CBIZ, Inc., Employers Holdings, Inc., Erie Indemnity Company and Goosehead Insurance, Inc., among others.
What is Baldwin Insurance Group's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 63:1, against median employee compensation of $82,962.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Trevor Baldwin
Chief Executive Officer
◇—◇—◇——◇
Lowry Baldwin
Board Chair
◇—◇—◇——◇
Kris Wiebeck
Chief Strategy Officer
◇—◇—◇—◇◇
Daniel Galbraith
Chief Operating Officer
◇—◇—◇—◇◇
Brad Hale
Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Kris Wiebeck
Former Chief Strategy Officer
Departed during or after this year
◇—◇———◇◇
John Valentine
Former Chief Partnership Officer
Departed during or after this year
◇—◇———◇◇
Trevor Baldwin
Chief Executive Officer
◇—◇—◇——◇
Bradford Hale
Chief Financial Officer
◇—◇—◇—◇◇
Daniel Galbraith
President, BRP and Chief Executive Officer, Retail Brokerage Operations
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Trevor Baldwin
Chief Executive Officer
◇—◇—◇——◇
Daniel Galbraith
President, The Baldwin Group and Chief Executive Officer, Retail Brokerage Operations
◇◇◇—◇—◇◇
Bradford Hale
Chief Financial Officer
◇—◇—◇—◇◇
Jim Roche
President, The Baldwin Group and Chief Executive Officer, Underwriting, Capacity & Technology Operations
◇—◇—◇—◇◇
Seth Cohen
General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Trevor Baldwin
Chief Executive Officer
◇—◇—◇——◇
Jim Roche
President, The Baldwin Group and Chief Executive Officer, Underwriting, Capacity & Technology Operations
◇—◇—◇—◇◇
Daniel Galbraith
President, The Baldwin Group and Chief Executive Officer, Retail Brokerage Operations
◇—◇—◇—◇◇
Bradford Hale
Chief Financial Officer
◇—◇—◇—◇◇
Seth Cohen
General Counsel and Corporate Secretary
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Bradford HalePSU◇◇◇—◇—◇
Daniel GalbraithPSU◇◇◇—◇—◇
Jim RochePSU◇◇◇—◇—◇
Seth CohenPSU◇◇◇—◇—◇
Trevor BaldwinPSU◇◇◇—◇—◇
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Seth CohenPSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
Bradford HalePSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Jim RochePSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
Daniel GalbraithPSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
Trevor BaldwinPSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Bradford Hale
Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2025 filing
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Change-in-control base◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Daniel Galbraith
President, The Baldwin Group and Chief Executive Officer, Retail Brokerage Operations · Change-in-control agreement · citing a 2020 filing
Severance multiple◇
Severance base◇
Severance cash amount◇
Change-in-control multiple◇
Change-in-control base◇
Benefits continuation on change in control◇
Benefits continuation◇
Jim Roche
President, The Baldwin Group and Chief Executive Officer, Underwriting, Capacity & Technology Operations · Employment agreement · citing a 2025 filing
Change-in-control trigger◇
Excise tax treatment◇
Clawback◇
Seth Cohen
General Counsel and Corporate Secretary · Employment agreement · citing a 2023 filing
Change-in-control trigger◇
Excise tax treatment◇
Trevor Baldwin
Chief Executive Officer · Employment agreement · citing a 2020 filing
Change-in-control trigger◇
Non-compete period◇
Non-solicit period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Lowry Baldwin
Board chair
—————◇◇
Chris Sullivan
Lead independent director
◇◇————◇
Barbara Matas
◇◇————◇
Sathish Muthukrishnan
◇◇————◇
Joseph Kadow
◇◇————◇
Ellyn Shook
◇◇————◇
Jay Cohen
◇◇————◇
Sunita Parasuraman
◇◇————◇
Myron Williams
◇◇————◇
Paul Sparks and Trevor Baldwin served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Brown & Brown, Inc. BRO
  • CBIZ, Inc. CBZ
  • Employers Holdings, Inc. EIG
  • Erie Indemnity Company ERIE
  • Goosehead Insurance, Inc. GSHD
  • Hagerty, Inc. HGTY
  • Kinsale Capital Group, Inc. KNSL
  • Palomar Holdings, Inc. PLMR
  • Primerica, Inc. PRI
  • RLI Corp. RLI
  • Ryan Specialty Holdings, Inc. RYAN
  • Safety Insurance Group, Inc. SAFT
  • Selective Insurance Group, Inc. SIGI
  • Stewart Information Services Corp. STC

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 4, 2026=◇◇◇
2024June 5, 2025=◇◇◇
2023June 5, 2024=◇◇◇
2022June 5, 2023=◇◇◇
2021June 21, 2022=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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- Trevor Baldwin (Chief Executive Officer), FY2025 total compensation $5,253,032 (base salary $400,000) [exec_comp, SEC accession 0001781755-26-000027, filed 2026-04-22]

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What this page does not include

Everything above is a fact Baldwin Insurance Group disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Baldwin Insurance Group sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
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What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
298 figures on this page: 293 cited to the filing that reported them, 5 calculated from figures it prints.
293 cited to the filing
5 calculated from the filing

Documents cited

  1. 0001781755-26-000042
    Proposal 2—Advisory vote on the compensation of the Company’s named executive officers (“Say-on-Pay” vote) The shareholders voted to approve, on a non-binding advisory basis, the compensation of the C
  2. 0001781755-26-000027
    CEO Pay Ratio · Director Compensation · Outstanding Equity Awards at 2025 Fiscal Year-End · Summary Compensation Table · and 1 more section
  3. 0001781755-25-000076
    Proposal 2 — Advisory vote on the compensation of the Company’s named executive officers (“Say-on-Pay” vote) The shareholders voted to approve, on a non-binding advisory basis, the compensation of the
  4. 0001781755-25-000052
    Compensation Discussion and Analysis · Summary Compensation Table
  5. 0001781755-24-000035
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001193125-24-113925
    Summary Compensation Table
  7. 0001781755-23-000019
  8. 0001193125-23-115290
    Summary Compensation Table
  9. 0001214659-22-008250
  10. 0001193125-20-175557
    EX-10.2
  11. 0001781755-25-000017
    EX-10.7
  12. 0001781755-23-000006
    EX-10.9
  13. 0001781755-20-000022
    EX-10.1
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Velarion, “Baldwin Insurance Group executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/BWIN (accessed 2026).
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13 filings cited on this page
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Insurance rankings

Chief executive pay — InsuranceCEO pay ratio — InsuranceSay-on-pay support — Insurance

Peers Baldwin Insurance Group discloses

The companies named in BWIN's own disclosed peer group.

Brown & Brown, Inc.CBIZ, Inc.Employers Holdings, Inc.Erie Indemnity CompanyGoosehead Insurance, Inc.Hagerty, Inc.Kinsale Capital Group, Inc.Palomar Holdings, Inc.Primerica, Inc.RLI Corp.Ryan Specialty Holdings, Inc.Safety Insurance Group, Inc.Selective Insurance Group, Inc.Stewart Information Services Corp.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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