Baldwin Insurance Group (BWIN) CEO pay: -$2.4M in FY2025 after Item 402(v) adjustments
$BWIN · Baldwin Insurance Group, Inc.Data through FY2025 — latest proxy filed 2026-04-22, checked for new filings 2026-08-21. Every number links to its source.
Pay vs. Performance (Compensation Actually Paid)
What the CEO was actually paid, by fiscal year
A negative figure is not pay returned. Compensation Actually Paid re-values unvested equity every year, so when a stock falls, the write-down on awards granted earlier can exceed everything granted that year. How CAP is calculated
What $100 invested was worth, company vs peer group
Pay by CEO — and how the company did on their watch
Item 402(v) reports CEO pay per person, so each row below is one CEO's own disclosed pay next to the company's performance over the same years. A CEO is counted as serving a year when the filing reports a non-zero amount for them.
| CEO | Years | Pay actually earned, total | $100 over their tenure | Net income |
|---|---|---|---|---|
| Trevor Baldwin | FY2020–FY2025 | $21.7M | $186.73 → $80.18 | -$29.9M → -$54.2M |
Pay-vs-performance disclosure began with FY2022 filings, so this window reaches back 6 fiscal years — there is no earlier CEO pay in the SEC's structured data.
Pay-vs-Performance table
| FY | CEO pay on paper | CEO pay actually earned | Other top execs (avg) | Value of $100 invested since FY2020 | Same, peer group since FY2020 | Net income |
|---|---|---|---|---|---|---|
| 2025 | $5.3M | -$2.4M | -$802,275 | $80.18 | $164.75 | -$54.2M |
| 2024 | $5.7M | $11.5M | $4.9M | $241.50 | $192.83 | -$41.1M |
| 2023 | $6.4M | $3.7M | $3.0M | $149.66 | $158.02 | -$164.0M |
| 2022 | $4.8M | $3.8M | -$691,351 | $156.64 | $144.45 | -$76.7M |
| 2021 | $3.4M | $3.9M | $3.3M | $224.99 | $147.05 | -$58.1M |
| 2020 | $1.1M | $1.1M | $6.8M | $186.73 | $106.87 | -$29.9M |
A negative figure is not pay returned. Compensation Actually Paid re-values unvested equity every year, so when a stock falls, the write-down on awards granted earlier can exceed everything granted that year. How CAP is calculated
Frequently asked
How much did Trevor Baldwin make in 2025?
-$2,411,859 in Compensation Actually Paid (CAP) as Baldwin Insurance Group, Inc.'s CEO, updated 2026-04-22. CAP is negative here: Item 402(v) adjustments to prior-year equity and pension values exceeded the year's reported total. It is an SEC-defined fair-value measure, not an amount repaid.
What is pay vs. performance (PvP)?
An SEC disclosure (Item 402(v), required since FY2022) linking named-executive pay to company total shareholder return (TSR) over up to 5 years.
What is Compensation Actually Paid (CAP)?
CAP starts from the Summary Compensation Table total and adjusts equity awards to fair value as of each year-end/vesting date, rather than grant-date value — see the glossary entry for the full walk-through.
Also on BWIN: SEC & DOJ enforcement actions · CEO track-record ranking · Glossary