v3.25.1
SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
The Company evaluated subsequent events and transactions from the consolidated balance sheet date through the date at which the consolidated financial statements were issued.
Stock repurchase program—On April 9, 2025, the Board of Directors of the Company approved a $15 million stock repurchase program in effect for eighteen months.
NIB Acquisition—On April 24, 2025, the Company completed the acquisition of National Insurance Brokerage, LLC ("NIB"), a Delaware limited liability company (the “NIB Acquisition”). NIB was wholly owned by Jay Jackson, Chief Executive Officer of the Company, who held a 25% beneficial interest in NIB, and KMG Group Holdings, LLC ("KMG"), who held a 75% beneficial interest in NIB (the "Sellers"). KMG is equally owned by Matthew Ganovsky, Co-Founder and President, K. Scott Kirby, Co-Founder and President, and Sean McNealy, Co-Founder and President. The Company paid $3,000,000 in cash to acquire 100% of the interest in NIB.