4/A: Hagerty CFO Reports Amended Transaction: Tax Withholding on RSU Vesting

Patrick McClymont, CFO of Hagerty, Inc., files an amended Form 4 to reflect the withholding of shares for taxes upon the vesting of restricted stock units (RSUs) on April 1, 2024.

Summary

• Patrick McClymont, the Chief Financial Officer of Hagerty, Inc., filed an amended Form 4 with the SEC.
• The amendment clarifies the number of Class A Common Stock shares withheld for taxes upon the vesting of restricted stock units (RSUs) on April 1, 2024.
• The original Form 4, filed on April 3, 2024, reported the grant of RSUs but did not detail the tax withholding.
• A total of 11,034 shares were withheld for taxes at a price of $9.13 per share.
• Following the transaction, McClymont directly owns 211,071 shares of Class A Common Stock.
• The RSUs vest in equal amounts annually until April 1, 2027, contingent upon continued service, with exceptions for death, disability, retirement, or a change of control.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating standard corporate governance practices. There is no information to suggest a positive or negative outlook, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency and compliance with SEC regulations.

Stakeholder Impact

• Shareholders are informed about the CFO's stock transactions, promoting transparency.

Key Dates