Form 4: Hagerty Director Robert I. Kauffman Sells Over 39,000 Shares Under Pre-Arranged Trading Plan
Insider Transaction Report
Hagerty, Inc. Director Robert I. Kauffman reported the sale of 39,669 shares of Class A Common Stock over three days in late June 2025, executed under a pre-existing Rule 10b5-1 trading plan.
Summary
- Robert I. Kauffman, a Director of Hagerty, Inc. (HGTY), reported the sale of 39,669 shares of Class A Common Stock.
- The sales occurred over three separate transactions from June 25, 2025, to June 27, 2025.
- These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Kauffman on August 9, 2024.
- On June 25, 2025, 12,610 shares were sold at a weighted average price of $10.05 per share.
- On June 26, 2025, 19,627 shares were sold at a weighted average price of $10.14 per share.
- On June 27, 2025, 7,432 shares were sold at a weighted average price of $10.12 per share.
- Following these transactions, Mr. Kauffman, through Aldel LLC, beneficially owns 3,698,835 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral. While it's an insider sale, it was conducted under a pre-arranged Rule 10b5-1 trading plan, which suggests a planned diversification or liquidity event rather than a reaction to negative company-specific news. The sale represents a small fraction of the director's total holdings.
Negatives
- A director selling shares, even under a 10b5-1 plan, can sometimes be perceived negatively by investors as it reduces insider ownership.
Future Outlook
NA
Industry Context
This Form 4 filing details an insider stock transaction, which is a routine disclosure requirement for public company directors and officers. It does not provide information on broader industry trends or competitive landscape.
Stakeholder Impact
- Shareholders may perceive the insider sale as a slight negative, although the existence of a Rule 10b5-1 plan mitigates concerns about opportunistic selling.
Key Dates
| Date | Description |
|---|---|
| 08/09/2024 | Date Rule 10b5-1 trading plan was adopted by the Reporting Person. |
| 06/25/2025 | Transaction date for the sale of 12,610 shares of Class A Common Stock. |
| 06/26/2025 | Transaction date for the sale of 19,627 shares of Class A Common Stock. |
| 06/27/2025 | Transaction date for the sale of 7,432 shares of Class A Common Stock and filing date of the Form 4. |
Keywords
Hagerty Inc., HGTY, SEC Form 4, Insider Trading, Stock Sale, Robert I. Kauffman, Director, Rule 10b5-1 Plan, Class A Common Stock, Aldel LLC
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