Form 4: Hagerty Director Robert Kauffman Sells Class A Common Stock
SEC Form 4 Filing
Robert Kauffman, a director at Hagerty, Inc., executed multiple sales of Class A Common Stock between May 20 and May 22, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Robert Kauffman, a director of Hagerty, Inc., sold shares of Class A Common Stock over three days.
- On May 20, 2024, 415 shares were sold at $9 each.
- On May 21, 2024, 382 shares were sold at $9 each.
- On May 22, 2024, 111 shares were sold at a weighted average price of $9.00 to $9.02.
- The sales were conducted under a Rule 10b5-1 trading plan adopted on August 11, 2023.
- After these transactions, Kauffman indirectly owns 3,396,647 shares through Aldel LLC, where he serves as manager and has voting and investment discretion.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales by a company director. The sales were conducted under a pre-arranged trading plan, suggesting no immediate cause for alarm or excitement.
Industry Context
Sales by company directors are a normal part of corporate governance, but are closely watched by investors. Rule 10b5-1 plans allow insiders to sell shares over a period of time, reducing concerns about trading on inside information.
Stakeholder Impact
- The stock sales by a director could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2023-08-11 | Date of adoption of Rule 10b5-1 trading plan. |
| 2024-05-20 | Date of first reported transaction (sale of 415 shares). |
| 2024-05-21 | Date of second reported transaction (sale of 382 shares). |
| 2024-05-22 | Date of third reported transaction (sale of 111 shares). |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.