Form 4: Hagerty Director Robert Kauffman Sells Class A Common Stock

Robert Kauffman, a director at Hagerty, Inc., executed multiple sales of Class A Common Stock between April 23 and April 25, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert Kauffman, a director of Hagerty, Inc. (HGTY), sold shares of Class A Common Stock over three days.
• On April 23, 2024, he sold 3,036 shares at a weighted average price of $9.07.
• On April 24, 2024, he sold 1,609 shares at a weighted average price of $9.01.
• On April 25, 2024, he sold 460 shares at a price of $9.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• Following these transactions, Kauffman directly owns no shares, but indirectly owns 3,418,967 shares through Aldel LLC, where he serves as manager and has voting and investment discretion.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The sales were conducted under a pre-arranged trading plan, so they don't necessarily reflect a negative outlook on the company. However, any insider selling can be perceived negatively by the market.

Industry Context

This filing is a routine disclosure of insider trading activity. It's important to monitor such filings to understand the sentiment of company insiders, although sales under a pre-arranged 10b5-1 plan are less indicative of current sentiment.

Stakeholder Impact

• Shareholders may react to the news of insider selling, although the impact may be mitigated by the fact that the sales were pre-planned.
• The impact on employees, customers, suppliers, and creditors is likely to be minimal.

Key Dates