Form 4: Hagerty Director Robert Kauffman Sells Shares Under 10b5-1 Trading Plan

Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) between January 29 and January 31, 2025, 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 between January 29 and January 31, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
• On January 29, 2025, 3,836 shares were sold at a weighted average price of $9.72.
• On January 30, 2025, 2,643 shares were sold at a weighted average price of $9.72.
• On January 31, 2025, 4,453 shares were sold at a weighted average price of $9.72.
• Following these transactions, Robert Kauffman directly owns 53,474 shares and indirectly owns 4,335,107 shares through Aldel LLC.
• Kauffman disclaims beneficial ownership of the shares held by Aldel LLC except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, reporting insider transactions. The sales themselves don't necessarily indicate a positive or negative outlook, especially since they were conducted under a pre-arranged trading plan. Therefore, the sentiment is neutral.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on current inside information. Investors often monitor insider transactions for signals about a company's prospects, but sales under a 10b5-1 plan are generally viewed as less informative.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the pre-planned nature of the sales mitigates concerns about insider information.

Key Dates