Form 4: Hagerty Director Robert Kauffman Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) between June 11 and June 13, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Robert Kauffman, a director of Hagerty, Inc. (HGTY), reported the sale of Class A Common Stock between June 11 and June 13, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
- On June 11, 2024, 5,599 shares were sold at a weighted average price of $9.95, with prices ranging from $9.92 to $10.00.
- On June 12, 2024, 11,225 shares were sold at a weighted average price of $10.10, with prices ranging from $9.97 to $10.20.
- On June 13, 2024, 10,225 shares were sold at a weighted average price of $10.23, with prices ranging from $9.92 to $10.33.
- Following these transactions, Mr. Kauffman indirectly owns 3,284,066 shares through Aldel LLC, where he serves as manager and has voting and investment discretion.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing regarding insider trading activity under a pre-arranged plan, so it's neutral in sentiment.
Industry Context
Insider trading activity is always closely watched by investors as it can provide signals, though in this case the trading is pre-planned and less likely to be informative.
Stakeholder Impact
- The sale of shares by a director could have a minor negative impact on shareholder sentiment, although the existence of a pre-arranged trading plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 08/11/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 06/11/2024 | Date of first reported transaction |
| 06/12/2024 | Date of second reported transaction |
| 06/13/2024 | Date of third reported transaction and filing date of the Form 4 |
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