Form 4: Hagerty Director Robert Kauffman Sells Shares Under 10b5-1 Trading Plan
SEC Form 4
Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) between June 6 and June 10, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Robert Kauffman, a director of Hagerty, Inc., reported the sale of Class A Common Stock between June 6 and June 10, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
- On June 6, 2024, 8,851 shares were sold at a weighted average price of $9.92.
- On June 7, 2024, 5,865 shares were sold at a weighted average price of $9.95.
- On June 10, 2024, 11,049 shares were sold at a weighted average price of $10.06.
- Following these transactions, Robert Kauffman indirectly owns 3,311,115 shares through Aldel LLC.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting insider trading activity. The sales are conducted under a pre-arranged plan, which reduces the potential for negative sentiment. Neutral overall.
Industry Context
Insider selling can sometimes be interpreted negatively by the market, but sales under a 10b5-1 plan are often pre-scheduled and may not reflect the insider's current view of the company's prospects.
Stakeholder Impact
- The stock sales by a director could potentially create uncertainty among shareholders.
Key Dates
| Date | Description |
|---|---|
| 08/11/2023 | Date the Rule 10b5-1 trading plan was adopted by the Reporting Person |
| 06/06/2024 | Date of first reported transaction |
| 06/07/2024 | Date of second reported transaction |
| 06/10/2024 | Date of third reported transaction |
| 06/10/2024 | Date of Form 4 filing |
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