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

Director Robert I. Kauffman of Hagerty, Inc. sold 3,465 shares of Class A Common Stock at a weighted average price of $9.02, according to a Form 4 filing with the SEC.

Summary

• Robert I. Kauffman, a director of Hagerty, Inc., sold 3,465 shares of Class A Common Stock on April 15, 2024.
• The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on August 11, 2023.
• The shares were sold at prices ranging from $9.00 to $9.07, with a weighted average price of $9.02.
• Following the transaction, Kauffman directly owns 3,465 shares and indirectly owns 3,424,072 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 filing reporting a routine transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider trading activity. It's common for executives and directors to sell shares under pre-arranged trading plans to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a director could have a minor negative impact on shareholder sentiment, but the effect is likely minimal given the pre-planned nature of the transaction.

Key Dates