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

Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) between March 12 and March 14, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Robert Kauffman, a director of Hagerty, Inc. (HGTY), sold shares of Class A Common Stock between March 12 and March 14, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On March 12, 2024, 2,529 shares were sold at $9.
• On March 13, 2024, 5,729 shares were sold at $9.
• On March 14, 2024, 1,617 shares were sold at $9.
• Following these transactions, Mr. Kauffman indirectly owns 3,454,440 shares through Aldel LLC, where he serves as manager and has voting and investment discretion.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of 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 sales are pre-planned under a 10b5-1 plan, which reduces the signal value.

Stakeholder Impact

• The share sales may have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely to be minimal given the relatively small number of shares sold compared to the total outstanding shares.

Key Dates