Form 4: Hagerty Director Sells Over 50,000 Shares Under Pre-Arranged Trading Plan

Robert I. Kauffman, a Director of Hagerty, Inc., sold 50,567 shares of Class A Common Stock across three transactions in late June 2025, pursuant to a Rule 10b5-1 trading plan.

Summary

• Robert I. Kauffman, a Director of Hagerty, Inc. (HGTY), reported the sale of 50,567 shares of Class A Common Stock.
• The sales occurred over three separate transactions: 7,747 shares on June 20, 2025; 11,710 shares on June 23, 2025; and 31,110 shares on June 24, 2025.
• The shares were sold at weighted average prices of $9.82, $10.02, and $10.14, respectively.
• All reported sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Kauffman on August 9, 2024.
• The shares were held indirectly by Aldel LLC, where Mr. Kauffman serves as manager and holds voting and investment discretion, though he disclaims beneficial ownership except for his pecuniary interest.
• Following these transactions, the indirect beneficial ownership of Class A Common Stock by Aldel LLC, managed by Mr. Kauffman, stands at 3,738,504 shares.

Sentiment

Score: 5

Explanation: The sales were conducted under a pre-arranged 10b5-1 trading plan, which typically indicates a non-discretionary transaction rather than a reaction to new company developments, thus having a neutral to slightly negative sentiment.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which indicates a scheduled, non-discretionary transaction rather than a sale based on new, material non-public information.

Negatives

• Insider selling, even if pre-planned, can sometimes be perceived negatively by the market as it reduces the alignment of insider interests with those of public shareholders.

Risks

• No specific risks beyond the general market perception of insider selling were mentioned in this Form 4 filing.

Future Outlook

This Form 4 filing reports an insider transaction and does not provide any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This Form 4 filing reports an insider transaction and does not provide broader industry context or trends.

Related Party Transactions

• The shares are held indirectly by Aldel LLC, where the Reporting Person, Robert I. Kauffman, is the manager and has voting and investment discretion. He disclaims beneficial ownership except to the extent of his pecuniary interest therein.

Stakeholder Impact

• Shareholders may view insider selling, even if pre-planned, with some caution, though the 10b5-1 plan mitigates concerns about opportunistic selling based on undisclosed information.

Key Dates

Recommendation

Keywords

Hagerty Inc, HGTY, Form 4, Insider Transaction, Stock Sale, Director, Robert I. Kauffman, 10b5-1 Plan, Class A Common Stock, Beneficial Ownership