Form 4: Hagerty Inc. CFO Patrick McClymont Reports Acquisition of Restricted Stock Units

Chief Financial Officer Patrick McClymont reports acquisition of restricted stock units in Hagerty, Inc.

Summary

• Patrick McClymont, CFO of Hagerty, Inc., filed a Form 4 on December 19, 2024, reporting a transaction on December 17, 2024.
• McClymont acquired 68,306 shares of Class A Common Stock underlying restricted stock units (RSUs) under the company's 2021 Equity Incentive Plan.
• The RSUs vest in equal amounts on each of the third, fourth, and fifth anniversary of the grant date, ending on December 17, 2029, contingent upon continued service with the Issuer, with exceptions for death, disability, or a change of control.
• Following the reported transaction, McClymont beneficially owns 273,424 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard insider transactions and alignment of management interests with shareholders through equity compensation.

Positives

• The acquisition of RSUs by the CFO aligns his interests with the long-term performance of the company.
• The vesting schedule incentivizes continued service with Hagerty, Inc.

Future Outlook

The vesting of the RSUs is contingent upon continued service, suggesting an expectation of McClymont's continued involvement with Hagerty, Inc.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive sign, aligning management's interests with the company's long-term success.

Key Dates