Form 4: Hagerty Inc. CFO Patrick McClymont Reports Stock Transactions

Chief Financial Officer Patrick McClymont reports stock transactions involving Hagerty, Inc. Class A Common Stock, including shares withheld for taxes and shares acquired through the Employee Stock Purchase Plan.

Summary

• Patrick McClymont, CFO of Hagerty, Inc., filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• On October 1, 2024, 7,703 shares of Class A Common Stock were withheld for taxes upon the vesting of restricted stock units.
• Also on October 1, 2024, McClymont acquired 1,750 shares of Class A Common Stock through the Employee Stock Purchase Plan (ESPP) at a price of $10.37 per share.
• Following these transactions, McClymont beneficially owns 205,118 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: Neutral sentiment. The transactions are routine and related to compensation and employee benefits. No strong positive or negative signals are apparent.

Positives

• McClymont's participation in the Employee Stock Purchase Plan (ESPP) demonstrates confidence in the company's future.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, allowing investors to gauge management's sentiment and alignment with shareholder interests.

Comparison to Industry Standards

• Monitoring insider transactions is a common practice in financial analysis.
• Comparing the volume and frequency of insider trades at Hagerty to those of its peers (e.g., other specialty insurance or automotive enthusiast companies) can provide insights into relative valuation and management confidence.
• For example, if executives at Hagerty are consistently buying shares while those at a competitor are selling, it could signal a more positive outlook for Hagerty.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine insider activity related to compensation and employee benefits.

Key Dates