Form 4: Hagerty Inc. Director Harris Sells Shares to Cover Tax Obligations

Director Laurie Harris sold 3,934 shares of Hagerty, Inc. Class A Common Stock on April 4, 2025, to cover tax obligations related to vesting restricted stock units.

Summary

• On April 4, 2025, Laurie Harris, a director of Hagerty, Inc. (HGTY), sold 3,934 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $8.41 per share, with individual trades ranging from $8.31 to $8.63.
• The transaction was conducted automatically under a pre-arranged Rule 10b5-1 trading plan adopted on September 6, 2024.
• The sale was a 'sell to cover' transaction to satisfy tax withholding obligations related to the vesting of restricted stock units.
• Following the transaction, Harris directly owns 30,349 shares of Hagerty, Inc.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations and was pre-planned under a Rule 10b5-1 trading plan.

Industry Context

Sales by company directors are a common occurrence and are often related to personal financial planning or tax obligations. The use of a 10b5-1 trading plan suggests the director is selling shares in a pre-planned manner to avoid accusations of insider trading.

Stakeholder Impact

• The sale of shares by a director could have a minor negative impact on shareholder sentiment, but the pre-planned nature of the sale mitigates this concern.

Key Dates

Keywords

Hagerty, Director, Harris, Share Sale, Form 4, Rule 10b5-1, Tax Obligations, Restricted Stock Units