Form 4: Hagerty Inc. Director Robert I. Kauffman Executes Stock Sales Under 10b5-1 Plan

Director Robert I. Kauffman sold shares of Hagerty, Inc. (HGTY) between August 27 and August 29, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert I. Kauffman, a director of Hagerty, Inc. (HGTY), reported the sale of Class A Common Stock over three days.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On August 27, 2024, 7,260 shares were sold at a weighted average price of $12.24.
• On August 28, 2024, 4,240 shares were sold at a weighted average price of $12.01.
• On August 29, 2024, 7,004 shares were sold at a weighted average price of $12.01.
• The sales were conducted through Aldel LLC, where Kauffman serves as manager and has voting and investment discretion.
• Following these transactions, Aldel LLC beneficially owns 5,248,813 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales by a company director under a pre-existing trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for corporate insiders to set up 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates