Form 4: Hagerty Inc. Director Robert I. Kauffman Executes Stock Sales Under 10b5-1 Plan
SEC Form 4 Filing
Director Robert I. Kauffman sold shares of Hagerty, Inc. (HGTY) on March 21 and March 25, 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 on March 21 and March 25, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
- On March 21, 2024, 250 shares were sold at a price of $9.
- On March 25, 2024, 318 shares were sold at a price of $9.
- Following these transactions, Mr. Kauffman directly owns 3,453,872 shares and indirectly owns 3,454,190 shares through Aldel LLC.
- Mr. Kauffman is the manager of Aldel LLC and has voting and investment discretion over the securities held by Aldel LLC but disclaims beneficial ownership except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock sales under a pre-arranged trading plan. There is no indication of positive or negative implications for the company.
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. The sales are relatively small in the context of the total shares owned by Mr. Kauffman.
Key Dates
| Date | Description |
|---|---|
| 2023/08/11 | Date of adoption of Rule 10b5-1 trading plan |
| 2024/03/21 | Date of first reported transaction (sale of 250 shares) |
| 2024/03/25 | Date of second reported transaction (sale of 318 shares) |
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