Form 4: Hagerty Inc. Director Robert I. Kauffman Sells Class A Common Stock
SEC Form 4 Filing
Director Robert I. Kauffman sold shares of Hagerty, Inc. Class A Common Stock over three days in February 2025, pursuant to a pre-arranged Rule 10b5-1 trading plan.
Summary
- Robert I. Kauffman, a director of Hagerty, Inc., reported the sale of Class A Common Stock.
- The sales occurred over three days: February 3, 2025, February 4, 2025, and February 5, 2025.
- The sales were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
- On February 3, 2025, 3,713 shares were sold at a weighted average price of $9.57, with prices ranging from $9.47 to $9.68.
- On February 4, 2025, 6,165 shares were sold at a weighted average price of $9.84, with prices ranging from $9.56 to $9.96.
- On February 5, 2025, 4,915 shares were sold at a weighted average price of $9.97, with prices ranging from $9.80 to $10.10.
- Following these transactions, Kauffman directly owns 53,474 shares.
- Kauffman indirectly owns 4,320,314 shares through Aldel LLC, where he serves as manager and has voting and investment discretion.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to stock sales by a company director. 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 sell shares under pre-arranged trading plans to avoid accusations of trading on non-public information.
Stakeholder Impact
- The stock sales could potentially exert downward pressure on the stock price, impacting shareholders.
Key Dates
| Date | Description |
|---|---|
| 2024/08/09 | Date of adoption of Rule 10b5-1 trading plan |
| 2025/02/03 | Date of first transaction: Sale of 3,713 shares |
| 2025/02/04 | Date of second transaction: Sale of 6,165 shares |
| 2025/02/05 | Date of third transaction: Sale of 4,915 shares |
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