Form 4: Hagerty Inc. Director Robert I. Kauffman Sells Class A Common Stock

Robert I. Kauffman, a director of Hagerty, Inc., executed multiple sales of Class A Common Stock between October 22 and October 24, 2024, under 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 in a series of transactions.
• The sales occurred between October 22 and October 24, 2024.
• The transactions were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On October 22, 2024, 7,635 shares were sold at a weighted average price of $10.37.
• On October 23, 2024, 1,441 shares were sold at a weighted average price of $10.47.
• On October 24, 2024, 8,864 shares were sold at a weighted average price of $10.59.
• Following these transactions, Kauffman directly owns 53,474 shares and indirectly owns 5,053,448 shares through Aldel LLC.
• Kauffman disclaims beneficial ownership of the shares held by Aldel LLC except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales by a company director. It doesn't inherently convey positive or negative sentiment, as it's simply a report of transactions.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common for directors and officers of publicly traded companies. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on current inside information.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, potentially leading to a slight decrease in stock price, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates