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

Robert I. Kauffman, a director at Hagerty, Inc., executed multiple sales of Class A Common Stock between October 14 and October 16, 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.
• The sales occurred on October 14, 15, and 16, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On October 14, 2024, 1,732 shares were sold at a weighted average price of $10.78.
• On October 15, 2024, 2,541 shares were sold at a weighted average price of $10.78.
• On October 16, 2024, 3,040 shares were sold at a weighted average price of $10.72.
• Following these transactions, Kauffman directly owns 53,474 shares.
• Kauffman indirectly owns 5,080,626 shares through Aldel LLC, where he is the manager and has voting and investment discretion.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. It is neutral in sentiment as it simply reports transactions.

Industry Context

This filing is a routine disclosure of stock sales by a company insider and is a common occurrence in publicly traded companies.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, potentially leading to slight downward pressure on the stock price in the short term.

Key Dates