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

Director Robert I. Kauffman sold shares of Hagerty, Inc. Class A Common Stock between August 15 and August 19, 2024, under a pre-arranged trading plan.

Summary

• Robert I. Kauffman, a director of Hagerty, Inc., reported the sale of Class A Common Stock.
• The sales occurred on August 15, 16, and 19, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On August 15, 2024, 10,783 shares were sold at a weighted average price of $10.56.
• On August 16, 2024, 12,170 shares were sold at a weighted average price of $10.82.
• On August 19, 2024, 8,617 shares were sold at a weighted average price of $11.34.
• Following these transactions, Robert I. Kauffman directly owns 53,474 shares and indirectly owns 5,298,961 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 SEC filing reporting the sale of shares by a director. It is neutral in tone and does not inherently indicate positive or negative sentiment.

Industry Context

Sales by company insiders are a common occurrence and are often related to personal financial planning. The disclosure provides transparency into the transactions of company leadership.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, although the existence of a pre-arranged trading plan mitigates this concern.

Key Dates