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 August 12 and August 14, 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 August 12, 13, and 14, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On August 12, 2024, 8,001 shares were sold at a weighted average price of $10.48.
• On August 13, 2024, 7,075 shares were sold at a weighted average price of $10.46.
• On August 14, 2024, 7,727 shares were sold at a weighted average price of $10.46.
• Following these transactions, Kauffman directly owns 53,474 shares and indirectly owns 5,330,531 shares through Aldel LLC.
• Kauffman is the manager of Aldel LLC and has voting and investment discretion over the shares held by Aldel LLC but disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This filing is a routine disclosure of stock sales by a company insider and is a common occurrence for publicly traded companies. It provides transparency to investors regarding the transactions of company leadership.

Stakeholder Impact

• The stock sales by a director could be perceived negatively by shareholders if they interpret it as a lack of confidence in the company's future, although the sales were conducted under a pre-arranged trading plan.

Key Dates