Form 4: Hagerty Inc. Director Robert I. Kauffman Sells Shares Under 10b5-1 Plan

Director Robert I. Kauffman sold shares of Hagerty, Inc. (HGTY) between February 6 and February 10, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert I. Kauffman, a director of Hagerty, Inc. (HGTY), reported the sale of Class A Common Stock.
• The sales occurred on February 6, 7, and 10, 2025.
• The transactions were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
• On February 6, 2025, 4,261 shares were sold at a weighted average price of $9.99.
• On February 7, 2025, 3,861 shares were sold at a weighted average price of $10.21.
• On February 10, 2025, 3,231 shares were sold at a weighted average price of $10.17.
• Following these transactions, Kauffman directly owns 53,474 shares and indirectly owns 4,308,961 shares through Aldel LLC.
• Kauffman disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions without expressing any opinion or outlook.

Industry Context

Insider sales are a common occurrence and are often viewed in the context of overall market conditions and company performance. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on immediate 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 investor confidence.

Key Dates