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 November 7 and November 11, 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 November 7, 8, and 11, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On November 7, 2024, 15,193 shares were sold at a weighted average price of $11.66.
• On November 8, 2024, 11,148 shares were sold at a weighted average price of $11.21.
• On November 11, 2024, 15,223 shares were sold at a weighted average price of $10.85.
• Following these transactions, Robert I. Kauffman directly owns 53,474 shares and indirectly owns 4,964,603 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 Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions without expressing any opinion on the company's performance or future prospects. The sales were conducted under a pre-arranged plan, further reducing any potential negative sentiment.

Industry Context

Insider sales are a common occurrence and are often viewed in the context of the individual's financial planning rather than a reflection of the company's prospects, especially when executed under a pre-arranged trading plan.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates