Form 4: Hagerty Inc. Director Robert I. Kauffman Sells Shares Under 10b5-1 Plan
SEC Form 4
Director Robert I. Kauffman sold shares of Hagerty, Inc. (HGTY) between October 25 and October 29, 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 25, 2024 (5,088 shares at $10.42), October 28, 2024 (1,967 shares at $10.43), and October 29, 2024 (4,166 shares at $10.53).
- The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
- Following the transactions, Kauffman indirectly owns 5,042,227 shares through Aldel LLC.
- Kauffman disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider selling under a pre-arranged plan. It doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for corporate insiders to set up 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information.
Stakeholder Impact
- The sale of shares by a director could be perceived negatively by some investors, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| August 11, 2023 | Date the Rule 10b5-1 trading plan was adopted |
| October 25, 2024 | Date of first reported transaction |
| October 28, 2024 | Date of second reported transaction |
| October 29, 2024 | Date of third reported transaction and filing date of the Form 4 |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.