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 May 15 and May 19, 2025, 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 between May 15 and May 19, 2025.
- The sales were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
- On May 15, 2025, 12,044 shares were sold at a weighted average price of $9.72.
- On May 16, 2025, 8,361 shares were sold at a weighted average price of $9.69.
- On May 19, 2025, 24,110 shares were sold at a weighted average price of $9.86.
- Following these transactions, Kauffman directly owns 67,302 shares and indirectly owns 3,947,323 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: This is a neutral disclosure of insider selling. The existence of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific negative information.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for corporate insiders to use 10b5-1 plans to sell shares over time to avoid accusations of trading on material non-public information.
Stakeholder Impact
- The sale of shares by a director could be perceived negatively by some investors, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2024-08-09 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 2025-05-15 | Date of first reported transaction |
| 2025-05-16 | Date of second reported transaction |
| 2025-05-19 | Date of third reported transaction |
Keywords
Hagerty, Robert I. Kauffman, insider trading, Form 4, share sale, Rule 10b5-1, Aldel LLC, HGTY, director
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