Form 4: Hagerty Inc. Director Robert Kauffman Sells Class A Common Stock
SEC Form 4 Filing
Director Robert Kauffman sold shares of Hagerty, Inc. Class A Common Stock between February 25 and February 27, 2025, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Robert Kauffman, a director of Hagerty, Inc., reported the sale of Class A Common Stock.
- The sales occurred on February 25, 2025 (3,716 shares at $10.06), February 26, 2025 (1,428 shares at $10.04), and February 27, 2025 (1,597 shares at $10.11).
- These transactions were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
- Following these transactions, Kauffman directly owns 53,474 shares and indirectly owns 4,273,932 shares through Aldel LLC.
- Kauffman is the manager of Aldel LLC and has voting and investment discretion over the securities 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 regulatory filing detailing stock sales by a company director. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.
Industry Context
This Form 4 filing is a routine disclosure of stock sales by a company insider. Such filings are common and provide transparency into the trading activities of company executives and directors.
Stakeholder Impact
- The stock sales by a director could be perceived negatively by some shareholders, potentially leading to a slight decrease in stock price, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2024-08-09 | Date of adoption of Rule 10b5-1 trading plan. |
| 2025-02-25 | Date of first reported transaction (sale of 3,716 shares). |
| 2025-02-26 | Date of second reported transaction (sale of 1,428 shares). |
| 2025-02-27 | Date of third reported transaction (sale of 1,597 shares). |
| 2025-02-27 | Date of signature of the report. |
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