Form 4: Hagerty Inc. Director Robert Kauffman Sells Class A Common Stock

Robert Kauffman, a director at Hagerty Inc., executed multiple sales of Class A Common Stock between June 28, 2024, and July 2, 2024, 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 in a series of transactions.
• The sales occurred on June 28, 2024, July 1, 2024, and July 2, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On June 28, 2024, 29,352 shares were sold at a weighted average price of $10.3, with individual prices ranging from $10.15 to $10.43.
• On July 1, 2024, 12,200 shares were sold at a weighted average price of $10.47, with individual prices ranging from $10.38 to $10.53.
• On July 2, 2024, 14,172 shares were sold at a weighted average price of $10.9, with individual prices ranging from $10.55 to $11.04.
• Following these transactions, Mr. Kauffman indirectly owns 2,972,303 shares through Aldel LLC, where he serves as the manager with voting and investment discretion.

Sentiment

Score: 5

Explanation: The sentiment is neutral. It's a routine filing related to stock sales under a pre-arranged plan. While insider sales can sometimes be viewed negatively, the existence of a 10b5-1 plan mitigates this concern.

Negatives

• The director's sale of shares could be interpreted negatively by some investors.

Risks

• Continued sales by insiders could put downward pressure on the stock price.

Industry Context

Insider trading activity is always closely watched in the financial industry as it can provide insights into management's perspective on the company's valuation and future prospects. However, sales under a 10b5-1 plan are less likely to be indicative of management sentiment.

Stakeholder Impact

• Shareholders may react to the news of insider selling, although the pre-planned nature of the sales may lessen the impact.

Key Dates