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

Director Robert Kauffman sold 1,795 shares of Hagerty, Inc. Class A Common Stock at an average price of $9.01 per share on April 9, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 9, 2024, Robert I. Kauffman, a director of Hagerty, Inc., sold 1,795 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $9.01, with individual transactions ranging from $9.00 to $9.05.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• Following the transaction, Kauffman directly owns 1,795 shares and indirectly owns 3,427,537 shares through Aldel LLC, where he serves as manager.
• Kauffman disclaims beneficial ownership of the indirectly held securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a transaction by an insider. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of a transaction by a company insider and provides transparency to the market regarding the trading activities of key personnel. It is common for insiders to use Rule 10b5-1 trading plans to avoid accusations of trading on non-public information.

Stakeholder Impact

• The sale of shares by a director could be perceived neutrally or slightly negatively by shareholders, depending on the context and the size of the transaction.
• However, given the relatively small number of shares sold and the use of a pre-arranged trading plan, the impact is likely minimal.

Key Dates