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

Director Robert Kauffman reports sales of Hagerty, Inc. Class A Common Stock over three days in March 2025, pursuant to 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 in a series of transactions.
• The sales occurred on March 10, 11, and 12, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
• On March 10, 2025, 7,979 shares were sold at a weighted average price of $9.5, with individual prices ranging from $9.27 to $9.76.
• On March 11, 2025, 5,733 shares were sold at a weighted average price of $9.35, with individual prices ranging from $9.14 to $9.56.
• On March 12, 2025, 3,400 shares were sold at a weighted average price of $9.3, with individual prices ranging from $9.15 to $9.44.
• Following these transactions, Kauffman directly owns 53,474 shares and indirectly owns 4,223,861 shares through Aldel LLC.
• Kauffman is the manager of Aldel LLC and has voting and investment discretion over the shares 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 SEC filing related to stock sales by a company director. It doesn't inherently convey positive or negative sentiment, but rather reports factual transactions.

Industry Context

Sales by company insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on any specific inside information.

Stakeholder Impact

• The sales could have a minor impact on shareholders if they perceive the sales as a lack of confidence by the director, although the existence of a 10b5-1 plan mitigates this concern.
• The impact on employees, customers, suppliers, and creditors is likely to be negligible.

Key Dates