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

Director Robert Kauffman reported the sale of Class A Common Stock in Hagerty, Inc. over three days in January 2025, while also holding a significant indirect ownership through Aldel LLC.

Summary

• Robert Kauffman, a director of Hagerty, Inc., reported the sale of Class A Common Stock.
• The sales occurred over three days: January 21, 2025, January 22, 2025, and January 23, 2025.
• On January 21, 2025, 3,301 shares were sold at a weighted average price of $9.62.
• On January 22, 2025, 5,617 shares were sold at a weighted average price of $9.69.
• On January 23, 2025, 5,044 shares were sold at a weighted average price of $9.70.
• Following these transactions, Kauffman directly owns 53,474 shares of Class A Common Stock.
• Kauffman also indirectly owns a significant number of shares through Aldel LLC; 4,372,659 shares on January 21, 4,367,042 shares on January 22, and 4,361,998 shares on January 23.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
• 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 reporting stock sales by a director, which is neutral in sentiment.

Industry Context

This filing is a routine disclosure of stock sales by a company insider. Such transactions are common and provide transparency to the market.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder sentiment.

Key Dates