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

Director Robert Kauffman sold shares of Hagerty, Inc. Class A Common Stock between October 9 and October 11, 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.
• The sales occurred on October 9, 10, and 11, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On October 9, 7,933 shares were sold at a weighted average price of $10.7.
• On October 10, 3,147 shares were sold at a weighted average price of $10.77.
• On October 11, 3,683 shares were sold at a weighted average price of $10.78.
• Following these transactions, Kauffman directly owns 53,474 shares and indirectly owns 5,087,939 shares through Aldel LLC.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sales were conducted under a pre-arranged 10b5-1 plan, which reduces the impact on sentiment. Overall, the sentiment is neutral.

Industry Context

Sales by company insiders are a common occurrence and are often scrutinized by investors for insights into management's perspective on the company's valuation and future prospects. However, sales under a pre-arranged 10b5-1 plan are less likely to be indicative of the insider's current sentiment, as the plan was established in advance.

Key Dates