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 July 17 and July 19, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert Kauffman, a director of Hagerty, Inc., sold shares of Class A Common Stock over three days.
• The sales occurred on July 17, 18, and 19, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On July 17, 2024, 9,585 shares were sold at a weighted average price of $11.25.
• On July 18, 2024, 4,166 shares were sold at a weighted average price of $11.13.
• On July 19, 2024, 6,439 shares were sold at a weighted average price of $11.17.
• The shares were sold directly by Kauffman and indirectly through Aldel LLC, where Kauffman is the manager.
• Following the reported transactions, Aldel LLC beneficially owns 5,443,953 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral. It's a routine filing related to stock sales under a pre-arranged plan. There's no indication of significant positive or negative implications.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which can mitigate concerns about insider trading.

Risks

• Director selling shares could be perceived negatively by investors, potentially impacting the stock price.

Industry Context

Sales by company directors are a common occurrence, and are usually not a cause for concern unless there are other red flags. Investors often monitor insider transactions for signals about a company's prospects.

Stakeholder Impact

• The stock sales could have a minor impact on shareholder sentiment.

Key Dates