Form 4: Hagerty Inc. Director Robert Kauffman Sells Shares Under 10b5-1 Plan

Director Robert Kauffman sold Hagerty, Inc. (HGTY) shares on November 4-6, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert Kauffman, a director of Hagerty, Inc. (HGTY), reported the sale of Class A Common Stock on November 4, 5, and 6, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On November 4, 2024, 5,834 shares were sold at a weighted average price of $10.98.
• On November 5, 2024, 3,834 shares were sold at a weighted average price of $11.29.
• On November 6, 2024, 8,224 shares were sold at a weighted average price of $11.80.
• Following these transactions, Robert Kauffman directly owns 53,474 shares and indirectly owns 5,006,167 shares through Aldel LLC.
• Kauffman disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports insider trading activity under a pre-existing plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Insider sales are a common occurrence and are often viewed in the context of overall company performance and market conditions. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on immediate inside information.

Stakeholder Impact

• The share sales could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates