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

Director Robert Kauffman of Hagerty Inc. executed multiple sales of Class A Common Stock between October 4th and October 8th, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert Kauffman, a director at Hagerty, Inc., sold shares of Class A Common Stock between October 4th and October 8th, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On October 4, 2024, 3,348 shares were sold at a weighted average price of $10.60.
• On October 7, 2024, 4,431 shares were sold at a weighted average price of $10.46.
• On October 8, 2024, 5,519 shares were sold at a weighted average price of $10.60.
• Following these transactions, Robert Kauffman directly owns 53,474 shares and indirectly owns 5,102,702 shares through Aldel LLC.
• Kauffman disclaims beneficial ownership of the indirectly held securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to insider trading. The sales were conducted under a pre-arranged plan, so it's neutral from an investment perspective.

Risks

• Sales by insiders, even under 10b5-1 plans, can sometimes be perceived negatively by the market.

Industry Context

Insider trading activity is closely monitored in the financial industry as it can provide insights into management's perspective on the company's valuation and future prospects. Rule 10b5-1 plans are designed to allow insiders to sell shares without being accused of trading on non-public information.

Stakeholder Impact

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

Key Dates