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

Director Robert Kauffman sold Hagerty, Inc. shares over three days in October under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert Kauffman, a director of Hagerty, Inc., sold shares of Class A Common Stock on October 1, 2, and 3, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On October 1, 2024, 8,138 shares were sold at a weighted average price of $10.32.
• On October 2, 2024, 7,172 shares were sold at a weighted average price of $10.49.
• On October 3, 2024, 3,354 shares were sold at a weighted average price of $10.48.
• Following these transactions, Robert Kauffman directly owns 53,474 shares and indirectly owns 5,116,000 shares through Aldel LLC.
• Kauffman disclaims beneficial ownership of the shares held by Aldel LLC except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to insider trading. The sales are under a pre-arranged plan, so it's neutral.

Industry Context

Insider trading activity is always closely watched by investors as it can provide signals about management's view of the company's prospects. However, sales under a pre-arranged 10b5-1 plan are less likely to be indicative of current sentiment.

Stakeholder Impact

• The sale of shares by a director could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this.

Key Dates