Form 4: Hagerty Inc. Director Robert Kauffman Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Director Robert Kauffman sold shares of Hagerty, Inc. under a pre-arranged 10b5-1 trading plan.
Summary
- Robert Kauffman, a director of Hagerty, Inc., sold shares of Class A Common Stock.
- The sales occurred on August 30, 2024, September 3, 2024, and September 4, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
- On August 30, 2024, 14,507 shares were sold at a weighted average price of $11.84.
- On September 3, 2024, 10,067 shares were sold at a weighted average price of $11.75.
- On September 4, 2024, 8,764 shares were sold at a weighted average price of $11.87.
- Following these transactions, Robert Kauffman directly owns 53,474 shares and indirectly owns 5,215,475 shares through Aldel LLC.
- Kauffman is the manager of Aldel LLC and has voting and investment discretion over the shares held by Aldel LLC.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as the sales were conducted under a pre-arranged plan.
Industry Context
Insider sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on current insider information.
Stakeholder Impact
- The sale of shares by a director could have a minor negative impact on shareholder confidence, although the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 08/11/2023 | Date the Reporting Person adopted a Rule 10b5-1 trading plan |
| 08/30/2024 | Date of first reported transaction (sale of Class A Common Stock) |
| 09/03/2024 | Date of second reported transaction (sale of Class A Common Stock) |
| 09/04/2024 | Date of third reported transaction (sale of Class A Common Stock) |
| 09/04/2024 | Date of Form 4 filing |
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