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

Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) on August 20 and 21, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert I. Kauffman, a director of Hagerty, Inc. (HGTY), sold shares of Class A Common Stock on August 20 and 21, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On August 20, 2024, 6,327 shares were sold at a weighted average price of $11.21, with prices ranging from $11.16 to $11.42.
• On August 21, 2024, 4,439 shares were sold at a weighted average price of $11.16, with prices ranging from $11.09 to $11.20.
• Following these transactions, Kauffman directly owns 53,474 shares and indirectly owns 5,288,195 shares through Aldel LLC.
• Kauffman is the manager of Aldel LLC and has voting and investment discretion over the shares held by Aldel LLC, but disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of insider selling under a pre-arranged plan. It doesn't necessarily indicate a negative outlook, but it's not a positive signal either.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for corporate insiders to set up 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• Shareholders may perceive the insider selling as a slightly negative signal, although it's under a pre-arranged plan.
• The impact on other stakeholders (employees, customers, suppliers, creditors) is likely minimal.

Key Dates