Form 4: Hagerty Inc. Director Robert Kauffman Sells Shares Under 10b5-1 Plan
SEC Form 4
Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) between July 30 and August 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Robert Kauffman, a director of Hagerty, Inc., reported the sale of Class A Common Stock over three days.
- On July 30, 2024, he sold 3,866 shares at a weighted average price of $11.01.
- On July 31, 2024, he sold 3,001 shares at a weighted average price of $11.13.
- On August 1, 2024, he sold 5,487 shares at a weighted average price of $10.98.
- These sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
- Following these transactions, Kauffman directly owns 53,474 shares and indirectly owns 5,395,008 shares through Aldel LLC.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transactions were pre-planned under a 10b5-1 trading plan and do not necessarily reflect a change in the director's outlook on the company.
Industry Context
Sales by company insiders are a common occurrence and are often viewed in the context of overall market conditions and company performance. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on immediate market sentiment.
Stakeholder Impact
- The share sales could have a minor impact on shareholder sentiment, but the pre-planned nature of the transactions mitigates potential concerns.
Key Dates
| Date | Description |
|---|---|
| 2023/08/11 | Date of adoption of Rule 10b5-1 trading plan |
| 2024/07/30 | First reported transaction date: Sale of 3,866 shares |
| 2024/07/31 | Second reported transaction date: Sale of 3,001 shares |
| 2024/08/01 | Third reported transaction date: Sale of 5,487 shares |
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