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

Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) between July 9 and July 11, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert Kauffman, a director of Hagerty, Inc. (HGTY), reported the sale of Class A Common Stock.
• The sales occurred on July 9, 10, and 11, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On July 9, 2024, 8,572 shares were sold at a weighted average price of $11.11.
• On July 10, 2024, 13,324 shares were sold at a weighted average price of $11.14.
• On July 11, 2024, 8,107 shares were sold at a weighted average price of $11.34.
• The shares were sold directly by Kauffman and indirectly through Aldel LLC, where Kauffman is the manager.
• Following the reported transactions, Aldel LLC beneficially owns 5,498,493 shares.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions without expressing any positive or negative outlook.

Industry Context

Sales by company insiders are a common occurrence and are often viewed in the context of the insider's personal financial planning. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on current market information.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates