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

Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) between May 29 and May 31, 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 on May 29, May 30, and May 31, 2024.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 11, 2023.
• On May 29, 5,071 shares were sold at a weighted average price of $9.02.
• On May 30, 10,515 shares were sold at a weighted average price of $9.26.
• On May 31, 11,157 shares were sold at a weighted average price of $9.50.
• Following these transactions, Mr. Kauffman indirectly owns 3,363,660 shares through Aldel LLC, where he serves as manager and has voting and investment discretion.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports routine insider selling under a pre-arranged plan. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

This filing is a routine disclosure of insider trading activity. It's important to note the sales were executed under a pre-arranged 10b5-1 trading plan, which is a common practice for corporate insiders to avoid accusations of trading on non-public information.

Stakeholder Impact

• The sale of shares by a director could potentially create short-term negative sentiment among shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates