Form 4: Hagerty, Inc. Director Robert Kauffman Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) between December 27 and December 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 between December 27 and December 31, 2024.
- The sales were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
- On December 27, 2024, 3,519 shares were sold at a weighted average price of $9.83.
- On December 30, 2024, 3,878 shares were sold at a weighted average price of $9.57.
- On December 31, 2024, 4,982 shares were sold at a weighted average price of $9.62.
- The shares are indirectly held by Aldel LLC, where Kauffman serves as the manager and has voting and investment discretion.
- Following these transactions, Aldel LLC beneficially owns 4,437,477 shares of Class A Common Stock.
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.
Industry Context
Insider selling can sometimes be viewed negatively by the market, but the existence of a 10b5-1 trading plan suggests the sales were pre-planned and not based on current inside information.
Stakeholder Impact
- Shareholders may react to the insider selling, although the pre-planned nature of the sales mitigates potential concerns.
Key Dates
| Date | Description |
|---|---|
| 2024-08-09 | Date the Rule 10b5-1 trading plan was adopted. |
| 2024-12-27 | Date of first reported transaction. |
| 2024-12-30 | Date of second reported transaction. |
| 2024-12-31 | Date of third reported transaction and filing date. |
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