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

Director Robert Kauffman sold shares of Hagerty, Inc. (HGTY) on March 21 and March 24, 2025, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robert Kauffman, a director of Hagerty, Inc., executed sales of Class A Common Stock on March 21 and March 24, 2025.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on August 9, 2024.
• On March 21, 2025, 10,420 shares were sold at a weighted average price of $9.14, with individual trades ranging from $9.08 to $9.24.
• On March 24, 2025, 10,468 shares were sold at a weighted average price of $9.24, with individual trades ranging from $9.01 to $9.44.
• Following these transactions, Kauffman directly owns 53,474 shares and indirectly owns 4,147,676 shares through Aldel LLC.
• Kauffman disclaims beneficial ownership of the shares held by Aldel LLC except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports insider trading activity under a pre-arranged plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Insider sales are a common occurrence and are often viewed in the context of overall market conditions and company performance. The use of a 10b5-1 plan suggests the sales were pre-planned and not based on immediate inside information.

Comparison to Industry Standards

• It is difficult to compare this transaction to industry standards without knowing the specific reasons for the sale.
• However, the use of a 10b5-1 trading plan is a common practice among corporate insiders to avoid accusations of insider trading.
• Comparable companies often have similar insider trading policies and practices in place.

Stakeholder Impact

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

Key Dates

Keywords

Hagerty, Inc., Robert Kauffman, Class A Common Stock, Form 4, Insider Trading, Rule 10b5-1, Aldel LLC, Director