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

Director Robert Kauffman of Hagerty Inc. reports multiple sales of Class A Common Stock under a pre-arranged 10b5-1 trading plan.

Summary

• Robert Kauffman, a director of Hagerty Inc., reported the sale of Class A Common Stock on May 12, 2025, May 13, 2025, and May 14, 2025.
• The sales were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
• On May 12, 2025, 8,326 shares were sold at a weighted average price of $9.45.
• On May 13, 2025, 29,849 shares were sold at a weighted average price of $9.79.
• On May 14, 2025, 7,239 shares were sold at a weighted average price of $9.68.
• Following these transactions, Kauffman directly owns 67,302 shares and indirectly owns 3,991,838 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 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 insiders are a common occurrence and are often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 plan provides a legal framework for insiders to sell shares without being accused of acting on non-public information.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by shareholders, potentially leading to a slight decrease in stock price, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates

Keywords

Hagerty Inc., Robert Kauffman, Class A Common Stock, Form 4, SEC, 10b5-1 trading plan, Aldel LLC, Director, Share Sale