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

Director Robert I. Kauffman sold shares of Hagerty Inc. Class A Common Stock on December 24th and 26th, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Robert I. Kauffman, a director of Hagerty Inc., sold a total of 4,154 shares of Class A Common Stock.
• The sales occurred on December 24th and December 26th, 2024.
• The first sale of 1,467 shares was at a weighted average price of $10.13 per share.
• The second sale of 2,687 shares was at a weighted average price of $9.98 per share.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.
• Following these transactions, Mr. Kauffman indirectly owns 4,449,856 shares through Aldel LLC, where he is the manager.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock sales by a director under a pre-arranged plan. It doesn't indicate any positive or negative sentiment about the company's performance.

Risks

• Sales by insiders can sometimes be perceived negatively by the market, potentially impacting the stock price.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders who trade company stock. The use of a 10b5-1 plan is a common practice to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among corporate insiders to manage their stock sales while avoiding accusations of insider trading, similar to practices seen at companies like Tesla and Apple.
• The reported transactions are typical for directors and officers of publicly traded companies, and the disclosure is in line with SEC regulations.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholder sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates

Keywords

Hagerty Inc, Robert I. Kauffman, insider trading, Form 4, Rule 10b5-1, stock sale, director, Aldel LLC