4/A: Hagerty Inc. Executive Kevin M. Delaney Amends Form 4 Filing to Reflect RSU Tax Withholding

Kevin M. Delaney, Chief Accounting Officer of Hagerty Inc., amended a previous Form 4 filing to accurately reflect the number of Class A Common Stock shares withheld for taxes upon the vesting of restricted stock units (RSUs) on April 1, 2024.

Summary

• This is an amended SEC Form 4 filing by Kevin M. Delaney, Chief Accounting Officer of Hagerty, Inc.
• The amendment clarifies the number of Class A Common Stock shares withheld for taxes upon the vesting of restricted stock units (RSUs) on April 1, 2024.
• The original Form 4, filed on April 23, 2024, reported the grant of RSUs on April 1, 2024.
• The amended filing reflects that 3,860 shares were withheld for taxes at a price of $9.13 per share.
• Following the reported transactions, Delaney beneficially owns 71,952 shares of Class A Common Stock directly.
• The RSUs vest in equal amounts on each annual anniversary of the grant date ending on April 1, 2027, subject to continued service.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing correcting a previous submission. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Future Outlook

The RSUs vest in equal amounts on each annual anniversary of the grant date ending on April 1, 2027, subject to the Reporting Person's continued service with the Issuer, with exceptions for death, disability, or retirement terminations, or a change of control of the Issuer.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency regarding the ownership of securities by company insiders.
• Companies like Progressive, Allstate, and Geico also have executives who are required to file similar forms when their holdings change.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The tax withholding impacts the executive's net share accumulation.

Key Dates