Form 4: Hagerty Inc. Executive Kevin M. Delaney Reports Stock Transactions

Chief Accounting Officer Kevin M. Delaney reports acquisition and disposal of Hagerty, Inc. Class A Common Stock related to restricted stock units.

Summary

• Kevin M. Delaney, Chief Accounting Officer of Hagerty, Inc., reported transactions involving Class A Common Stock on April 1, 2025.
• He acquired 19,920 shares of Class A Common Stock underlying restricted stock units (RSUs) at $0.
• These RSUs vest in equal amounts annually, ending on April 1, 2028, contingent upon continued service, with exceptions for death, disability, retirement, or a change of control.
• Delaney also disposed of 6,069 shares of Class A Common Stock at $9.08 to cover tax obligations upon the vesting of RSUs.
• Following these transactions, Delaney beneficially owns 84,148 shares of Class A Common Stock directly.

Sentiment

Score: 6

Explanation: The document reflects standard executive compensation practices. There are no significantly positive or negative implications.

Positives

• The acquisition of shares through RSUs indicates a long-term incentive for the executive to remain with the company.

Negatives

• The disposal of shares to cover tax obligations, while common, slightly reduces the executive's holdings.

Risks

• The vesting of RSUs is contingent upon continued service, creating a potential risk if the executive leaves the company before April 1, 2028.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule of the RSUs suggests a continued commitment from the executive to the company through April 1, 2028.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the alignment of management's interests with those of shareholders.

Comparison to Industry Standards

• Executive compensation packages including RSUs are standard practice among publicly traded companies, including Hagerty's competitors in the insurance and automotive enthusiast sectors.
• The vesting schedule of the RSUs is typical, aligning with industry norms for incentivizing long-term performance and retention.
• Companies like Progressive, Allstate, and Geico also utilize similar equity-based compensation strategies for their executives.

Stakeholder Impact

• The transactions have a minor impact on shareholders, reflecting routine executive compensation adjustments.
• Employees may view the RSU grants as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

Hagerty, Kevin M. Delaney, Class A Common Stock, Restricted Stock Units, RSUs, Beneficial Ownership, Form 4, SEC, Transaction