Form 4: Hagerty President Sells $2.57M in HGTY Stock

Kenneth Ahn, President of Hagerty Marketplace, sold approximately $2.57 million worth of Hagerty, Inc. Class A Common Stock through pre-arranged Rule 10b5-1 trading plans.

Summary

• Kenneth Ahn, President of Hagerty Marketplace, reported transactions involving Hagerty, Inc. (HGTY) Class A Common Stock and The Hagerty Group, LLC Units.
• On January 5, 6, and 7, 2026, Mr. Ahn, through Quadrifoglio Holdings LLC, converted a total of 200,000 (164,870 + 10,883 + 24,247) Released Units of The Hagerty Group, LLC into an equal number of Class A Common Stock shares.
• Concurrently, these 200,000 Class A Common Stock shares were sold on the open market at weighted average prices of $12.79, $12.85, and $13.08, generating approximately $2,565,898.61 in proceeds.
• These sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Ahn on September 15, 2025.
• Following these transactions, Mr. Ahn's indirect beneficial ownership of The Hagerty Group, LLC Units through Quadrifoglio Holdings LLC is 926,563 units.
• His direct beneficial ownership of Class A Common Stock is 113,593 shares.

Sentiment

Score: 5

Explanation: The insider sales were conducted under a pre-arranged Rule 10b5-1 plan, which typically signals a planned liquidity event or diversification rather than a reaction to negative company-specific news. While it reduces insider ownership, the pre-planned nature mitigates negative sentiment, resulting in a neutral score.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned diversification or liquidity event rather than a reaction to new, negative material non-public information.

Negatives

• Insider selling, even if pre-planned, reduces the direct equity stake of a key executive, which some investors might interpret as a reduction in insider confidence, though this is mitigated by the 10b5-1 plan.

Future Outlook

NA

Management Comments

• The reported sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on September 15, 2025.
• The Reporting Person is the sole member of Quadrifoglio Holdings LLC and has voting and investment discretion with respect to the securities held of record by Quadrifoglio Holdings LLC.
• The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Industry Context

NA

Corporate Governance

Related Party Transactions

• The transactions involved Quadrifoglio Holdings LLC, an entity where Kenneth Ahn, the reporting person, is the sole member and has voting and investment discretion. This constitutes a related party transaction where Mr. Ahn converted and sold shares through this entity.

Stakeholder Impact

• Shareholders: May observe a reduction in direct insider ownership, though the Rule 10b5-1 plan provides context for the sales, suggesting a planned financial move rather than a reaction to new company developments.

Key Dates

Keywords

Hagerty, HGTY, Kenneth Ahn, insider trading, Form 4, stock sale, executive compensation, Rule 10b5-1, beneficial ownership, Quadrifoglio Holdings LLC