Form 4: Hagerty President Sells 50,000 Shares via 10b5-1 Plan

Hagerty, Inc. President of Hagerty Marketplace, Kenneth Ahn, sold 50,000 shares of Class A Common Stock for $12.41 per share through a pre-arranged 10b5-1 trading plan.

Summary

• Kenneth Ahn, President of Hagerty Marketplace, reported transactions involving Hagerty, Inc. Class A Common Stock.
• On January 26, 2026, Quadrifoglio Holdings LLC, an entity of which Mr. Ahn is the sole member, converted 50,000 Released Units of The Hagerty Group, LLC into 50,000 shares of Hagerty, Inc. Class A Common Stock.
• Immediately following the conversion, Quadrifoglio Holdings LLC sold these 50,000 shares of Class A Common Stock at a weighted average price of $12.41 per share.
• The sale was executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Ahn on September 15, 2025.
• After these transactions, Quadrifoglio Holdings LLC beneficially owns 775,213 Released Units of The Hagerty Group, LLC.
• Mr. Ahn's direct beneficial ownership of Class A Common Stock is 113,593 shares.

Sentiment

Score: 4

Explanation: While the sale was pre-planned via a 10b5-1 plan, insider selling, even scheduled, can be perceived negatively by the market as it reduces an executive's direct equity exposure. However, the conversion of units into stock before selling indicates a monetization event rather than a direct reduction of overall economic interest in the company's performance through the units.

Negatives

• Insider selling of 50,000 shares of Class A Common Stock by a key executive, Kenneth Ahn, through an entity he controls, which can sometimes be perceived negatively by the market.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• The transaction involves Quadrifoglio Holdings LLC, an entity controlled by Kenneth Ahn, the reporting person, converting and selling shares. This constitutes a related party transaction.

Stakeholder Impact

• Shareholders may view the insider sale as a signal, potentially influencing sentiment, although the pre-planned nature mitigates immediate concerns.
• The transaction monetizes a portion of the executive's equity, which is a normal part of executive compensation and wealth management.

Key Dates

Recommendation

The insider sale by a key executive, while executed under a pre-arranged Rule 10b5-1 plan, warrants a 'hold' recommendation. While the plan mitigates the immediate negative signal of a reactive sale, it still represents a reduction in direct equity exposure by management. Investors should monitor future insider activity and company performance, but this single, pre-planned transaction does not fundamentally alter the investment thesis for or against Hagerty, Inc. at this time.

Keywords

Hagerty, HGTY, Kenneth Ahn, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Executive Compensation, Class A Common Stock, Quadrifoglio Holdings LLC