[144] Hagerty, Inc. SEC Filing

Q: What does Hagerty (HGTY) disclose in this Form 144?

The filing discloses a proposed sale of 3,024 common shares valued at $36,318 , to be executed through Merrill Lynch on 10/06/2025 , and lists prior open-market sales by the same filer.

Q: Who is the seller named in the Form 144 for HGTY?

The seller is listed as Robert I. Kauffman, Aldel LLC with recent sales and the proposed sale reported on the form.

Q: How many shares does Hagerty report outstanding on this filing?

The filing lists 90,942,223 shares outstanding for the issuer.

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

144

Rhea-AI Filing Summary

Hagerty, Inc. filed a Form 144 disclosing a proposed sale of 3,024 common shares with an aggregate market value of $36,318, to be sold through Merrill Lynch on 10/06/2025 on the NYSE. The filing states these shares were originally acquired on 12/02/2021 as part of a PIPE financing connected to the business combination with Hagerty, showing the securities were paid in stock.

The notice also lists multiple reported open-market sales by Robert I. Kauffman/Aldel LLC across the past three months, including several large tranches such as 110,600 shares on 07/24/2025, 99,766 shares on 07/09/2025, and 62,500 shares on 08/29/2025. The filing records 90,942,223 shares outstanding for the issuer, and the filer represents compliance with Rule 144 and absence of undisclosed material adverse information.

Positive

Proposed sale of 3,024 shares is being routed through Merrill Lynch, indicating use of an established broker
Acquisition origin disclosed: shares were acquired on 12/02/2021 as part of a PIPE financing, clarifying provenance
Filer attests to Rule 144 compliance and absence of undisclosed material adverse information

Negative

Frequent open-market sales by Robert I. Kauffman/Aldel LLC across recent months include large tranches (e.g., 110,600 on 07/24/2025)
Several large single-day disposals (e.g., 99,766 on 07/09/2025 and 62,500 on 08/29/2025) could increase short-term supply
Outstanding shares listed at 90,942,223, making some single-day sales relatively small but repeated distributions may be notable over time

Insights

TL;DR: The filing documents ongoing Rule 144-compliant sales by an early PIPE participant and a small additional proposed sale.

The report shows the filer originally acquired 3,500,000 shares on 12/02/2021 via the connected PIPE and has since executed numerous open-market sales, with a proposed sale of 3,024 shares on 10/06/2025. These entries indicate active liquidity realization from an early investor position.

Such selling is routine when insiders or PIPE participants liquidate positions under Rule 144; the main near-term item to watch is whether the pace of sales continues at similar daily/weekly sizes over the next 30–90 days, which would affect free-float and trading supply.

TL;DR: Individual sale sizes are small relative to total shares outstanding, but repeated large tranches can increase float temporarily.

The issuer's outstanding share count is listed as 90,942,223, while several single-day sales exceeded 100,000 shares, showing intermittent liquidity pressure. The proposed 3,024-share sale is immaterial by itself but fits a pattern of distributions from the same holder.

If similar sellers continue to place multi-ten-thousand share blocks into the market over coming weeks, trading liquidity and short-term supply-demand could be affected; monitor aggregated sales volumes versus typical daily ADV over the next 30–60 days.

10/06/2025 - 04:50 PM

144: Filer Information

Filer CIK

Filer CCC

Is this a LIVE or TEST Filing?

LIVE TEST

Submission Contact Information

Name

Phone

E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold

Name and Address of the Broker

Number of Shares or Other Units To Be Sold

Aggregate Market Value

Number of Shares or Other Units Outstanding

Approximate Date of Sale

Name the Securities Exchange

Common

Merrill Lynch
225 Liberty St, 39th Floor
New York NY 10281

3024

36318

90942223

10/06/2025

NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class

Date you Acquired

Nature of Acquisition Transaction

Name of Person from Whom Acquired

Is this a Gift?

Date Donor Acquired

Amount of Securities Acquired

Date of Payment

Nature of Payment *

Common

12/02/2021

Per the 8-K filed in December 2021 announcing the business combination with Hagerty, Aldel LLC acquired the stock as a part of the connected PIPE financing

Hagerty Inc.

3500000

12/02/2021

Stock

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller

Title of Securities Sold

Date of Sale

Amount of Securities Sold

Gross Proceeds