HGTY Rule 144 Notice: Aldel LLC Plans 34,447-Share Sale via Merrill Lynch

Rhea-AI Filing Summary

Hagerty, Inc. (HGTY) Form 144 filing reports a proposed sale of 34,447 common shares through Merrill Lynch (NYSE) with an aggregate market value of $426,608. The filing states these shares were acquired on 12/02/2021 by Aldel LLC as part of a PIPE related to Hagerty's business combination. The report also lists numerous dispositions by Robert I. Kauffman / Aldel LLC over the past three months, showing regular sales activity. The filing includes the usual Rule 144 representation that the seller is not aware of undisclosed material adverse information.

Positive

• Proposed sale fully disclosed: filing identifies broker, share amount (34,447) and aggregate market value ($426,608).
• Acquisition provenance provided: shares were acquired 12/02/2021 by Aldel LLC in connection with a PIPE announced in an 8-K.
• Comprehensive past-sales record: lists multiple dispositions by Robert I. Kauffman/Aldel LLC over the past three months, improving transparency.

Negative

• Ongoing selling activity: numerous share dispositions by Robert I. Kauffman/Aldel LLC are reported in the past three months, indicating continued liquidation of holdings.

Insights

Securities Analyst

TL;DR: Rule 144 notice for a modest proposed sale; recent serial dispositions are disclosed but not shown as materially dilutive.

The filing formally notifies the market of a proposed sale of 34,447 common shares (aggregate value $426,608) to be executed through Merrill Lynch on the NYSE. It documents the acquisition source — Aldel LLC acquired the shares on 12/02/2021 via a PIPE tied to Hagerty's business combination — which clarifies insider/affiliate provenance. The extensive list of sales by Robert I. Kauffman/Aldel LLC over the past three months demonstrates ongoing liquidation activity, all presented under Rule 144 procedural disclosures. Taken together, this is a compliance-focused disclosure providing transparency about insider/affiliate selling rather than new operational or financial information about the issuer.

Corporate Governance Specialist

TL;DR: Filing is standard governance transparency; documents source of shares and recent sales but contains no new adverse disclosures.

The document fulfills Rule 144 requirements by stating the class, broker, amount, market value, and acquisition history for the shares proposed for sale. It explicitly ties the acquisition to a PIPE transaction disclosed in an 8-K in December 2021, which helps trace affiliate holdings. The seller's representation regarding material non-public information is included, as customary. The filing does not present governance changes, litigation, or other events that would materially affect investor assessment beyond the disclosed selling activity.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

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	34447	426608	90942223	09/22/2025	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
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	09/16/2025	17622	219570
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	09/15/2025	11433	146228
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	09/08/2025	38085	457400
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	09/03/2025	41669	471276
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	09/02/2025	22295	248480
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	08/29/2025	62500	701875
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	08/28/2025	28736	322130
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	08/27/2025	28704	316278
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	08/26/2025	9844	105921
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	08/25/2025	7668	83351
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	08/22/2025	6081	66404
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	08/21/2025	7356	79224
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/28/2025	4000	43146.62
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/25/2025	24728	266321
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/24/2025	110600	1156876
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/23/2025	40393	411605
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/22/2025	31869	324745
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/21/2025	16897	170998
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/18/2025	36174	366081
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/17/2025	17762	178330
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/16/2025	16972	170229
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/15/2025	14862	148620
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/14/2025	8362	83620
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/11/2025	9970	99102
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/10/2025	41239	416514
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/09/2025	98766	994573
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/08/2025	12465	127018
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/07/2025	9914	100627
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/03/2025	3100	31589
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/02/2025	12500	125500
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	07/01/2025	7000	71260
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/30/2025	4600	46276
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/27/2025	7432	75212
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/26/2025	19627	199018
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/25/2025	12610	126730
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/24/2025	31110	315455
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/23/2025	11710	117334
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/20/2025	7747	76075
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/18/2025	10380	100270
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/17/2025	4610	44025
Robert I. Kauffman, Aldel LLC 1 Manhattan W Rm. 06-1041 New York NY 10001-8600	Common	06/16/2025	4010	38255

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Hagerty (HGTY) Form 144 disclose?

The notice discloses a proposed sale of 34,447 common shares through Merrill Lynch with aggregate market value of $426,608 and lists recent sales by Robert I. Kauffman/Aldel LLC.

When and how were the shares being sold acquired?

The shares were acquired on 12/02/2021 by Aldel LLC as part of a PIPE related to Hagerty's business combination, and the filing states payment was in stock.

Who is selling the shares according to the filing?

The filing identifies Robert I. Kauffman / Aldel LLC as the seller for the past transactions and the account for the proposed sale.

Where will the proposed sale be executed?

The proposed sale is listed as to be executed on the NYSE through Merrill Lynch (225 Liberty St, New York).

Does the filing state any undisclosed material information?

By signing, the person for whose account the securities will be sold represents they do not know of any material adverse information about the issuer that has not been publicly disclosed.