[144] Hagerty, Inc. SEC Filing
Hagerty, Inc. (HGTY) Form 144 notice reports a proposed sale of 38,085 common shares with an aggregate market value of $457,400.00, intended to be sold on 09/08/2025 on the NYSE through Merrill Lynch. The filing states the shares were originally acquired on 12/02/2021 by Aldel LLC as part of a PIPE transaction disclosed in an 8-K, with 3,500,000 shares noted as acquired on that date. The document also lists numerous open-market sales by Robert I. Kauffman/Aldel LLC between 06/02/2025 and 09/03/2025, including multiple large blocks (for example, a sale of 110,600 shares on 07/24/2025 with gross proceeds of $1,156,876.00). The filer certifies no undisclosed material adverse information and follows Rule 144 disclosure requirements.
- Planned sale disclosed: Proposed sale of 38,085 shares valued at $457,400.00 to be executed on 09/08/2025 via Merrill Lynch
- Acquisition transparency: Shares were acquired on 12/02/2021 in a PIPE transaction (Aldel LLC), information tied to an 8-K disclosure
- Heavy insider/affiliate selling: Numerous open-market sales from 06/02/2025 to 09/03/2025, including large blocks (e.g., 110,600 shares on 07/24/2025 for $1,156,876.00)
- Potential supply pressure: Continued dispositions by Robert I. Kauffman/Aldel LLC could increase available float and affect market sentiment
Insights
TL;DR: The filing documents routine Rule 144 disclosure for insider/affiliate sales with significant recent volume but no new company disclosures.
The Form 144 shows a planned sale of 38,085 shares (value $457,400) to be executed through Merrill Lynch and confirms the shares were acquired in a December 2021 PIPE by Aldel LLC. The detailed list of prior transactions indicates sustained open-market dispositions by Robert I. Kauffman/Aldel LLC from June through early September 2025, including multiple multi-thousand-share trades and several large blocks. From an analytical perspective, this is a liquidity/ownership event rather than an operational disclosure; it affects float and potential supply but contains no new financial results or forward-looking company information. Impact on share price would depend on market absorption and timing of remaining insider holdings.
TL;DR: Substantial insider/affiliate selling is documented, which could be viewed negatively by investors monitoring insider disposition.
The record of frequent and sizable sales by an affiliate (Robert I. Kauffman/Aldel LLC) is material for governance and investor sentiment. The filing discloses acquisition origin (PIPE, 12/02/2021) and a planned near-term sale, plus many executed sales including a notably large block of 110,600 shares on 07/24/2025 (gross proceeds $1,156,876). While the Form 144 itself contains no allegations of misconduct and includes the signature certification regarding material information, the pattern of dispositions is meaningful to holders evaluating insider alignment with shareholder interests.
FAQ
What does the Form 144 for Hagerty (HGTY) disclose about the proposed sale?
Who is selling the shares listed in the filing?
When and how were the shares being sold acquired?
Does the filing report prior sales by the same seller?
What broker is handling the proposed sale?
