[144] Hagerty, Inc. SEC Filing

Q: What does Hagerty's (HGTY) Form 144 report?

It reports a proposed sale of 22,629 common shares via Merrill Lynch with an aggregate market value of $271,548 , to occur on 10/08/2025 .

Q: Who is selling the shares reported in HGTY Form 144?

The shares are held by Aldel LLC , associated with Robert I. Kauffman , and were acquired in the 12/02/2021 PIPE transaction.

Q: How many Hagerty shares are outstanding against this sale?

The filing states 90,942,223 shares outstanding, so the proposed 22,629 share sale is a very small fraction of the float.

Q: Where will the shares be sold?

The proposed sale is planned to execute on the NYSE through Merrill Lynch .

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

144

Rhea-AI Filing Summary

Hagerty, Inc. filed a Form 144 reporting a proposed sale of 22,629 common shares through Merrill Lynch with an aggregate market value of $271,548. The filing shows the shares were originally acquired on 12/02/2021 as part of a connected PIPE financing totaling 3,500,000 shares held by Aldel LLC. The issuer has 90,942,223 shares outstanding, and the transaction is slated for 10/08/2025 on the NYSE. The filer also disclosed numerous common-share sales by Robert I. Kauffman / Aldel LLC across the prior three months, indicating ongoing disposition of holdings in multiple tranches. The signer certifies no undisclosed material adverse information.

Positive

Transparent reporting of proposed sale details (shares, broker, value, execution date)
Acquisition origin disclosed (PIPE financing on 12/02/2021), clarifying holder status
Multiple small tranches sold historically, which can limit single‑day market disruption

Negative

Ongoing disposition by an affiliate across multiple months could maintain selling pressure on the stock
Aggregate recent sales include large daily tranches (e.g., 110,600 on 07/24/2025) that may affect short‑term liquidity

Insights

TL;DR: A small, orderly block sale amid ongoing tranche sales from an insider entity.

The filing lists a proposed brokered sale of 22,629 shares valued at $271,548, representing a tiny fraction of the 90,942,223 shares outstanding. The shares were acquired on 12/02/2021 in a PIPE transaction, which explains the lockup/structured disposition pattern.

Recent daily sales show frequent, varied-size disposals across months, which is consistent with staged liquidity rather than a single large dump; this pattern typically reduces immediate market impact but sustains supply pressure over time. Monitor near-term daily volume vs. sale sizes on 10/08/2025 for execution impact.

TL;DR: The report documents a registered sale from an affiliated holder tied to the PIPE; governance disclosure appears routine.

The seller, identified as Aldel LLC and associated with Robert I. Kauffman, discloses acquisition via the December 2021 business combination and PIPE financing. That linkage clarifies the origin of the shares and aligns with required insider/affiliate reporting.

The form includes the statutory representation that no material non‑public information exists; stakeholders should note continued scheduled dispositions from the same account over prior months as part of typical founder/affiliate liquidity plans.

10/08/2025 - 04:27 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

22629

271548

90942223

10/08/2025

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