[144] Hagerty, Inc. SEC Filing
Rhea-AI Filing Summary
Hagerty, Inc. (HGTY) Form 144 discloses a proposed sale of 22,295 common shares through Merrill Lynch on the NYSE with an aggregate market value of $248,480. The filer indicates acquisition of 3,500,000 shares on 12/02/2021 as part of a PIPE related to the business combination with Hagerty. The filing lists extensive prior open-market sales by Robert I. Kauffman/Aldel LLC between 06/02/2025 and 08/29/2025, including several large blocks (for example, 110,600 shares on 07/24/2025 and 98,766 shares on 07/09/2025), with individual gross proceeds shown for each sale. The notice includes the standard signature representation about absence of undisclosed material adverse information.
Positive
- Transparent disclosure of proposed sale details including broker, exchange, share count, and market value
- Origin of holdings disclosed: acquisition of 3,500,000 shares on 12/02/2021 as part of the PIPE financing
- Comprehensive historical sales listing providing dates and gross proceeds for prior open-market dispositions
Negative
- Significant prior selling activity by Robert I. Kauffman/Aldel LLC across June–August 2025, including large blocks (e.g., 110,600 and 98,766 shares)
- Potential dilution/liquidity pressure from continued disposition of shares, as evidenced by repeated sales over the reported period
Insights
TL;DR: Routine Form 144 disclosure of insider-related sales; transaction sizes appear small relative to total shares outstanding.
The filing documents a proposed sale of 22,295 shares valued at $248,480 and details prior systematic sales by Robert I. Kauffman/Aldel LLC across June–August 2025. The filer acquired 3.5 million shares in a December 2021 PIPE. Given total shares outstanding of 90,942,223, the proposed block is a very small fraction of outstanding stock (~0.025%). The list of prior sales shows ongoing liquidity events but the filing itself contains no new operational or financial disclosures about the company.
TL;DR: Transparent compliance filing documenting planned sales and prior dispositions; no governance red flags disclosed here.
The Form 144 serves to notify the market of proposed Rule 144 sales and records past transactions by a related party. It confirms acquisition origin (PIPE) and lists broker and exchange details. There is no indication of undisclosed material information and the attestation language is included. This is a routine compliance disclosure rather than a material corporate governance event.
FAQ
What does Hagerty (HGTY) Form 144 disclose about the proposed sale?
Who is the filer and how were the shares acquired?
How much of Hagerty's outstanding stock does the proposed sale represent?
Does the filing show prior sales by the filer?
Is there any new company operational or earnings information in this Form 144?
