[144] Hagerty, Inc. SEC Filing
Rhea-AI Filing Summary
Hagerty, Inc. (HGTY) insider selling notice under Rule 144. The filer reports a proposed sale of 9,844 common shares through Merrill Lynch on the NYSE with an aggregate market value of $105,921, against approximately 90,942,223 shares outstanding. The securities were originally acquired on 12/02/2021 by Aldel LLC as part of a PIPE financing that accompanied Hagerty’s business combination. The filing also lists numerous sales by Robert I. Kauffman/Aldel LLC during the past three months, with individual transactions and gross proceeds recorded (examples include sales of 98,766 and 110,600 shares on single days). The notice includes the required representation about absence of undisclosed material information.
Positive
- None.
Negative
- Insider selling documented: Multiple sizeable dispositions by Robert I. Kauffman/Aldel LLC are listed in the past three months, increasing public float.
- Large original PIPE allocation: Aldel LLC acquired 3,500,000 shares on 12/02/2021, indicating a prior substantial insider position that has been subject to subsequent sales.
Insights
TL;DR: Significant insider-originated volume recorded; watch dilution and floating share impact.
The filing documents a Rule 144 notice for 9,844 shares to be sold through Merrill Lynch and details extensive recent sales by Robert I. Kauffman/Aldel LLC across many dates with listed gross proceeds per trade. The securities were acquired in a 12/02/2021 PIPE transaction totaling 3,500,000 shares to Aldel LLC. From an equity-supply perspective, the combination of the large PIPE acquisition history and repeated dispositions within the past three months increases the number of shares moving into the public float. This is a factual disclosure of transfers and proposed sales rather than an operational update.
TL;DR: Recurrent insider sales disclosed; compliance with Rule 144 and 10b5-1 representation present.
The document provides the Rule 144 notice elements including acquisition history, broker, planned sale amount, and a statement regarding material nonpublic information and any trading plan. It shows Aldel LLC’s original PIPE acquisition and many executed sales by Robert I. Kauffman/Aldel LLC in the recent three-month window with specific per-trade gross proceeds. The filing fulfills disclosure requirements; it does not include management commentary or other governance changes.
FAQ
What does the Form 144 for Hagerty, Inc. (HGTY) report?
Who is the seller named in this Rule 144 filing?
How many shares did Aldel LLC acquire and when?
Are there sales by the same person in the past three months?
Through which broker will the proposed sale occur?
