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  4. [144] Hagerty, Inc. SEC Filing

Hagerty (HGTY) Rule 144 Notice: 9,844 Shares Proposed Sale

Hagerty, Inc. (HGTY) insider selling notice under Rule 144.

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
144

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?
It reports a proposed sale of 9,844 common shares through Merrill Lynch (NYSE) with aggregate market value $105,921 and records recent sales by the seller.

Who is the seller named in this Rule 144 filing?
The filing identifies Robert I. Kauffman, Aldel LLC as the seller and shows Aldel LLC originally acquired securities as part of a PIPE financing.

How many shares did Aldel LLC acquire and when?
Aldel LLC acquired 3,500,000 shares on 12/02/2021 in connection with the PIPE financing tied to Hagerty’s business combination.

Are there sales by the same person in the past three months?
Yes. The filing lists numerous individual sales by Robert I. Kauffman/Aldel LLC over the past three months with amounts and gross proceeds for each trade.

Through which broker will the proposed sale occur?
The proposed sale of 9,844 shares is listed to occur via Merrill Lynch at 200 Park Ave, New York, NY (13th Fl).

AI-generated analysis. How Rhea-AI works. Not financial advice.

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144: Filer Information

144: Issuer Information

144: Securities Information



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


* 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

144: Remarks and Signature

Source: View Original Filing on SEC EDGAR