[144] Hagerty, Inc. SEC Filing
Rhea-AI Filing Summary
Hagerty, Inc. (HGTY) Form 144 shows a proposed sale of 62,500 common shares through Merrill Lynch on the NYSE with an aggregate market value of $701,875 and approximately 90,942,223 shares outstanding. The securities were originally acquired by Aldel LLC on 12/02/2021 as part of a PIPE tied to Hagerty's business combination and the filing lists the nature of the payment as stock. The filing also discloses numerous secondary sales by Robert I. Kauffman/Aldel LLC between 06/02/2025 and 08/28/2025, including several large blocks (for example, 110,600 shares sold on 07/24/2025). The filer certifies no undisclosed material adverse information.
Positive
- Planned sale fully disclosed: Form 144 specifies 62,500 shares, broker (Merrill Lynch), exchange (NYSE), and aggregate value ($701,875).
- Acquisition provenance provided: The filing states the shares were acquired by Aldel LLC on 12/02/2021 via a PIPE related to the business combination.
- Extensive transaction history included: Detailed list of secondary sales from 06/02/2025 through 08/28/2025 increases transparency.
Negative
- Frequent prior sales: Numerous dispositions by Robert I. Kauffman/Aldel LLC are listed in the past three months, including large blocks (e.g., 110,600 shares on 07/24/2025).
- Potential selling pressure signaled: The volume and frequency of reported sales show sustained liquidity from a related holder (factually reported in the filing).
Insights
TL;DR: Form 144 reports a planned 62,500-share sale and extensive prior secondary sales by Aldel LLC, signaling notable insider liquidity.
The filing documents a proposed brokered sale of 62,500 common shares valued at $701,875 and confirms the shares were acquired in a PIPE on 12/02/2021. The detailed ledger of transactions between 06/02/2025 and 08/28/2025 shows frequent disposals, including several large blocks such as 110,600 shares on 07/24/2025. For analysts, this is a clear record of insider or related-party selling activity; the filing itself contains no performance metrics or forward guidance.
TL;DR: The Form 144 is a routine disclosure of proposed insider-related sales with full acquisition provenance noted.
The notice identifies Aldel LLC as the holder and discloses acquisition via the PIPE tied to Hagerty's business combination, meeting disclosure expectations. The signer affirms no undisclosed material adverse information. The filing provides transparency on timing, broker, and transaction history but does not include any trading plan adoption date or additional governance context.
FAQ
What does the Form 144 for Hagerty (HGTY) disclose about the proposed sale?
Who acquired the securities being sold and when were they acquired?
Does the filing list previous sales of Hagerty shares by the same holder?
Which broker and exchange are involved in the planned sale?
What representation does the filer make about undisclosed material information?
