[144] Hagerty, Inc. SEC Filing
Hagerty, Inc. (HGTY) Form 144: The filer notifies a proposed sale of 11,433 common shares through Merrill Lynch with an aggregate market value of $146,228, against 90,942,223 shares outstanding, with an approximate sale date of 09/15/2025. The filing states the shares were originally acquired on 12/02/2021 by Aldel LLC as part of a PIPE connected to Hagerty’s business combination, and that Aldel LLC received 3,500,000 shares on that date. The notice also lists multiple common-stock sales by Robert I. Kauffman/Aldel LLC between 06/16/2025 and 09/03/2025, with individual transactions and gross proceeds shown (examples include 110,600 shares on 07/24/2025 for $1,156,876 and 41,669 shares on 09/03/2025 for $471,276). The filer certifies no undisclosed material adverse information.
- Required disclosures are provided: acquisition date, acquisition source (PIPE), broker name (Merrill Lynch), and detailed recent-sale entries
- Proposed sale size (11,433 shares) is small relative to the 90,942,223 shares outstanding
- Frequent prior sales by Robert I. Kauffman/Aldel LLC are listed across June–September 2025, which may increase available float
- Form contains no new operational or financial information that would explain the timing or rationale for the sales
Insights
TL;DR: Routine Form 144 disclosing insider-related sales; no new company operational information disclosed.
The filing reports a proposed sale of 11,433 shares via Merrill Lynch and documents a history of multiple open-market dispositions by Robert I. Kauffman/Aldel LLC from June to early September 2025. The shares to be sold were acquired in the 12/02/2021 PIPE and represent a small fraction of the 90.94 million shares outstanding. This form is a transfer/sale notice and does not present financial results or new corporate events. For investors, the material points are the size and cadence of insider-related liquidity events shown in the transaction table.
TL;DR: Disclosure appears compliant and includes required acquisition and sale details; raises governance questions only about sale pace.
The Form 144 provides the statutory disclosures: acquisition source (PIPE), acquisition date, number of shares acquired, broker details, and a comprehensive list of recent sales with gross proceeds. That satisfies Rule 144 notice requirements. The filing itself contains no allegation of undisclosed material information; however, the frequency and volume of reported sales by a related party over the prior three months may be of interest to stakeholders monitoring insider liquidity and potential impacts on free float. The form remains procedural rather than corrective or restative.
FAQ
What does Hagerty (HGTY) Form 144 disclose about planned sales?
Who is the selling party in the HGTY Form 144?
When and how were the securities being sold originally acquired?
How many shares outstanding does Hagerty report in the filing?
Are the recent sales listed with amounts and proceeds?
