[144] Hagerty, Inc. SEC Filing

Q: What does Hagerty (HGTY) Form 144 filed by Aldel LLC disclose?

The filing discloses a proposed sale of 30,187 common shares (~$361,036) via Merrill Lynch, with the approximate sale date of 09/30/2025 .

Q: Who is the selling party in the HGTY Form 144?

The seller is reported as Robert I. Kauffman, Aldel LLC , with shares originally acquired on 12/02/2021 as part of a PIPE financing.

Q: How many shares did Aldel LLC acquire in the PIPE mentioned in the filing?

The filing states Aldel LLC acquired 3,500,000 shares on 12/02/2021 pursuant to the business combination financing.

Q: On which exchange will the proposed HGTY sale occur?

The filing indicates the sales are to occur on the NYSE through Merrill Lynch.

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

144

Rhea-AI Filing Summary

Hagerty, Inc. (HGTY) Form 144 notifies the SEC of a proposed sale of 30,187 common shares through Merrill Lynch with an aggregate market value of $361,036, planned approximately on 09/30/2025 on the NYSE. The shares were originally acquired on 12/02/2021 by Aldel LLC as part of a PIPE related to Hagerty's business combination; Aldel reports 3,500,000 shares acquired on that date. The filing lists multiple recent sales by Robert I. Kauffman/Aldel LLC from June through September 2025, including several large blocks, and states the filer represents no undisclosed material adverse information.

Positive

Transparent disclosure of proposed sale details including broker, share count, market value, and acquisition history
Compliance with Rule 144 procedures shown by specifying broker execution and origin of shares from a disclosed PIPE

Negative

Ongoing insider-affiliated selling by Robert I. Kauffman/Aldel LLC across June–September 2025 may signal concentrated liquidation activity
Large initial grant noted (3,500,000 shares acquired in the PIPE) which implies potential for further future sales

Insights

TL;DR: Insider-affiliated entity is continuing scheduled sales, disclosed under Rule 144; transaction size is small relative to outstanding shares.

The Form 144 documents a proposed sale of 30,187 shares valued at $361,036 and details prior sales by Robert I. Kauffman/Aldel LLC across June–September 2025. Given the issuer's reported 90,942,223 shares outstanding, the proposed block represents a de minimis percentage of the float. The filing also confirms acquisition provenance (PIPE on 12/02/2021) and use of a broker-dealer, indicating standard compliance with Rule 144 resale procedures.

TL;DR: Disclosure is timely and detailed, showing ongoing insider-affiliated liquidity events but no explicit material developments.

The notice identifies Aldel LLC (linked to Robert I. Kauffman) as the selling party and enumerates many prior disposals, which may reflect a planned distribution program or ongoing monetization. The form includes the seller's representation of no undisclosed material information and specifies broker execution via Merrill Lynch. From a governance perspective, transparent filings like this reduce compliance risk, though aggregated insider selling can be a signaling factor for some investors.

09/30/2025 - 04:26 PM

144: Filer Information

Filer CIK

Filer CCC

Is this a LIVE or TEST Filing?

LIVE TEST

Submission Contact Information

Name

Phone

E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold

Name and Address of the Broker

Number of Shares or Other Units To Be Sold

Aggregate Market Value

Number of Shares or Other Units Outstanding

Approximate Date of Sale

Name the Securities Exchange

Common

Merrill Lynch
225 Liberty St, 39th Floor
New York NY 10281

30187

361036

90942223

09/30/2025

NYSE

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

Title of the Class

Date you Acquired

Nature of Acquisition Transaction

Name of Person from Whom Acquired

Is this a Gift?

Date Donor Acquired

Amount of Securities Acquired

Date of Payment

Nature of Payment *

Common

12/02/2021

Per the 8-K filed in December 2021 announcing the business combination with Hagerty, Aldel LLC acquired the stock as a part of the connected PIPE financing

Hagerty Inc.

3500000

12/02/2021

Stock

* 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

Name and Address of Seller

Title of Securities Sold

Date of Sale

Amount of Securities Sold

Gross Proceeds