[144] Hagerty, Inc. SEC Filing
Rhea-AI Filing Summary
Hagerty, Inc. (HGTY) Form 144 notifies a proposed sale of 28,736 common shares with an aggregate market value of $322,130.00, to be sold on or about 08/28/2025 through Merrill Lynch on the NYSE. The securities were acquired on 12/02/2021 as part of a PIPE financing tied to Hagerty's business combination, with 3,500,000 shares recorded as acquired by Aldel LLC. The filer for whose account the sales are proposed is identified as Robert I. Kauffman / Aldel LLC. The filing also lists extensive prior sales by the same seller across May through August 2025, including a single-day sale of 110,600 shares on 07/24/2025. The issuer's reported number of shares outstanding in the notice is 90,942,223.
Positive
- Notice discloses acquisition source and date (acquired 12/02/2021 via PIPE financing as stated)
- Planned sale details are specific: 28,736 shares, $322,130 aggregate value, broker and exchange listed (Merrill Lynch, NYSE)
- Comprehensive prior-sale listing showing dates and gross proceeds for sales from May to August 2025
Negative
- Significant recent dispositions reported by the same seller, including a large single-day sale of 110,600 shares on 07/24/2025
- Notice shows reliance on previously acquired PIPE shares (3,500,000), but does not state remaining holdings after recent sales
Insights
TL;DR: Form 144 discloses a modest planned sale and extensive prior dispositions by Aldel LLC; details are compliance-focused.
The filing documents a proposed disposition of 28,736 Hagerty common shares valued at $322,130, to be executed via Merrill Lynch on the NYSE around 08/28/2025. Acquisition origin is explicit: the shares were obtained on 12/02/2021 through a PIPE related to Hagerty's business combination. The notice lists numerous prior cash sales by Robert I. Kauffman/Aldel LLC from May through August 2025, with the largest single-day reported sale of 110,600 shares on 07/24/2025. For investors, the record here is primarily informational and centered on regulatory disclosure obligations; the document does not provide commentary on intent beyond the required representation about material nonpublic information.
TL;DR: The filing appears procedurally complete, showing acquisition source and recent dispositions consistent with Rule 144 requirements.
The Form 144 identifies the seller (Robert I. Kauffman/Aldel LLC), the broker (Merrill Lynch), acquisition date (12/02/2021) and nature (PIPE financing), and the planned sale details (28,736 shares; $322,130 aggregate value; NYSE execution). It also includes an itemized list of prior sales over the past three months, meeting the disclosure expectations of the form. The filing contains the required signer representation regarding knowledge of material nonpublic information. No additional governance or procedural deficiencies are stated in the content provided.
FAQ
What does Hagerty's (HGTY) Form 144 filed by Aldel LLC disclose?
Who is the seller named on the Form 144 for HGTY?
When and how were the securities being sold originally acquired?
Does the Form 144 list recent sales by the same seller?
Through which broker and exchange is the proposed sale planned?
