Hagerty director sells shares to cover taxes
Hagerty, Inc. director Laurie Harris sold 5,531 shares of Class A Common Stock in an open-market transaction.
Rhea-AI Filing Summary
Hagerty, Inc. director Laurie Harris sold 5,531 shares of Class A Common Stock in an open-market transaction. The sale took place on April 7, 2026 at a weighted average price of $11.01 per share, with trade prices ranging from $10.91 to $11.10.
According to the disclosure, the sale occurred automatically under a Rule 10b5-1 trading plan adopted on November 10, 2025 and was a non-discretionary "sell to cover" transaction. The shares sold were used to satisfy tax withholding obligations related to the vesting of Harris's restricted stock units. Following this transaction, Harris directly owns 36,689 shares of Hagerty Class A Common Stock.
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Insider Trade Summary 10b5-1
Net Seller: 5,531 shares
Net Sell
1 txn
Insider
Harris Laurie
Role
Director
Sold
5,531 shs ($61K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 5,531 | $11.01 | $61K |
Holdings After Transaction:
Class A Common Stock — 36,689 shares (Direct)
Footnotes (2)
- F1. The sale occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on November 10, 2025, and does not represent a discretionary transaction. The reported sale represents a "sell to cover" transaction and equals the number of shares required to be sold by the Reporting Person to satisfy tax withholding obligations in connection with the vesting of the Reporting Person's restricted stock units.
- F2. This transaction was executed in multiple trades at prices ranging from $10.91 to $11.10. The price reported above reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
Key Figures
Shares sold: 5,531 shares
Weighted average sale price: $11.01 per share
Post-transaction holdings: 36,689 shares
+2 more
5 metrics
Shares sold
5,531 shares
Open-market sale on April 7, 2026
Weighted average sale price
$11.01 per share
Class A Common Stock sale
Post-transaction holdings
36,689 shares
Direct ownership after sale
Trade price range
$10.91–$11.10 per share
Multiple trades within the sale
Net shares sold
5,531 shares
Net-sell direction in transaction summary
Key Terms
Rule 10b5-1 trading plan, sell to cover, restricted stock units, weighted average purchase price
4 terms
Rule 10b5-1 trading plan regulatory
"The sale occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
sell to cover financial
"The reported sale represents a "sell to cover" transaction and equals the number of shares required to be sold"
Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.
restricted stock units financial
"tax withholding obligations in connection with the vesting of the Reporting Person's restricted stock units"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
weighted average purchase price financial
"The price reported above reflects the weighted average purchase price"
The weighted average purchase price is the average cost per share you paid across multiple buys, calculated so larger purchases count more than smaller ones. Imagine buying apples at different prices: the overall price you effectively paid depends on how many apples you bought at each price. Investors use it to measure true cost basis, calculate gains or losses, decide when to sell, and manage taxes and portfolio performance.
FAQ
What insider transaction did Hagerty (HGTY) director Laurie Harris report?
Laurie Harris reported selling 5,531 shares of Hagerty Class A Common Stock. The transaction occurred on April 7, 2026, as an open-market sale at a weighted average price of $11.01 per share, with individual trade prices between $10.91 and $11.10.
Was the Hagerty (HGTY) stock sale by Laurie Harris made under a trading plan?
Yes. The filing states the sale occurred automatically under a Rule 10b5-1 trading plan. That plan was adopted on November 10, 2025, meaning the transaction’s timing was pre-arranged rather than based on short-term market conditions.
What type of securities were involved in Laurie Harris’s Hagerty (HGTY) Form 4 transaction?
The transaction involved Hagerty, Inc. Class A Common Stock. These were non-derivative securities sold in the open market as part of a tax-related sell-to-cover event linked to the vesting of restricted stock units held by Laurie Harris.
AI-generated analysis. How Rhea-AI works. Not financial advice.
