Director at Hagerty (HGTY) granted 11,871 RSUs in equity compensation
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Kay Sabrina reported acquisition or exercise transactions in this Form 4 filing.
Hagerty, Inc. director Sabrina Kay received an equity award of 11,871 shares of Class A Common Stock in the form of Restricted Stock Units under the company’s 2021 Equity Incentive Plan. These RSUs vest on April 1, 2027, contingent on her continued service, bringing her direct holdings to 54,173 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Kay Sabrina
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 11,871 | $0.00 | -- |
Holdings After Transaction:
Class A Common Stock — 54,173 shares (Direct)
Footnotes (1)
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Key Figures
RSU grant size: 11,871 shares
Grant price per share: $0.00 per share
Total shares after grant: 54,173 shares
+1 more
4 metrics
RSU grant size
11,871 shares
Restricted Stock Units of Class A Common Stock granted to director
Grant price per share
$0.00 per share
Stated transaction price for RSU acquisition
Total shares after grant
54,173 shares
Director’s direct holdings following RSU award
RSU vesting date
April 1, 2027
Vesting date for granted Restricted Stock Units
Key Terms
Restricted Stock Units, 2021 Equity Incentive Plan, vest
3 terms
Restricted Stock Units financial
"underlying Restricted Stock Units ("RSUs") acquired by the Reporting Person"
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.
2021 Equity Incentive Plan financial
"acquired by the Reporting Person under the Issuer's 2021 Equity Incentive Plan"
vest financial
"The RSUs vest on April 1, 2027, subject to the Reporting Person's continued service"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
What insider transaction did Hagerty (HGTY) director Sabrina Kay report?
Director Sabrina Kay reported receiving 11,871 Restricted Stock Units of Hagerty Class A Common Stock as an equity award. The grant was made at a stated price of $0.00 per share and reflects compensation rather than an open-market purchase or sale.
When do Sabrina Kay’s Hagerty (HGTY) RSUs from this grant vest?
The 11,871 Restricted Stock Units awarded to Sabrina Kay vest on April 1, 2027. Vesting is conditioned on her continued service with Hagerty, with exceptions only for death or disability as specified in the equity plan footnote to the transaction.
What is the nature of the Hagerty (HGTY) equity award reported on this Form 4?
The award consists of 11,871 Restricted Stock Units of Class A Common Stock granted under Hagerty’s 2021 Equity Incentive Plan. RSUs are a form of stock-based compensation that convert into shares upon vesting, rather than an immediate cash transaction or market trade.
What does the transaction code “A” mean in this Hagerty (HGTY) Form 4?
The transaction code “A” on this Form 4 indicates a grant, award, or other acquisition of securities. Here it reflects the issuance of 11,871 Restricted Stock Units to director Sabrina Kay as part of her compensation under Hagerty’s 2021 Equity Incentive Plan.