HGTY Form 4: RSU tax-withholding sale of 1,076 shares; 993 ESPP shares bought
Rhea-AI Filing Summary
Hagerty, Inc. insider Diana Chafey, who serves as Chief Legal Officer, reported two transactions in early October 2025. On 10/01/2025 she disposed of 1,076 shares of Class A common stock at $11.95 per share; the filing explains these were shares withheld for taxes when restricted stock units vested from an award dated 10/01/2023. On 10/02/2025 she acquired 993 shares under Hagerty's Employee Stock Purchase Plan for the April 1–September 30, 2025 offering period, at a per‑share price equal to 95% of the closing price on 10/01/2025 ($11.35 shown). The Form 4 was signed via power of attorney on 10/03/2025.
Positive
- Participation in the ESPP with 993 shares purchased at a 5% discount demonstrates ongoing employee alignment with the company
- RSU vesting occurred (grant date 10/01/2023), indicating equity compensation is being delivered per plan
Negative
- Disposition of 1,076 shares at $11.95 was reported, which reduces the reporting person's direct holding
- Net change in shares is a modest decrease (55,941 to 56,934 shows reported holdings movement across days)
Insights
Insider reported a tax-withholding sale and ESPP purchase in consecutive days.
The Form 4 discloses a tax withholding sale of 1,076 shares at $11.95 tied to RSU vesting, which is a common administrative step following equity vesting and does not itself indicate discretionary liquidation beyond tax obligations.
The subsequent ESPP purchase of 993 shares at 95% of the closing price shows continued participation in the company's employee purchase program; both actions are clearly documented and consistent with standard executive equity activity.
Transactions reflect routine equity-plan mechanics: RSU vesting withholding and ESPP buy-in.
The filing states the RSU award had a grant date of 10/01/2023 and that shares were withheld for taxes, while ESPP shares were acquired for the offering period ending 9/30/2025. These entries document plan executions rather than new compensation terms or grants disclosed in this Form 4.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 993 | $11.35 | $11K |
| Tax Withholding | Class A Common Stock | 1,076 | $11.95 | $13K |
Footnotes (1)
- Represents total number of shares of Class A Common Stock of the Issuer withheld for taxes upon vesting of RSUs pursuant to Reporting Person's RSU award agreement with a grant date of October 1, 2023. Shares acquired pursuant to the Hagerty, Inc. Employee Stock Purchase Plan ("ESPP") for the ESPP offering period of April 1, 2025 through September 30, 2025. In accordance with the ESPP, the per share price paid for these shares was an amount equal to 95% of the closing price of the Issuer's stock on October 1, 2025.
