Hagerty CEO's trust gifts 530K preferred shares
The AMH Irrevocable Trust held 176,740 preferred shares; each converts based on a $9.43 liquidation preference and an $11.79 conversion price.
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Form Type
4
Rhea-AI Filing Summary
McKeel Hagerty, Hagerty, Inc.’s Chief Executive Officer, reported that the McKeel O Hagerty Revocable Trust gifted 530,220 Series A Convertible Preferred Stock shares on November 6, 2026, for estate-planning purposes; the trust held 2 shares afterward. Separately, the AMH Irrevocable Trust held 176,740 Series A preferred shares, convertible into 141,362 Class A common shares at an $11.79 conversion price. McKeel Hagerty disclaimed beneficial ownership of the AMH trust securities.
Insider Trade Summary
530,220 shares gifted
Gift
1 txn
Insider
Hagerty McKeel
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Series A Convertible Preferred Stock F1, F2, F3, F4 | 530,220 | $0.00 | $0.00 |
| Holding | Series A Convertible Preferred Stock F1, F3, F5 | -- | -- | -- |
Holdings After Transaction:
Series A Convertible Preferred Stock — 2 shares (Indirect, Held by McKeel O Hagerty Revocable Trust dated September 18, 2003);
Series A Convertible Preferred Stock — 176,740 shares, with 141,362 underlying shares of Class A Common Stock (Indirect, Held by AMH Irrevocable Trust dated July 2, 2026)
Holdings Before and After:
Series A Convertible Preferred Stock, 530,222 to 2 shares (Indirect, Held by McKeel O Hagerty Revocable Trust dated September 18, 2003)
Footnotes (5)
- F1. Each share of Series A Convertible Preferred Stock is convertible into the number of shares of Class A Common Stock equal to its liquidation preference of $9.43 divided by the conversion price of $11.79
- F2. Gifts to trusts for estate planning purposes.
- F3. Issuer may require Reporting Person to convert all or any portion of Series A Preferred Stock where: (i) if, on or after the third anniversary of June 23, 2023 (the "Issue Date") and prior to the seventh anniversary of the Issue Date, the closing price of the Class A Common Stock exceeds 150% of the Conversion Price for at least twenty (20) trading days in any period of thirty (30) consecutive trading days; (ii) if, on or after the seventh anniversary of the Issue Date and prior to the tenth anniversary of the Issue Date, the closing price of the Class A Common Stock exceeds 100% of the Conversion Price for at least twenty (20) trading days in any period of thirty (30) consecutive trading days; or (iii) on or after the tenth anniversary of the Issue Date.
- F4. Held by McKeel O Hagerty Revocable Trust dated September 18, 2003 (the "Trust"). Reporting Person is the trustee for the Trust and has investment power over the Series A Convertible Preferred Stock held by the Trust.
- F5. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
Key Figures
Gifted Series A preferred shares: 530,220 shares
Series A preferred shares held after gift: 2 shares
Series A preferred shares held: 176,740 shares
+3 more
6 metrics
Gifted Series A preferred shares
530,220 shares
Gift by the McKeel O Hagerty Revocable Trust on November 6, 2026
Series A preferred shares held after gift
2 shares
McKeel O Hagerty Revocable Trust, following the November 6, 2026 transaction
Series A preferred shares held
176,740 shares
AMH Irrevocable Trust
Underlying Class A common shares
141,362 shares
Convertible from the Series A preferred shares held by AMH Irrevocable Trust
Conversion price
$11.79
Series A Convertible Preferred Stock
Liquidation preference
$9.43
Per share of Series A Convertible Preferred Stock
Key Terms
Series A Convertible Preferred Stock, liquidation preference, conversion price, beneficial ownership
4 terms
Series A Convertible Preferred Stock financial
"Each share of Series A Convertible Preferred Stock is convertible"
Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.
liquidation preference financial
"its liquidation preference of $9.43"
A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.
conversion price financial
"divided by the conversion price of $11.79"
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
beneficial ownership regulatory
"disclaims beneficial ownership of these securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How does Hagerty’s Series A preferred stock convert into Class A common stock?
Each share of Series A Convertible Preferred Stock is convertible into a number of Class A Common Stock shares equal to its $9.43 liquidation preference divided by the $11.79 conversion price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
