[Form 4] Hagerty, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Hagerty, Inc. (HGTY) disclosed that a director reported selling 15,270 shares of Class A common stock on 10/27/2025 at a weighted average price of $11.12, executed under a Rule 10b5-1 trading plan adopted on August 9, 2024.

Trade executions occurred in multiple lots between $10.97 and $11.22. Following the transaction, 898,097 shares were beneficially owned indirectly by Aldel LLC, for which the reporting person serves as manager and disclaims beneficial ownership beyond any pecuniary interest.

Insights

Corporate governance analyst

Preplanned insider sale; routine and neutral in impact.

The filing reports a director’s sale of 15,270 shares at a weighted average of $11.12 on 10/27/2025, executed under a Rule 10b5-1 plan adopted on August 9, 2024. Such plans automate trades to reduce discretion and potential timing concerns.

Prices ranged from $10.97 to $11.22. Post-trade, 898,097 shares are held indirectly by Aldel LLC, where the insider is manager and disclaims beneficial ownership beyond pecuniary interest. This appears administrative; actual market impact depends on ongoing disclosures and holder decisions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KAUFFMAN ROBERT I

(Last) (First) (Middle)

105 S. MAPLE STREET

(Street)

ITASCA IL 60143

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hagerty, Inc. [ HGTY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/27/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/27/2025		S(1)		15,270	D	$11.12(2)	898,097	I(3)	By Aldel LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 9, 2024.

2. This transaction was executed in multiple trades at prices ranging from $10.97 to $11.22. 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.

3. Held by Aldel LLC. The Reporting Person is the manager of Aldel LLC and has voting and investment discretion with respect to the securities held of record by Aldel LLC. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Remarks:

	/s/ Tracey Derenzy, Power of Attorney	10/28/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Hagerty (HGTY) disclose in this insider filing?

A director sold 15,270 shares of Class A common stock on 10/27/2025 at a weighted average of $11.12.

Was the HGTY sale under a Rule 10b5-1 plan?

Yes. It was effected under a Rule 10b5-1 plan adopted on August 9, 2024.

What was the price range for the HGTY trades?

The multiple trades executed between $10.97 and $11.22.

How many HGTY shares does the insider report owning after the sale?

898,097 shares beneficially owned indirectly through Aldel LLC.

What is the insider’s relationship to Hagerty (HGTY)?

The reporting person is a Director.

Is the ownership direct or indirect for the remaining shares?

The filing lists Indirect (I) ownership via Aldel LLC.