Hagerty holder sells 10.6M shares at $11.47
Rhea-AI Filing Summary
Hagerty, Inc. (HGTY) reported that ten percent owner Hagerty Holding Corp. converted "Paired Interests" (each consisting of one share of Class V Common Stock and one OpCo unit) into Class A Common Stock on September 9 and 11, 2026 under an Exchange Agreement, and then sold 10,637,500 Class A shares in open-market or private transactions at $11.472 per share. No Rule 10b5-1 trading plan is reported in connection with these transactions, and post-transaction share holdings are not stated in this form.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
6 txns
Insider
Hagerty Holding Corp.
Role
10% Owner
Sold
10,637,500 shs ($122.03M)
Approx. gross sale proceeds
$122.03M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class V Common Stock F3, F2 | 1,387,500 | -- | -- |
| Conversion | Class A Common Stock F2 | 1,387,500 | -- | -- |
| Sale | Class A Common Stock | 1,387,500 | $11.472 | $15.92M |
| Conversion | Class V Common Stock F3, F1 | 9,250,000 | -- | -- |
| Conversion | Class A Common Stock F1 | 9,250,000 | -- | -- |
| Sale | Class A Common Stock | 9,250,000 | $11.472 | $106.12M |
Holdings After Transaction:
Class V Common Stock — 155,914,656 contracts (Direct);
Class A Common Stock — 0 shares (Direct)
Footnotes (3)
- F1. 9,250,000 shares of Class A Common Stock were issued to the Reporting Person in exchange for an equal number of Paired Interests (as defined below) that were surrendered by the Reporting Person pursuant to the Amended and Restated Exchange Agreement, dated as of December 2, 2021 and amended and restated as of March 23, 2022 (the "Exchange Agreement"), among the Issuer, The Hagerty Group, LLC ("OpCo"), the Reporting Person, Markel Corporation ("Markel") and each of the Reporting Person's and Markel's Qualified Transferees (as defined therein). Each "Paired Interest" consists of one share of Class V Common Stock of the Issuer and one unit of limited liability company interest of OpCo and may be surrendered by the Reporting Person pursuant to the Exchange Agreement in exchange for a share of Class A Common Stock of the Issuer or, at the option of the Issuer, cash.
- F2. 1,387,500 shares of Class A Common Stock were issued to the Reporting Person in exchange for an equal number of Paired Interests that were surrendered by the Reporting Person pursuant to the Exchange Agreement.
- F3. Each Paired Interest has no expiration date and may be surrendered by the Reporting Person pursuant to the Exchange Agreement in exchange for a share of Class A Common Stock of the Issuer or, at the option of the Issuer, cash.
Key Figures
Net shares sold: 10,637,500 shares
Sale price per share: $11.472
Shares converted from Paired Interests on September 9, 2026: 9,250,000 shares
+2 more
5 metrics
Net shares sold
10,637,500 shares
Net shares sold by Hagerty Holding Corp. across reported transactions
Sale price per share
$11.472
Price for Class A Common Stock sales on September 9 and 11, 2026
Shares converted from Paired Interests on September 9, 2026
9,250,000 shares
Class A shares issued in exchange for Paired Interests under the Exchange Agreement
Shares converted from Paired Interests on September 11, 2026
1,387,500 shares
Additional Class A shares issued in exchange for Paired Interests
Total derivative conversions reported
10,637,500 shares
Total Class A Common Stock received from conversion of Paired Interests
Key Terms
Paired Interests, Exchange Agreement, Class V Common Stock
3 terms
Paired Interests financial
"Each "Paired Interest" consists of one share of Class V Common Stock..."
Exchange Agreement regulatory
"pursuant to the Amended and Restated Exchange Agreement, dated as of..."
A written deal in which two parties agree to swap assets, securities or obligations under set terms—think of it as a formal swap or trade contract. For investors it matters because such agreements can change who owns what, alter a company’s capital structure, affect future cash flows or dilute existing shares, and therefore influence value and risk in a straightforward, contract-driven way.
Class V Common Stock financial
"Each "Paired Interest" consists of one share of Class V Common Stock..."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider activity did HGTY report in this Form 4?
The Form 4 reports that Hagerty Holding Corp., a ten percent owner, converted Paired Interests into Class A Common Stock and sold 10,637,500 Class A shares in open-market or private transactions on September 9 and 11, 2026.
What are Paired Interests referenced in the HGTY Form 4?
Each Paired Interest consists of one share of Hagerty Class V Common Stock and one unit of limited liability company interest of The Hagerty Group, LLC (OpCo), exchangeable for one Class A share of Hagerty or, at Hagerty’s option, cash.
On which dates did the Hagerty (HGTY) insider transactions occur?
The reported conversions and related sales occurred on September 9, 2026 and September 11, 2026, involving both exchanges of Paired Interests and subsequent sales of the resulting Class A Common Stock.
Were the HGTY insider sales made under a Rule 10b5-1 trading plan?
No. The filing indicates that no Rule 10b5-1 plan is reported for these transactions, meaning they are not affirmatively designated as pre-arranged under such a trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
