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Hagerty (HGTY) Form 4: Kauffman Disposes 19k Shares, Keeps 3.8M Stake

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Hagerty, Inc. (HGTY) – Form 4 insider transaction summary

Director Robert I. Kauffman, through his investment vehicle Aldel LLC, reported three open-market sales of Class A common stock executed under a Rule 10b5-1 trading plan adopted on 9 Aug 2024.

  • 16 Jun 2025: 4,010 shares sold at a $9.54 weighted-average price.
  • 17 Jun 2025: 4,610 shares sold at a $9.55 weighted-average price.
  • 18 Jun 2025: 10,380 shares sold at a $9.66 weighted-average price.

The combined disposition totals 19,000 shares for proceeds of approximately $181,000. Following the transactions, Kauffman continues to hold 3,789,071 shares indirectly via Aldel LLC and an additional 67,302 shares directly, representing less than 1 % of his prior aggregate ownership and a negligible fraction of Hagerty’s total outstanding shares.

No derivative securities were involved, and there were no purchases disclosed. Because the sales were executed under a pre-arranged 10b5-1 plan and constitute a small proportion of the insider’s position, the filing signals routine portfolio management rather than a strategic shift in outlook.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Routine 19k-share sale under 10b5-1; negligible vs. 3.8 M share stake—market impact minimal.

Robert Kauffman’s disposals amount to roughly 0.5 % of his indirect holdings and are spread over three sessions at prices clustered around $9.6. Execution under a pre-established 10b5-1 plan reduces signaling risk and suggests the transactions are for liquidity or diversification, not a change in fundamental conviction. The remaining stake (≈3.86 M shares combined) maintains his alignment with shareholders. Given the small volume relative to Hagerty’s daily trading liquidity and outstanding float, I view the filing as informational with no material valuation implications.

Insider KAUFFMAN ROBERT I
Role Director
Sold 19,000 shs ($183K)
Type Security Shares Price Value
Sale Class A Common Stock 10,380 $9.66 $100K
Sale Class A Common Stock 4,610 $9.55 $44K
Sale Class A Common Stock 4,010 $9.54 $38K
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 3,789,071 shares (Indirect, By Aldel LLC); Class A Common Stock — 67,302 shares (Direct)
Footnotes (1)
  1. The reported sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 9, 2024. This transaction was executed in multiple trades at prices ranging from $9.43 to $9.64. 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. 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. This transaction was executed in multiple trades at prices ranging from $9.47 to $9.67. 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. This transaction was executed in multiple trades at prices ranging from $9.53 to $9.75. 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.
Form 4 Insider Transactions: What Each Field Means →
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)
06/16/2025
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 06/16/2025 S(1) 4,010 D $9.54(2) 3,804,061 I(3) By Aldel LLC
Class A Common Stock 06/17/2025 S(1) 4,610 D $9.55(4) 3,799,451 I(3) By Aldel LLC
Class A Common Stock 06/18/2025 S(1) 10,380 D $9.66(5) 3,789,071 I(3) By Aldel LLC
Class A Common Stock 67,302 D
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 $9.43 to $9.64. 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.
4. This transaction was executed in multiple trades at prices ranging from $9.47 to $9.67. 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.
5. This transaction was executed in multiple trades at prices ranging from $9.53 to $9.75. 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.
Remarks:
/s/ Kieron Lake, Power of Attorney 06/18/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many Hagerty (HGTY) shares did Director Robert Kauffman sell?

The Form 4 reports a total sale of 19,000 Class A shares across three transactions.

What was the average sale price of the HGTY insider transactions?

Weighted-average prices were $9.54, $9.55, and $9.66 for the respective trade dates.

Does Robert Kauffman still own Hagerty shares after the sale?

Yes. He retains 3,789,071 shares indirectly via Aldel LLC and 67,302 shares directly.

Were the sales conducted under a Rule 10b5-1 plan?

Yes. The filing states the trades were executed under a 10b5-1 plan adopted on August 9, 2024.

Is the reported insider selling considered material to Hagerty investors?

Given the sale is <1 % of Kauffman’s holdings and pre-planned, it is generally viewed as immaterial.