[Form 4] Hagerty, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Hagerty, Inc. director Robert I. Kauffman reported multiple disposals of Class A common stock under a Rule 10b5-1 plan. The filing shows sales of 21,314 shares on 10/02/2025 at a weighted average price of $11.98, and 3,024 shares on 10/06/2025 at a weighted average price of $12.01. A further disposition of 67,302 shares is reported without an accompanying price or date. After the two dated transactions, the report lists 1,108,539 shares held indirectly by Aldel LLC; earlier in the filing the indirect holding is shown as 1,111,563 following the first sale. The filer states the transactions were effected under a 10b5-1 trading plan adopted on 08/09/2024 and disclaims beneficial ownership of Aldel LLC holdings except for pecuniary interest. The filing is signed by a power of attorney on 10/06/2025. Note: one disposal line (67,302 shares) lacks a reported execution date and price in the form.

Insights

Insider Transactions Analyst

Director sold 91,640 shares under a pre-set 10b5-1 plan; one line lacks price/date.

The reporting shows two dated sales totaling 24,338 shares executed at weighted averages of $11.98 and $12.01, plus a reported disposition of 67,302 shares without price or date. The filings also show indirect holdings via Aldel LLC of 1,108,539 and 1,111,563 shares at different report points, reflecting the reported changes.

Because the trades are disclosed as part of a 10b5-1 plan adopted on 08/09/2024, they indicate pre-planned activity rather than opportunistic timing; however, the missing execution details for the 67,302-share disposal create an information gap investors may request be clarified within standard SEC procedures.

Corporate Governance Expert

Use of a documented trading plan supports compliance but the report shows a material indirect holding maintained through an LLC.

The filer identifies himself as manager of Aldel LLC with voting and investment discretion and disclaims beneficial ownership except for pecuniary interest. This structure means changes in Aldel's holdings are reported as indirect and can materially affect perceived insider alignment when aggregated with personal holdings.

Investors interested in governance should note the continued indirect holding of over 1.1M shares and may watch for any future, fully detailed Form 4s that reconcile the 67,302-share disposal line and confirm the timing and prices for that trade.

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)
10/02/2025

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	10/02/2025		S(1)		21,314	D	$11.98(2)	1,111,563	I(3)	By Aldel LLC
Class A Common Stock	10/06/2025		S(1)		3,024	D	$12.01(4)	1,108,539	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 $11.75 to $12.18. 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 $11.94 to $12.09. 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/ Tracey Derenzy, Power of Attorney	10/06/2025
	** 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).
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