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Hagerty, Inc. (HGTY) 鈥� Form 144 filing

Robert I. Kauffman, acting through Aldel LLC, filed a Form 144 to sell up to 4,000 common shares (approx. $43,147) on or about 28 Jul 2025 via Merrill Lynch on the NYSE. The shares were originally acquired on 2 Dec 2021 in the PIPE financing that accompanied Hagerty鈥檚 de-SPAC business combination.

The notice also details 57 prior open-market sales from 24 Apr to 25 Jul 2025 totaling roughly 912,500 shares for cumulative proceeds of about $9鈥�10 million, including a single block of 110,600 shares on 24 Jul 2025. Hagerty lists 90.7 million shares outstanding, so the disclosed sales represent just under 1 % of the public float.

While the additional 4 k-share sale is immaterial in isolation, the sustained pace and size of recent insider disposals could weigh on investor sentiment and near-term trading dynamics.

SM Energy Company (SM) filed a Form 4 reporting that Senior Vice President 鈥� Texas Blake Douglas McKenna received 12,481 restricted stock units (RSUs) on 25 Jul 2025. Each RSU entitles the holder to one share of common stock.

The award carries no exercise price and vests in three equal annual installments beginning 1 Jul 2026. Upon this grant, McKenna holds 12,481 derivative securities directly; no open-market purchases or sales of SM common shares were disclosed.

This appears to be routine equity compensation rather than an active investment decision. While it modestly aligns executive and shareholder interests, the transaction is unlikely to affect near-term valuation or trading dynamics.

Form 4 filed for Plug Power (PLUG) discloses routine non-employee director compensation for Patrick Joggerst on 07/03/2025.

• Restricted stock: 76,531 common shares granted at $0; vests on the earlier of the first anniversary of the grant or the next annual meeting held 鈮�50 weeks after the prior meeting. Joggerst鈥檚 direct holdings rise to 178,201 shares.
• Stock options: 76,531 options with a $1.47 exercise price, expiring 07/03/2035; same vesting schedule as the restricted shares.

No shares were sold. The awards slightly increase potential dilution (鈮�0.01% of basic shares) but strengthen alignment between the director and shareholders by tying future value to share-price appreciation from a depressed base level. No immediate cash or earnings impact is expected, so the filing is considered neutral from a valuation standpoint.

Ameris Bancorp (ABCB) filed a Form 144 indicating an insider鈥檚 intent to sell up to 1,786 common shares through Citigroup Global Markets on or after 24 Jul 2025. The aggregate market value of the planned sale is listed at $117,876, implying a reference price of roughly $66.00 per share.

The shares derive from restricted-stock vesting received directly from the company; no cash purchase was involved. Relative to the 68.9 million shares outstanding, the proposed sale represents only about 0.003 % of the float, signalling an immaterial dilution or ownership change. The filer affirms possession of no undisclosed material adverse information as required under Rule 144.

Hagerty, Inc. (HGTY) filed an 8-K announcing it has signed a non-binding letter of intent with Markel Group to restructure their long-standing Essentia Insurance relationship into a full fronting arrangement expected to be executed in 2025 and effective 1 Jan 2026.

Proposed changes

• Risk & premium: Hagerty Re would assume 100 % of premiums and underwriting risk (vs. 80 %), making Markel a pure fronting carrier.
• Authority: Hagerty鈥檚 underwriting, pricing and claims authority would expand to the maximum permitted by law.
• Economics: Hagerty Re would pay Markel a 2 % fronting fee, which slides lower as policy volume grows, replacing current ceding commissions.

Expected impact

• Management expects higher profitability and greater operational control.
• Beginning Q1-26, commission revenue and ceding-commission expense will disappear from Hagerty鈥檚 consolidated statements; policy acquisition costs will be capitalised and amortised.

Key contingencies: The LOI is non-binding and subject to definitive documentation, regulatory approvals and successful execution; completion is not guaranteed. Full risk retention will also increase Hagerty鈥檚 exposure to loss severity and volatility.

EastGroup Properties (EGP) Q2-25 10-Q highlights: Rental revenues rose 11.5% YoY to $177.3 m and six-month revenues climbed 12.3% to $351.7 m. Net income for the quarter increased 14.5% to $63.3 m ($1.20 diluted EPS), while year-to-date EPS of $2.35 was essentially flat because the prior-year period included an $8.8 m property-sale gain. Same-property NOI advanced 5.9% YTD. New and renewal leases achieved +45.8% cash rent spreads, reflecting strong industrial demand.

The operating portfolio was 97.1% leased and 96.0% occupied at 30-Jun; only 4.6% of annualised base rent expires in 2H-25. Operating cash flow increased 15.6% to $277.1 m and funded $207.9 m of development, improvements and land purchases. Unsecured borrowings fell to $1.46 bn after repayment of a $50 m loan and refinancing of a $100 m term loan at an effective 4.97% rate; Moody鈥檚 affirmed the Baa2 rating and lifted the outlook to positive.

Equity issuance provided $148 m YTD and a further $117 m post-quarter, supporting an 18-project (3.7 m sq ft) development pipeline that is 16% pre-leased and budgeted at $531 m. Quarterly dividends of $1.40/sh were declared. Comprehensive income was trimmed by an $11.1 m unrealised loss on interest-rate swaps. Subsequent events include the $61.4 m purchase of two Raleigh distribution buildings (318 k sq ft) and an $8.5 m Orlando land acquisition (37 acres).

Hagerty, Inc. (HGTY) filed a Form 144 indicating that Robert I. Kauffman, through Aldel LLC, plans to sell 31,869 common shares (鈮� $324.7 k) on or around 22 Jul 2025 via Merrill Lynch on the NYSE. The shares represent roughly 0.04 % of the company鈥檚 90.7 m shares outstanding.

The seller originally acquired 3.5 m shares on 2 Dec 2021 as part of the PIPE financing that accompanied Hagerty鈥檚 SPAC business combination. Over the past three months, the same account has already disposed of about 704,944 shares for an aggregate 鈮� $7.0 m in gross proceeds, demonstrating an ongoing divestiture trend.

No new operational or financial results are included; the filing is solely a notice of intended insider sales. Continued sizable insider selling鈥攐ver 0.8 % of shares outstanding in the last quarter鈥攎ay raise sentiment and liquidity questions for investors.

Form 4 highlights: Hagerty, Inc. (HGTY) director Robert I. Kauffman disclosed three open-market sales executed through Aldel LLC under a pre-arranged Rule 10b5-1 plan.

• Dates & volumes: 17 Jul 2025 鈥� 17,762 shares; 18 Jul 鈥� 36,174 shares; 21 Jul 鈥� 16,897 shares; total 70,833 shares.
• Prices: weighted-average sale prices reported were $10.04, $10.12 and $10.12, based on intraday ranges of $9.99鈥�$10.19.
• Post-sale stake: 3,388,252 Class A shares held indirectly via Aldel LLC plus 67,302 shares held directly, leaving Kauffman with roughly 3.46 million shares; the sale represents about 2% of his reported holdings.

No derivative transactions were reported and no changes were made to option or warrant positions. The filing signals modest, planned diversification by an insider rather than a strategic shift in ownership.

Hagerty, Inc. (HGTY) 鈥� Form 144 filing discloses that Robert I. Kauffman, through Aldel LLC, plans to sell 16,897 common shares via Merrill Lynch around 21 Jul 2025. Based on the reported price of $10.12, the transaction鈥檚 aggregate market value is $170,998. Hagerty has 90.7 million shares outstanding, so the notice covers only 0.019 % of the float and is non-dilutive because it involves already-issued shares.

Recent insider activity:

• Over the last three months (24 Apr 鈥� 18 Jul 2025), the same insider sold approximately 688,047 shares across 55 trades.
• Total gross proceeds from these sales equal roughly $6.8 million, implying an average price near $10 per share.
• Cumulative disposals represent about 0.76 % of outstanding shares, indicating a steady but not controlling reduction in ownership.

The new Form 144 continues this pattern of incremental selling and may signal ongoing liquidity-driven divestment rather than corporate-level action. While the volume is modest relative to float, persistent insider selling can weigh on sentiment and create an overhang for the stock.