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[Form 4] Hagerty, Inc. Insider Trading Activity

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

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.

Punti salienti del Modulo 4: Robert I. Kauffman, direttore di Hagerty, Inc. (HGTY), ha comunicato tre vendite sul mercato aperto eseguite tramite Aldel LLC secondo un piano predefinito conforme alla Regola 10b5-1.

  • Date e volumi: 17 luglio 2025 鈥� 17.762 azioni; 18 luglio 鈥� 36.174 azioni; 21 luglio 鈥� 16.897 azioni; per un totale di 70.833 azioni.
  • Prezzi: i prezzi medi ponderati di vendita sono stati 10,04$, 10,12$ e 10,12$, basati su un intervallo intraday da 9,99$ a 10,19$.
  • Quota dopo la vendita: 3.388.252 azioni di Classe A detenute indirettamente tramite Aldel LLC pi霉 67.302 azioni detenute direttamente, per un totale di circa 3,46 milioni di azioni; la vendita rappresenta circa il 2% delle sue partecipazioni dichiarate.

Non sono state riportate transazioni su derivati n茅 modifiche a posizioni in opzioni o warrant. La comunicazione indica una diversificazione modesta e pianificata da parte di un insider, piuttosto che un cambiamento strategico nella propriet脿.

Aspectos destacados del Formulario 4: Robert I. Kauffman, director de Hagerty, Inc. (HGTY), revel贸 tres ventas en el mercado abierto realizadas a trav茅s de Aldel LLC bajo un plan preestablecido conforme a la Regla 10b5-1.

  • Fechas y vol煤menes: 17 de julio de 2025 鈥� 17,762 acciones; 18 de julio 鈥� 36,174 acciones; 21 de julio 鈥� 16,897 acciones; totalizando 70,833 acciones.
  • Precios: los precios promedio ponderados de venta fueron $10.04, $10.12 y $10.12, basados en rangos intrad铆a de $9.99 a $10.19.
  • Participaci贸n despu茅s de la venta: 3,388,252 acciones Clase A mantenidas indirectamente a trav茅s de Aldel LLC m谩s 67,302 acciones mantenidas directamente, sumando aproximadamente 3.46 millones de acciones; la venta representa cerca del 2% de sus participaciones reportadas.

No se reportaron transacciones de derivados ni cambios en posiciones de opciones o warrants. La presentaci贸n indica una diversificaci贸n modesta y planificada por parte de un insider, m谩s que un cambio estrat茅gico en la propiedad.

Form 4 欤检殧 雮挫毄: Hagerty, Inc.(HGTY) 鞚挫偓 Robert I. Kauffman鞚� 靷爠 頃╈潣霅� Rule 10b5-1 瓿勴殟鞐� 霐半澕 Aldel LLC毳� 韱淀暣 靹� 彀鞚� 鞛ル偞 毵る弰 瓯半灅毳� 瓿奠嫓頄堨姷雼堧嫟.

  • 雮犾 氚� 瓯半灅霟�: 2025雲� 7鞗� 17鞚� 鈥� 17,762欤�; 7鞗� 18鞚� 鈥� 36,174欤�; 7鞗� 21鞚� 鈥� 16,897欤�; 齑� 70,833欤�.
  • 臧赌瓴�: 臧�欷� 韽夑窢 毵る弰 臧�瓴╈潃 臧侁皝 $10.04, $10.12, $10.12鞚措┌, 雼轨澕 瓯半灅 氩旍渼電� $9.99~$10.19鞓�鞀惦媹雼�.
  • 毵る弰 頉� 歆�攵�: Aldel LLC毳� 韱淀暅 臧勳爲 氤挫湢 3,388,252欤� 韥措灅鞀� A 欤检嫕瓿� 歆侅爲 氤挫湢 67,302欤茧ゼ 頃╈硱 鞎� 346毵� 欤茧ゼ 氤挫湢 欷戩澊氅�, 鞚措矆 毵る弰電� 氤搓碃霅� 氤挫湢霟夓潣 鞎� 2%鞐� 頃措嫻頃╇媹雼�.

韺岇儩靸來拡 瓯半灅雮� 鞓奠厴 氚� 鞗岆煱韸� 韽靺� 氤�瓴届潃 鞐嗢棃鞀惦媹雼�. 鞚措矆 瓿奠嫓電� 雮措秬鞛愳潣 瓿勴殟霅� 靻岉彮 雼り皝頇旊, 靻岇湢甓岇潣 鞝勲灥鞝� 氤�頇旊姅 鞎勲嫎鞚� 雮橅儉雰呺媹雼�.

Points cl茅s du Formulaire 4 : Robert I. Kauffman, administrateur de Hagerty, Inc. (HGTY), a r茅v茅l茅 trois ventes sur le march茅 libre effectu茅es via Aldel LLC dans le cadre d'un plan pr茅茅tabli conforme 脿 la r猫gle 10b5-1.

  • Dates et volumes : 17 juillet 2025 鈥� 17 762 actions ; 18 juillet 鈥� 36 174 actions ; 21 juillet 鈥� 16 897 actions ; total de 70 833 actions.
  • Prix : les prix de vente moyens pond茅r茅s 茅taient de 10,04 $, 10,12 $ et 10,12 $, bas茅s sur des fourchettes intrajournali猫res de 9,99 $ 脿 10,19 $.
  • Participation apr猫s vente : 3 388 252 actions de Classe A d茅tenues indirectement via Aldel LLC plus 67 302 actions d茅tenues directement, laissant Kauffman avec environ 3,46 millions d鈥檃ctions ; la vente repr茅sente environ 2 % de ses avoirs d茅clar茅s.

Aucune transaction sur d茅riv茅s n鈥檃 茅t茅 signal茅e et aucun changement n鈥檃 茅t茅 apport茅 aux positions d鈥檕ptions ou de bons de souscription. Ce d茅p么t indique une diversification mod茅r茅e et planifi茅e par un initi茅 plut么t qu鈥檜n changement strat茅gique de propri茅t茅.

Formular 4 Highlights: Robert I. Kauffman, Direktor von Hagerty, Inc. (HGTY), meldete drei Verk盲ufe am offenen Markt, die 眉ber Aldel LLC im Rahmen eines vorab vereinbarten Rule 10b5-1 Plans ausgef眉hrt wurden.

  • Daten & Volumen: 17. Juli 2025 鈥� 17.762 Aktien; 18. Juli 鈥� 36.174 Aktien; 21. Juli 鈥� 16.897 Aktien; insgesamt 70.833 Aktien.
  • Preise: Die gewichteten Durchschnittsverkaufspreise lagen bei 10,04 $, 10,12 $ und 10,12 $, basierend auf Intraday-Spannen von 9,99 $ bis 10,19 $.
  • Anteil nach Verkauf: 3.388.252 Class A Aktien, die indirekt 眉ber Aldel LLC gehalten werden, plus 67.302 direkt gehaltene Aktien, was Kauffman insgesamt etwa 3,46 Millionen Aktien bel盲sst; der Verkauf entspricht etwa 2 % seines gemeldeten Bestands.

Es wurden keine Derivatgesch盲fte gemeldet und keine 脛nderungen bei Optionen oder Warrants vorgenommen. Die Meldung signalisiert eine moderate, geplante Diversifikation durch einen Insider und keinen strategischen Eigent眉merwechsel.

Positive
  • Compliance with Rule 10b5-1: sales executed under a pre-arranged trading plan, reducing concerns about opportunistic insider selling.
  • Director retains a large stake: post-transaction ownership exceeds 3.4 million shares, signaling continued alignment with shareholders.
Negative
  • Insider selling activity: any sale by a director can be perceived as a modest bearish signal, even if small and planned.

Insights

TL;DR Small 10b5-1 insider sale (~70k shares) is routine, leaves >3.4 m shares; limited market impact.

Context: The disclosure covers sales worth roughly US$0.7 m at around $10/share. Kauffman remains a major holder, retaining >3 % of Hagerty鈥檚 ~97 m Class A shares outstanding.
Implications: 鈥� Size is immaterial relative to daily volume and his personal stake, suggesting liquidity management rather than bearish outlook.
鈥� Use of a 10b5-1 plan limits information-content because trades were scheduled in advance.
鈥� No derivative activity or new grants were recorded, indicating no change in equity-based incentives.
Overall: Neutral for valuation; investors typically discount such modest, pre-planned insider sales.

Punti salienti del Modulo 4: Robert I. Kauffman, direttore di Hagerty, Inc. (HGTY), ha comunicato tre vendite sul mercato aperto eseguite tramite Aldel LLC secondo un piano predefinito conforme alla Regola 10b5-1.

  • Date e volumi: 17 luglio 2025 鈥� 17.762 azioni; 18 luglio 鈥� 36.174 azioni; 21 luglio 鈥� 16.897 azioni; per un totale di 70.833 azioni.
  • Prezzi: i prezzi medi ponderati di vendita sono stati 10,04$, 10,12$ e 10,12$, basati su un intervallo intraday da 9,99$ a 10,19$.
  • Quota dopo la vendita: 3.388.252 azioni di Classe A detenute indirettamente tramite Aldel LLC pi霉 67.302 azioni detenute direttamente, per un totale di circa 3,46 milioni di azioni; la vendita rappresenta circa il 2% delle sue partecipazioni dichiarate.

Non sono state riportate transazioni su derivati n茅 modifiche a posizioni in opzioni o warrant. La comunicazione indica una diversificazione modesta e pianificata da parte di un insider, piuttosto che un cambiamento strategico nella propriet脿.

Aspectos destacados del Formulario 4: Robert I. Kauffman, director de Hagerty, Inc. (HGTY), revel贸 tres ventas en el mercado abierto realizadas a trav茅s de Aldel LLC bajo un plan preestablecido conforme a la Regla 10b5-1.

  • Fechas y vol煤menes: 17 de julio de 2025 鈥� 17,762 acciones; 18 de julio 鈥� 36,174 acciones; 21 de julio 鈥� 16,897 acciones; totalizando 70,833 acciones.
  • Precios: los precios promedio ponderados de venta fueron $10.04, $10.12 y $10.12, basados en rangos intrad铆a de $9.99 a $10.19.
  • Participaci贸n despu茅s de la venta: 3,388,252 acciones Clase A mantenidas indirectamente a trav茅s de Aldel LLC m谩s 67,302 acciones mantenidas directamente, sumando aproximadamente 3.46 millones de acciones; la venta representa cerca del 2% de sus participaciones reportadas.

No se reportaron transacciones de derivados ni cambios en posiciones de opciones o warrants. La presentaci贸n indica una diversificaci贸n modesta y planificada por parte de un insider, m谩s que un cambio estrat茅gico en la propiedad.

Form 4 欤检殧 雮挫毄: Hagerty, Inc.(HGTY) 鞚挫偓 Robert I. Kauffman鞚� 靷爠 頃╈潣霅� Rule 10b5-1 瓿勴殟鞐� 霐半澕 Aldel LLC毳� 韱淀暣 靹� 彀鞚� 鞛ル偞 毵る弰 瓯半灅毳� 瓿奠嫓頄堨姷雼堧嫟.

  • 雮犾 氚� 瓯半灅霟�: 2025雲� 7鞗� 17鞚� 鈥� 17,762欤�; 7鞗� 18鞚� 鈥� 36,174欤�; 7鞗� 21鞚� 鈥� 16,897欤�; 齑� 70,833欤�.
  • 臧赌瓴�: 臧�欷� 韽夑窢 毵る弰 臧�瓴╈潃 臧侁皝 $10.04, $10.12, $10.12鞚措┌, 雼轨澕 瓯半灅 氩旍渼電� $9.99~$10.19鞓�鞀惦媹雼�.
  • 毵る弰 頉� 歆�攵�: Aldel LLC毳� 韱淀暅 臧勳爲 氤挫湢 3,388,252欤� 韥措灅鞀� A 欤检嫕瓿� 歆侅爲 氤挫湢 67,302欤茧ゼ 頃╈硱 鞎� 346毵� 欤茧ゼ 氤挫湢 欷戩澊氅�, 鞚措矆 毵る弰電� 氤搓碃霅� 氤挫湢霟夓潣 鞎� 2%鞐� 頃措嫻頃╇媹雼�.

韺岇儩靸來拡 瓯半灅雮� 鞓奠厴 氚� 鞗岆煱韸� 韽靺� 氤�瓴届潃 鞐嗢棃鞀惦媹雼�. 鞚措矆 瓿奠嫓電� 雮措秬鞛愳潣 瓿勴殟霅� 靻岉彮 雼り皝頇旊, 靻岇湢甓岇潣 鞝勲灥鞝� 氤�頇旊姅 鞎勲嫎鞚� 雮橅儉雰呺媹雼�.

Points cl茅s du Formulaire 4 : Robert I. Kauffman, administrateur de Hagerty, Inc. (HGTY), a r茅v茅l茅 trois ventes sur le march茅 libre effectu茅es via Aldel LLC dans le cadre d'un plan pr茅茅tabli conforme 脿 la r猫gle 10b5-1.

  • Dates et volumes : 17 juillet 2025 鈥� 17 762 actions ; 18 juillet 鈥� 36 174 actions ; 21 juillet 鈥� 16 897 actions ; total de 70 833 actions.
  • Prix : les prix de vente moyens pond茅r茅s 茅taient de 10,04 $, 10,12 $ et 10,12 $, bas茅s sur des fourchettes intrajournali猫res de 9,99 $ 脿 10,19 $.
  • Participation apr猫s vente : 3 388 252 actions de Classe A d茅tenues indirectement via Aldel LLC plus 67 302 actions d茅tenues directement, laissant Kauffman avec environ 3,46 millions d鈥檃ctions ; la vente repr茅sente environ 2 % de ses avoirs d茅clar茅s.

Aucune transaction sur d茅riv茅s n鈥檃 茅t茅 signal茅e et aucun changement n鈥檃 茅t茅 apport茅 aux positions d鈥檕ptions ou de bons de souscription. Ce d茅p么t indique une diversification mod茅r茅e et planifi茅e par un initi茅 plut么t qu鈥檜n changement strat茅gique de propri茅t茅.

Formular 4 Highlights: Robert I. Kauffman, Direktor von Hagerty, Inc. (HGTY), meldete drei Verk盲ufe am offenen Markt, die 眉ber Aldel LLC im Rahmen eines vorab vereinbarten Rule 10b5-1 Plans ausgef眉hrt wurden.

  • Daten & Volumen: 17. Juli 2025 鈥� 17.762 Aktien; 18. Juli 鈥� 36.174 Aktien; 21. Juli 鈥� 16.897 Aktien; insgesamt 70.833 Aktien.
  • Preise: Die gewichteten Durchschnittsverkaufspreise lagen bei 10,04 $, 10,12 $ und 10,12 $, basierend auf Intraday-Spannen von 9,99 $ bis 10,19 $.
  • Anteil nach Verkauf: 3.388.252 Class A Aktien, die indirekt 眉ber Aldel LLC gehalten werden, plus 67.302 direkt gehaltene Aktien, was Kauffman insgesamt etwa 3,46 Millionen Aktien bel盲sst; der Verkauf entspricht etwa 2 % seines gemeldeten Bestands.

Es wurden keine Derivatgesch盲fte gemeldet und keine 脛nderungen bei Optionen oder Warrants vorgenommen. Die Meldung signalisiert eine moderate, geplante Diversifikation durch einen Insider und keinen strategischen Eigent眉merwechsel.

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).
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)
07/17/2025
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 07/17/2025 S(1) 17,762 D $10.04(2) 3,441,323 I(3) By Aldel LLC
Class A Common Stock 07/18/2025 S(1) 36,174 D $10.12(4) 3,405,149 I(3) By Aldel LLC
Class A Common Stock 07/21/2025 S(1) 16,897 D $10.12(5) 3,388,252 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 $9.99 to $10.09. 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.
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 $10.04 to $10.17. 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 $10.02 to $10.19. 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 07/21/2025
** 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:

FAQ

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

He sold 70,833 Class A shares across three transactions on 17-21 July 2025.

What prices were the HGTY shares sold at?

Weighted-average prices reported were $10.04, $10.12, and $10.12, with intraday ranges between $9.99 and $10.19.

Does Kauffman still hold Hagerty stock after the sale?

Yes. He still owns 3,388,252 shares indirectly via Aldel LLC and 67,302 shares directly.

Was the insider sale part of a planned trading program?

Yes, the filing states the transactions were executed under a Rule 10b5-1 plan adopted 9 Aug 2024.

Were any derivative securities exercised or disposed of?

No derivative transactions were reported in this Form 4.
Stock HGTY logo
HAGERTY INC

NYSE:HGTY

HGTY Rankings

#2295 Ranked by Market Cap
N/A Ranked by Dividends

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HGTY Stock Data

907.16M
84.14M
9.06%
83.86%
0.29%
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United States
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