AG˹ٷ

STOCK TITAN

[Form 4] Hagerty, Inc. Insider Trading Activity

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

Robert I. Kauffman, a director of Hagerty, Inc. (HGTY), reported multiple sales of Class A common stock executed under a Rule 10b5-1 trading plan. The filings show sales on 08/21/2025 (7,356 shares at a weighted average price of $10.77), 08/22/2025 (6,081 shares at $10.92 weighted average) and 08/25/2025 (7,668 shares at $10.87 weighted average). After these transactions the reported beneficial ownership held by Aldel LLC, for which Mr. Kauffman is manager, declined from 1,496,056 shares to 1,482,307 shares, a net reduction of 13,749 shares over the reported dates. The report notes the sales were made pursuant to a 10b5-1 plan adopted August 9, 2024, and that the securities are held of record by Aldel LLC with Mr. Kauffman disclosing voting and investment discretion while disclaiming beneficial ownership except for his pecuniary interest.

Robert I. Kauffman, amministratore di Hagerty, Inc. (HGTY), ha segnalato più vendite di azioni ordinarie di Classe A effettuate nell'ambito di un piano di negoziazione ai sensi della Regola 10b5-1. Le comunicazioni indicano vendite il 21/08/2025 (7.356 azioni a prezzo medio ponderato di $10,77), il 22/08/2025 (6.081 azioni a prezzo medio ponderato di $10,92) e il 25/08/2025 (7.668 azioni a prezzo medio ponderato di $10,87). Dopo tali operazioni, la partecipazione patrimoniale riportata di Aldel LLC, di cui il sig. Kauffman è amministratore, è scesa da 1.496.056 azioni a 1.482.307 azioni, con una riduzione netta di 13.749 azioni nelle date indicate. Il rapporto precisa che le vendite sono avvenute in base a un piano 10b5-1 adottato il 9 agosto 2024 e che i titoli sono detenuti per registro da Aldel LLC, con il sig. Kauffman che dichiara discrezionalità di voto e d'investimento pur rinunciando alla titolarità beneficiaria, fatta eccezione per il suo interesse pecuniario.

Robert I. Kauffman, director de Hagerty, Inc. (HGTY), informó varias ventas de acciones ordinarias Clase A realizadas bajo un plan de comercio conforme a la Regla 10b5-1. Los registros muestran ventas el 21/08/2025 (7.356 acciones a un precio medio ponderado de $10,77), el 22/08/2025 (6.081 acciones a $10,92 de promedio ponderado) y el 25/08/2025 (7.668 acciones a $10,87 de promedio ponderado). Tras estas operaciones, la propiedad beneficiaria informada por Aldel LLC, de la cual el Sr. Kauffman es administrador, disminuyó de 1.496.056 acciones a 1.482.307 acciones, una reducción neta de 13.749 acciones en las fechas indicadas. El informe señala que las ventas se efectuaron de conformidad con un plan 10b5-1 adoptado el 9 de agosto de 2024 y que los valores figuran a nombre de Aldel LLC, con el Sr. Kauffman declarando discrecionalidad de voto e inversión, renunciando a la titularidad beneficiaria salvo por su interés pecuniario.

헤거�(Hagerty, Inc., HGTY) 이사� 로버� I. 카우프먼(Robert I. Kauffman)� 규칙 10b5-1� 따른 거래 계획� 따라 여러 차례 클래� A 보통주를 매도했다� 보고했습니다. 제출 서류� 따르� 2025-08-21� 7,356주를 가중평균가 $10.77�, 2025-08-22� 6,081주를 가중평균가 $10.92�, 2025-08-25� 7,668주를 가중평균가 $10.87� 매도� 것으� 나타났습니다. � 거래� 이후 카우프먼 씨가 매니저� 있는 Aldel LLC� 보고� 실질 소유 지분은 1,496,056주에� 1,482,307주로 감소하여 보고� 기간 동안 순감소분은 13,749주였습니�. 보고서는 해당 매도가 2024� 8� 9� 채택� 10b5-1 계획� 따라 이루어졌으며, 증권은 명목� Aldel LLC 명의� 보유되어 있고 카우프먼 씨는 의결� � 투자� 대� 재량권을 신고했으� 금전� 이익� 제외� 실질� 소유권은 부인한다고 명시하고 있습니다.

Robert I. Kauffman, administrateur de Hagerty, Inc. (HGTY), a déclaré plusieurs ventes d'actions ordinaires de classe A exécutées dans le cadre d'un plan de négociation selon la règle 10b5-1. Les dépôts indiquent des ventes le 21/08/2025 (7 356 actions au prix moyen pondéré de 10,77 $), le 22/08/2025 (6 081 actions au prix moyen pondéré de 10,92 $) et le 25/08/2025 (7 668 actions au prix moyen pondéré de 10,87 $). Après ces opérations, la participation bénéficiaire déclarée d'Aldel LLC, dont M. Kauffman est le gérant, est passée de 1 496 056 actions à 1 482 307 actions, soit une réduction nette de 13 749 actions sur les dates rapportées. Le rapport précise que les ventes ont été effectuées en vertu d'un plan 10b5-1 adopté le 9 août 2024 et que les titres sont inscrits au registre au nom d'Aldel LLC, M. Kauffman déclarant disposer de la discrétion de vote et d'investissement tout en déclinant la qualité de propriétaire bénéficiaire, à l'exception de son intérêt pécuniaire.

Robert I. Kauffman, Direktor von Hagerty, Inc. (HGTY), meldete mehrere Verkäufe von Stammaktien Klasse A, die im Rahmen eines Handelsplans nach Regel 10b5-1 ausgeführt wurden. Die Einreichungen zeigen Verkäufe am 21.08.2025 (7.356 Aktien zu einem gewichteten Durchschnittspreis von $10,77), am 22.08.2025 (6.081 Aktien zu $10,92 gewichteter Durchschnitt) und am 25.08.2025 (7.668 Aktien zu $10,87 gewichteter Durchschnitt). Nach diesen Transaktionen verringerte sich das gemeldete wirtschaftliche Eigentum von Aldel LLC, deren Manager Herr Kauffman ist, von 1.496.056 Aktien auf 1.482.307 Aktien, eine Nettoabnahme von 13.749 Aktien über die angegebenen Daten. Der Bericht weist darauf hin, dass die Verkäufe gemäß einem am 9. August 2024 angenommenen 10b5-1-Plan erfolgten und dass die Wertpapiere namentlich von Aldel LLC gehalten werden, wobei Herr Kauffman Stimm- und Investitionsdispositionen angibt, aber das wirtschaftliche Eigentum mit Ausnahme seines pecuniären Interesses bestreitet.

Positive
  • Transactions executed under a Rule 10b5-1 trading plan, which provides an affirmative defense and indicates pre-planned dispositions.
  • Substantial remaining stake: Aldel LLC still reports ownership of 1,482,307 Class A shares after the sales.
Negative
  • Insider dispositions totaling 21,105 Class A shares across 08/21/2025�08/25/2025, reducing reported holdings by 13,749 shares from 1,496,056 to 1,482,307.
  • Sales executed at prices between approximately $10.67 and $11.02 (weighted averages reported $10.77, $10.92 and $10.87), representing realized insider liquidity.

Insights

TL;DR: Director executed pre-planned sales under a 10b5-1 plan, modestly reducing holdings while retaining substantial position.

The disclosures are consistent with routine, pre-authorized insider sales rather than opportunistic timing: a 10b5-1 plan adopted on August 9, 2024 is cited as the basis for the transactions. The director acts as manager of Aldel LLC, the record holder, and retains voting and investment discretion, which is material to control considerations. The reported net decline of 13,749 Class A shares reduces the recorded Aldel LLC position from 1,496,056 to 1,482,307 shares but leaves a substantial stake intact. This filing does not indicate derivative activity, grants, or other atypical compensation-related transfers; it focuses on ordinary-course dispositions executed in multiple trades at disclosed weighted average prices.

TL;DR: Sales total 21,105 shares across three dates at ~ $10.77�$10.92 weighted prices; impact on float minimal given large remaining stake.

The report documents three specific sell transactions: 7,356 shares (08/21/2025), 6,081 shares (08/22/2025) and 7,668 shares (08/25/2025) executed in multiple trades with reported weighted-average prices. The filings include ranges of execution prices and offer to provide trade-level details upon request. No purchases, options exercises, or derivative transactions are reported. For investors assessing insider activity, these are authorized plan sales rather than discretionary, contemporaneous insider trades.

Robert I. Kauffman, amministratore di Hagerty, Inc. (HGTY), ha segnalato più vendite di azioni ordinarie di Classe A effettuate nell'ambito di un piano di negoziazione ai sensi della Regola 10b5-1. Le comunicazioni indicano vendite il 21/08/2025 (7.356 azioni a prezzo medio ponderato di $10,77), il 22/08/2025 (6.081 azioni a prezzo medio ponderato di $10,92) e il 25/08/2025 (7.668 azioni a prezzo medio ponderato di $10,87). Dopo tali operazioni, la partecipazione patrimoniale riportata di Aldel LLC, di cui il sig. Kauffman è amministratore, è scesa da 1.496.056 azioni a 1.482.307 azioni, con una riduzione netta di 13.749 azioni nelle date indicate. Il rapporto precisa che le vendite sono avvenute in base a un piano 10b5-1 adottato il 9 agosto 2024 e che i titoli sono detenuti per registro da Aldel LLC, con il sig. Kauffman che dichiara discrezionalità di voto e d'investimento pur rinunciando alla titolarità beneficiaria, fatta eccezione per il suo interesse pecuniario.

Robert I. Kauffman, director de Hagerty, Inc. (HGTY), informó varias ventas de acciones ordinarias Clase A realizadas bajo un plan de comercio conforme a la Regla 10b5-1. Los registros muestran ventas el 21/08/2025 (7.356 acciones a un precio medio ponderado de $10,77), el 22/08/2025 (6.081 acciones a $10,92 de promedio ponderado) y el 25/08/2025 (7.668 acciones a $10,87 de promedio ponderado). Tras estas operaciones, la propiedad beneficiaria informada por Aldel LLC, de la cual el Sr. Kauffman es administrador, disminuyó de 1.496.056 acciones a 1.482.307 acciones, una reducción neta de 13.749 acciones en las fechas indicadas. El informe señala que las ventas se efectuaron de conformidad con un plan 10b5-1 adoptado el 9 de agosto de 2024 y que los valores figuran a nombre de Aldel LLC, con el Sr. Kauffman declarando discrecionalidad de voto e inversión, renunciando a la titularidad beneficiaria salvo por su interés pecuniario.

헤거�(Hagerty, Inc., HGTY) 이사� 로버� I. 카우프먼(Robert I. Kauffman)� 규칙 10b5-1� 따른 거래 계획� 따라 여러 차례 클래� A 보통주를 매도했다� 보고했습니다. 제출 서류� 따르� 2025-08-21� 7,356주를 가중평균가 $10.77�, 2025-08-22� 6,081주를 가중평균가 $10.92�, 2025-08-25� 7,668주를 가중평균가 $10.87� 매도� 것으� 나타났습니다. � 거래� 이후 카우프먼 씨가 매니저� 있는 Aldel LLC� 보고� 실질 소유 지분은 1,496,056주에� 1,482,307주로 감소하여 보고� 기간 동안 순감소분은 13,749주였습니�. 보고서는 해당 매도가 2024� 8� 9� 채택� 10b5-1 계획� 따라 이루어졌으며, 증권은 명목� Aldel LLC 명의� 보유되어 있고 카우프먼 씨는 의결� � 투자� 대� 재량권을 신고했으� 금전� 이익� 제외� 실질� 소유권은 부인한다고 명시하고 있습니다.

Robert I. Kauffman, administrateur de Hagerty, Inc. (HGTY), a déclaré plusieurs ventes d'actions ordinaires de classe A exécutées dans le cadre d'un plan de négociation selon la règle 10b5-1. Les dépôts indiquent des ventes le 21/08/2025 (7 356 actions au prix moyen pondéré de 10,77 $), le 22/08/2025 (6 081 actions au prix moyen pondéré de 10,92 $) et le 25/08/2025 (7 668 actions au prix moyen pondéré de 10,87 $). Après ces opérations, la participation bénéficiaire déclarée d'Aldel LLC, dont M. Kauffman est le gérant, est passée de 1 496 056 actions à 1 482 307 actions, soit une réduction nette de 13 749 actions sur les dates rapportées. Le rapport précise que les ventes ont été effectuées en vertu d'un plan 10b5-1 adopté le 9 août 2024 et que les titres sont inscrits au registre au nom d'Aldel LLC, M. Kauffman déclarant disposer de la discrétion de vote et d'investissement tout en déclinant la qualité de propriétaire bénéficiaire, à l'exception de son intérêt pécuniaire.

Robert I. Kauffman, Direktor von Hagerty, Inc. (HGTY), meldete mehrere Verkäufe von Stammaktien Klasse A, die im Rahmen eines Handelsplans nach Regel 10b5-1 ausgeführt wurden. Die Einreichungen zeigen Verkäufe am 21.08.2025 (7.356 Aktien zu einem gewichteten Durchschnittspreis von $10,77), am 22.08.2025 (6.081 Aktien zu $10,92 gewichteter Durchschnitt) und am 25.08.2025 (7.668 Aktien zu $10,87 gewichteter Durchschnitt). Nach diesen Transaktionen verringerte sich das gemeldete wirtschaftliche Eigentum von Aldel LLC, deren Manager Herr Kauffman ist, von 1.496.056 Aktien auf 1.482.307 Aktien, eine Nettoabnahme von 13.749 Aktien über die angegebenen Daten. Der Bericht weist darauf hin, dass die Verkäufe gemäß einem am 9. August 2024 angenommenen 10b5-1-Plan erfolgten und dass die Wertpapiere namentlich von Aldel LLC gehalten werden, wobei Herr Kauffman Stimm- und Investitionsdispositionen angibt, aber das wirtschaftliche Eigentum mit Ausnahme seines pecuniären Interesses bestreitet.

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)
08/21/2025
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 08/21/2025 S(1) 7,356 D $10.77(2) 1,496,056 I(3) By Aldel LLC
Class A Common Stock 08/22/2025 S(1) 6,081 D $10.92(4) 1,489,975 I(3) By Aldel LLC
Class A Common Stock 08/25/2025 S(1) 7,668 D $10.87(5) 1,482,307 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 $10.67 to $10.91. 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 $10.71 to $11.02. 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 $10.79 to $11.01. 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 08/25/2025
** 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.

FAQ

What transactions did Hagerty (HGTY) director Robert Kauffman report on Form 4?

The Form 4 reports sales of Class A common stock on 08/21/2025 (7,356 shares), 08/22/2025 (6,081 shares), and 08/25/2025 (7,668 shares) executed under a 10b5-1 plan.

Were the sales by Robert Kauffman part of a pre-authorized plan?

Yes. The filing states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted August 9, 2024.

How much did Aldel LLC’s reported holdings change after the transactions?

The reported beneficial ownership held by Aldel LLC decreased from 1,496,056 shares to 1,482,307 shares, a net reduction of 13,749 shares.

At what prices were the shares sold?

The filing reports weighted average prices for the transactions: $10.77 (08/21/2025), $10.92 (08/22/2025), and $10.87 (08/25/2025); execution price ranges are also disclosed in the footnotes.

Does Robert Kauffman claim beneficial ownership of the shares held by Aldel LLC?

The filing states Mr. Kauffman is manager of Aldel LLC with voting and investment discretion but disclaims beneficial ownership of the securities except to the extent of his pecuniary interest.
HAGERTY INC

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