Form 4 for HGTY Hagerty, Inc.
Accepted 2024-07-08 00:00:00 ET · period of report 2024-07-03 · accession 0001840776-24-000147 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DMI | 2024-07-08 | 2024-07-03+ | HGTY | KAUFFMAN ROBERT I | Dir | S - Sale+OE | $11.01 | -15.2K | 5.54M | -0.3% | -$166.9K |
| DI | 2024-07-08 | 2024-07-03 | HGTY | KAUFFMAN ROBERT I | Dir | M - OptEx | — | +427.8K | 5.54M | +8% | — |
| DMI | 2024-07-08 | 2024-07-03 | HGTY | KAUFFMAN ROBERT I | Dir | M - OptEx | — | -2.14M | 0 | -100% | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A Common Stock | 2024-07-08 | S | D | 6,202 | $11.07 | 5,528,496 | I By Aldel LLC | — | — | (F8) This transaction was executed in multiple trades at prices ranging from $10.94 to $11.14. 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. (F4) 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. |
| 2 | Common | Class A Common Stock | 2024-07-05 | S | D | 4,404 | $10.90 | 5,534,698 | I By Aldel LLC | — | — | (F7) This transaction was executed in multiple trades at prices ranging from $10.78 to $11.04. 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. (F4) 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. |
| 3 | Common | Class A Common Stock | 2024-07-03 | S | D | 4,548 | $11.04 | 5,539,102 | I By Aldel LLC | — | — | (F6) This transaction was executed in multiple trades at prices ranging from $10.95 to $11.10. 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. (F4) 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 | Common | Class A Common Stock | 2024-07-03 | M | A | 427,776 | — | 5,543,650 | I By Aldel LLC | — | — | (F2) On July 3, 2024, pursuant to the Issuer's previously announced exchange offer, (i) Aldel LLC exchanged 360,000 PIPE Warrants for 72,000 shares of Class A Common Stock, (ii) Aldel LLC exchanged 871,384 Public Warrants for 174,276 shares of Class A Common Stock, (iii) Aldel Capital LLC exchanged 257,500 Private Placement Warrants for 51,500 shares of Class A Common Stock, which settled in the name of Aldel LLC, and (iv) Aldel Capital LLC exchanged 650,000 OTM Warrants for 130,000 shares of Class A Common Stock, which settled in the name of Aldel LLC. The PIPE Warrants, Public Warrants and Private Placement Warrants each previously entitled the holder to purchase one share of Class A Common Stock at a price of $11.50 per share. The OTM Warrants previously entitled the holder to purchase one share of Class A Common Stock at a price of $15.00 per share. (F1) The disposition of the warrants and the acquisition of Class A common stock, par value $0.0001 per share, of the Issuer ("Class A Common Stock") by Aldel LLC and Aldel Capital LLC were approved by a committee comprised entirely of non-employee directors as defined in Rule 16b-3(b)(3) under the Securities Exchange Act of 1934, as amended. (F3) Includes 2,143,571 shares of Class A Common Stock held by Aldel LLC which originally converted from Class B common stock upon the closing of the initial business combination on December 2, 2021. (F4) 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. |
| 5 | Derivative | Warrants | 2024-07-03 | M | D | 907,500 | — | 0 | I By Aldel Capital LLC | — · — to — | 907,500 Class A Common Stock | (F2) On July 3, 2024, pursuant to the Issuer's previously announced exchange offer, (i) Aldel LLC exchanged 360,000 PIPE Warrants for 72,000 shares of Class A Common Stock, (ii) Aldel LLC exchanged 871,384 Public Warrants for 174,276 shares of Class A Common Stock, (iii) Aldel Capital LLC exchanged 257,500 Private Placement Warrants for 51,500 shares of Class A Common Stock, which settled in the name of Aldel LLC, and (iv) Aldel Capital LLC exchanged 650,000 OTM Warrants for 130,000 shares of Class A Common Stock, which settled in the name of Aldel LLC. The PIPE Warrants, Public Warrants and Private Placement Warrants each previously entitled the holder to purchase one share of Class A Common Stock at a price of $11.50 per share. The OTM Warrants previously entitled the holder to purchase one share of Class A Common Stock at a price of $15.00 per share. (F9) Held by Aldel Capital LLC. Aldel Capital LLC is wholly owned by Aldel LLC. The Reporting Person has voting and investment power over the shares of Class A Common Stock held by Aldel Capital LLC. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein. |
| 6 | Derivative | Warrants | 2024-07-03 | M | D | 1,231,384 | — | 0 | I By Aldel LLC | — · — to — | 1,231,384 Class A Common Stock | (F2) On July 3, 2024, pursuant to the Issuer's previously announced exchange offer, (i) Aldel LLC exchanged 360,000 PIPE Warrants for 72,000 shares of Class A Common Stock, (ii) Aldel LLC exchanged 871,384 Public Warrants for 174,276 shares of Class A Common Stock, (iii) Aldel Capital LLC exchanged 257,500 Private Placement Warrants for 51,500 shares of Class A Common Stock, which settled in the name of Aldel LLC, and (iv) Aldel Capital LLC exchanged 650,000 OTM Warrants for 130,000 shares of Class A Common Stock, which settled in the name of Aldel LLC. The PIPE Warrants, Public Warrants and Private Placement Warrants each previously entitled the holder to purchase one share of Class A Common Stock at a price of $11.50 per share. The OTM Warrants previously entitled the holder to purchase one share of Class A Common Stock at a price of $15.00 per share. (F4) 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. |