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Filing Details

Accession Number:: 0001840776-24-000147
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2024-07-08 21:56:00
Reporting Period:: 2024-07-03

Accepted Time:: 2024-07-08 21:56:00
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1840776	Hagerty Inc.	HGTY	()	4

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1124462	I Robert Kauffman	105 S. Maple Street Itasca IL 60143		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Acquisiton	2024-07-03	427,776	$0.00	5,543,650	No	4	M	Indirect	By Aldel LLC
Class A Common Stock	Disposition	2024-07-03	4,548	$11.04	5,539,102	No	4	S	Indirect	By Aldel LLC
Class A Common Stock	Disposition	2024-07-05	4,404	$10.90	5,534,698	No	4	S	Indirect	By Aldel LLC
Class A Common Stock	Disposition	2024-07-08	6,202	$11.07	5,528,496	No	4	S	Indirect	By Aldel LLC

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	Indirect	By Aldel LLC
No	4	S	Indirect	By Aldel LLC
No	4	S	Indirect	By Aldel LLC
No	4	S	Indirect	By Aldel LLC

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Warrants	Disposition	2024-07-03	1,231,384	$0.00	1,231,384	$0.00
Class A Common Stock	Warrants	Disposition	2024-07-03	907,500	$0.00	907,500	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0			No	4	M	Indirect
0			No	4	M	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Class A Common Stock	53,474	Direct

Footnotes

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.
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.
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.
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.
The reported sale was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 11, 2023.
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.
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.
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.
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.