State Farm Mutual Automobile Insurance Co - Jun 23, 2023 Form 4 Insider Report for Hagerty, Inc. (HGTY)

Role
10%+ Owner
Signature
/s/ Jon C. Farney, Senior Vice President, Treasurer and Chief Financial Officer
Stock symbol
HGTY
Transactions as of
Jun 23, 2023
Transactions value $
$49,999,991
Form type
4
Date filed
6/23/2023, 05:02 PM
Previous filing
Oct 18, 2022
Next filing
Aug 14, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HGTY Series A Preferred Stock Purchase $50M +5.3M $9.43 5.3M Jun 23, 2023 Class A Common Stock 4.24M $11.79 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Series A Preferred Stock has no stated maturity and therefore has no expiration date.
F2 On June 23, 2023, the Reporting Person acquired 5,302,226 shares of Series A Preferred Stock convertible into 4,241,780 shares of Class A common stock, subject to customary anti-dilution adjustments, for total consideration of $49,999,991.18.