Robert I. Kauffman - 02 Dec 2021 Form 4 Insider Report for Hagerty, Inc. (HGTY)

Role
Director
Signature
/s/ Barbara E. Matthews, Power of Attorney
Issuer symbol
HGTY
Transactions as of
02 Dec 2021
Net transactions value
$0
Form type
4
Filing time
06 Dec 2021, 15:30:35 UTC
Previous filing
14 May 2021
Next filing
14 Feb 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HGTY Class A Common Stock Other $0 +2,000,000 $0.000000 2,000,000 02 Dec 2021 Held by Aldel LLC F1, F2
transaction HGTY Class A Common Stock Options Exercise $0 +2,225,000 $0.000000 2,225,000 02 Dec 2021 Direct F3, F4

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 Class B Common Stock Options Exercise $0 -2,225,000 -100% $0.000000* 0 02 Dec 2021 Class A Common Stock 2,225,000 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of 2,000,000 shares of Class A Common Stock purchased in a private placement from Aldel Financial Inc. (the "PIPE Financing") by Aldel LLC for $10.00 per share.
F2 Held by Aldel LLC. Mr. Kauffman is the managing member of Aldel LLC and has voting and investment power over the shares of Class A Common Stock held by Aldel LLC.
F3 As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of the Issuer were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.
F4 Includes 2,200,000 shares held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment power over the shares of Class A Common Stock held by Aldel Investors LLC.