Laurie Harris - Jun 22, 2023 Form 4 Insider Report for Hagerty, Inc. (HGTY)

Role: Director
Signature: /s/ Barbara Matthews, Attorney in Fact
Stock symbol: HGTY
Transactions as of: Jun 22, 2023
Transactions value $: -$36,621
Form type: 4
Date filed: 6/23/2023, 04:01 PM
Previous filing: Apr 5, 2023
Next filing: Nov 17, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HGTY	Class A Common Stock	Sale	-$36.6K	-3.9K	-20.92%	$9.39	14.7K	Jun 22, 2023	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id	Content
F1	The sale occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 22, 2023, and does not represent a discretionary transaction. The reported sale represents a "sell to cover" transaction and equals the number of shares required to be sold by the Reporting Person to satisfy tax withholding obligations in connection with the vesting of the Reporting Person's restricted stock units.
F2	This transaction was executed in multiple trades at prices ranging from $9.35 to $9.47. 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.

Content

The sale occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 22, 2023, and does not represent a discretionary transaction. The reported sale represents a "sell to cover" transaction and equals the number of shares required to be sold by the Reporting Person to satisfy tax withholding obligations in connection with the vesting of the Reporting Person's restricted stock units.

This transaction was executed in multiple trades at prices ranging from $9.35 to $9.47. 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.