0001840776-24-000147.txt : 20240708 0001840776-24-000147.hdr.sgml : 20240708 20240708215600 ACCESSION NUMBER: 0001840776-24-000147 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240703 FILED AS OF DATE: 20240708 DATE AS OF CHANGE: 20240708 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: KAUFFMAN ROBERT I CENTRAL INDEX KEY: 0001124462 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-40244 FILM NUMBER: 241106225 MAIL ADDRESS: STREET 1: C/O FIG LLC 1345 AVENUE OF THE AMERICAS CITY: NEW YORK, NY STATE: X1 ZIP: 10105 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Hagerty, Inc. CENTRAL INDEX KEY: 0001840776 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE AGENTS BROKERS & SERVICES [6411] ORGANIZATION NAME: 02 Finance IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 121 DRIVERS EDGE CITY: TRAVERSE CITY STATE: MI ZIP: 49684 BUSINESS PHONE: 800-922-4050 MAIL ADDRESS: STREET 1: 121 DRIVERS EDGE CITY: TRAVERSE CITY STATE: MI ZIP: 49684 FORMER COMPANY: FORMER CONFORMED NAME: Aldel Financial Inc. DATE OF NAME CHANGE: 20210115 4 1 wk-form4_1720490154.xml FORM 4 X0508 4 2024-07-03 0 0001840776 Hagerty, Inc. HGTY 0001124462 KAUFFMAN ROBERT I 105 S. MAPLE STREET ITASCA IL 60143 1 0 0 0 1 Class A Common Stock 2024-07-03 4 M 0 427776 A 5543650 I By Aldel LLC Class A Common Stock 2024-07-03 4 S 0 4548 11.04 D 5539102 I By Aldel LLC Class A Common Stock 2024-07-05 4 S 0 4404 10.90 D 5534698 I By Aldel LLC Class A Common Stock 2024-07-08 4 S 0 6202 11.07 D 5528496 I By Aldel LLC Class A Common Stock 53474 D Warrants 2024-07-03 4 M 0 1231384 D Class A Common Stock 1231384 0 I By Aldel LLC Warrants 2024-07-03 4 M 0 907500 D Class A Common Stock 907500 0 I By Aldel Capital LLC 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. /s/ Diana M. Chafey, Power of Attorney 2024-07-08