Ahn Kenneth 4

What Happened
Kenneth Ahn, President of Hagerty Marketplace, converted 50,000 released restricted units of The Hagerty Group, LLC into Class A common stock and sold 50,000 shares in the open market on January 26, 2026. The sale was executed at a weighted average price of $12.41 per share for gross proceeds of approximately $620,500. The conversion is reported as an acquisition (conversion of derivative securities) at $0 cost, followed by the sale.

Key Details

• Transaction date: January 26, 2026.
• Sale: 50,000 shares disposed via open-market sale at a weighted average price of $12.41 (range $12.30–$12.67) for ~$620,500 (F4).
• Conversion: 50,000 Released Units were converted into Class A common stock (reported as acquisition at $0) and a corresponding conversion entry disposing of the derivative (F1).
• Post-conversion holdings: Quadrifoglio Holdings LLC (Ahn is sole member) owns 775,213 Released Units after this conversion (F1, F2).
• Plan/authorization: The sale was executed under a Rule 10b5-1 trading plan adopted Sept 15, 2025 (F3).
• Beneficial ownership: Ahn is the sole member of Quadrifoglio Holdings LLC and disclaims beneficial ownership except for his pecuniary interest (F2).
• Filing: Form 4 filed Jan 27, 2026 reporting the Jan 26 transaction (no late-filing indication in the filing).

Context

• This was a conversion of previously restricted/limited units into common stock followed by an open-market sale — a common way for holders of restricted units to monetize shares as they vest or become releasable.
• The sale was conducted under a pre-established 10b5-1 plan, which typically schedules trades in advance and is intended to avoid allegations of trading on material nonpublic information.
• The filing is factual and does not provide any statement of intent or market view by the insider; purchases generally signal stronger insider conviction than routine conversions and sales.