Hagerty McKeel 4
4 · Hagerty, Inc. · Filed Jun 27, 2023
Insider Transaction Report
Form 4
Hagerty, Inc.HGTY
Hagerty McKeel
DirectorChief Executive Officer
Transactions
- Award
Series A Convertible Preferred Stock
2023-06-23$9.43/sh+530,222$4,999,993→ 530,222 total(indirect: By Trust)Exercise: $11.79→ Class A Common Stock (530,222 underlying)
Footnotes (3)
- [F1]Reporting Person may convert the Series A Convertible Preferred Stock at any time, subject to the Issuer's option to require the Reporting Person to convert all or any of the Series A Convertible Preferred Stock, as summarized in footnote 2 of this Form 4.
- [F2]Issuer may require Reporting Person to convert all or any portion of Series A Preferred Stock where: (i) if, on or after the third anniversary of June 23, 2023 (the "Issue Date") and prior to the seventh anniversary of the Issue Date, the closing price of the Class A Common Stock exceeds 150% of the Conversion Price for at least twenty (20) trading days in any period of thirty (30) consecutive trading days; (ii) if, on or after the seventh anniversary of the Issue Date and prior to the tenth anniversary of the Issue Date, the closing price of the Class A Common Stock exceeds 100% of the Conversion Price for at least twenty (20) trading days in any period of thirty (30) consecutive trading days; or (iii) on or after the tenth anniversary of the Issue Date.
- [F3]Held by McKeel O Hagerty Revocable Trust dated September 18, 2003 (the "Trust"). Reporting Person is the trustee for the Trust and has investment power over the Series A Convertible Preferred Stock held by the Trust.