Hagerty Holding Corp. filed a Form 4 on September 11, 2026, disclosing two separate conversions of Paired Interests into Class A Common Stock of Hagerty, Inc. (NYSE:HGTY), followed by the sale of all converted shares.

Key Highlights

  • First conversion: On September 9, 2026, Hagerty Holding Corp. converted 9,250,000 Paired Interests into 9,250,000 shares of Class A Common Stock, then sold all 9,250,000 shares at $11.472 per share.
  • Second conversion: On September 11, 2026, Hagerty Holding Corp. converted 1,387,500 Paired Interests into 1,387,500 shares of Class A Common Stock, then sold all 1,387,500 shares at $11.472 per share.
  • Total shares sold: 10,637,500 shares of Class A Common Stock were disposed of across the two transactions.
  • Remaining derivative holdings: After the two transactions, Hagerty Holding Corp. held 155,914,656 Class V Common Stock units (as Paired Interests) directly.
  • Exchange mechanism: The conversions were made pursuant to the Amended and Restated Exchange Agreement dated December 2, 2021, and amended and restated as of March 23, 2022, among Hagerty, Inc., The Hagerty Group, LLC, Hagerty Holding Corp., Markel Corporation, and their respective Qualified Transferees.
  • Relationship to issuer: Hagerty Holding Corp. is identified in the filing as a 10% owner of Hagerty, Inc.

Hagerty Holding Corp. Exchange and Sale Transactions in Hagerty, Inc. Class A Shares

According to the Form 4 filed with the SEC on September 11, 2026, Hagerty Holding Corp., headquartered at 175 Wilson Road, Traverse City, Michigan 49686, reported two sets of transactions involving Class A Common Stock of Hagerty, Inc. (NYSE:HGTY). In the first set, dated September 9, 2026, the reporting person converted 9,250,000 Paired Interests into an equal number of Class A Common Stock shares using transaction code "C," and then disposed of all 9,250,000 shares via a sale at $11.472 per share (transaction code "S"), leaving zero Class A shares held directly after that transaction.

In the second set, dated September 11, 2026, Hagerty Holding Corp. repeated the process with 1,387,500 Paired Interests, converting them into 1,387,500 shares of Class A Common Stock and immediately selling all 1,387,500 shares at the same price of $11.472 per share. According to the filing, each Paired Interest consists of one share of Class V Common Stock of Hagerty, Inc. and one unit of limited liability company interest of The Hagerty Group, LLC. The filing notes that Paired Interests "may be surrendered by the Reporting Person pursuant to the Exchange Agreement in exchange for a share of Class A Common Stock of the Issuer or, at the option of the Issuer, cash," and that each Paired Interest has no expiration date.

Following both sets of transactions, the filing reports that Hagerty Holding Corp. held 155,914,656 Class V Common Stock units (in the form of Paired Interests) directly. The filing was signed by Jessica Sullivan, identified as Secretary, on behalf of Hagerty Holding Corp. on September 11, 2026.

What Was Disclosed

The filing discloses two conversion-and-sale transactions by Hagerty Holding Corp. totaling 10,637,500 Class A shares of Hagerty, Inc., all sold at $11.472 per share, with 155,914,656 Paired Interests remaining after both transactions.