[SCHEDULE 13D/A] Hagerty, Inc. SEC Filing
Hagerty Holding Corp. (HHC) reported an additional sale of 1,236,750 shares of Hagerty, Inc. Class A common stock on August 13, 2025, at $8.9197 per share pursuant to an underwriters' option. HHC continues to hold 166,552,156 Class V Common Stock and an equal number of OpCo Units that HHC may surrender for the same number of Class A shares or cash. Those interests are presented as potentially convertible into 166,552,156 Class A shares, representing approximately 62.4% of Class A on a pro forma basis, and HHC controls roughly 66.0% of the voting power due to the dual-class structure where each Class V share currently carries ten votes. The filing disclaims broader beneficial ownership under Rule 13d-4 while describing family ownership and voting arrangements within HHC.
Hagerty Holding Corp. (HHC) ha comunicato la vendita aggiuntiva di 1.236.750 azioni ordinarie di Classe A di Hagerty, Inc. il 13 agosto 2025, a 8,9197 USD per azione, esercitando un'opzione degli underwriter. HHC continua a detenere 166.552.156 azioni di Classe V e lo stesso numero di OpCo Units, che pu貌 convertire in pari numero di azioni di Classe A o incassare in contanti. Questi interessi sono rappresentati come potenzialmente convertibili in 166.552.156 azioni di Classe A, pari a circa il 62,4% delle azioni di Classe A su base pro forma, e HHC controlla circa il 66,0% del potere di voto grazie alla struttura a doppia classe, in cui ogni azione di Classe V attualmente attribuisce dieci voti. Il deposito rigetta una pi霉 ampia titolarit脿 beneficiaria ai sensi della Rule 13d-4 mentre descrive la propriet脿 familiare e gli accordi di voto all'interno di HHC.
Hagerty Holding Corp. (HHC) inform贸 la venta adicional de 1.236.750 acciones ordinarias Clase A de Hagerty, Inc. el 13 de agosto de 2025, a 8,9197 USD por acci贸n, en virtud de una opci贸n de los colocadores. HHC sigue manteniendo 166.552.156 acciones Clase V y el mismo n煤mero de Unidades de OpCo, que puede convertir en el mismo n煤mero de acciones Clase A o liquidar en efectivo. Estos intereses se presentan como potencialmente convertibles en 166.552.156 acciones Clase A, lo que representa aproximadamente el 62,4% de las acciones Clase A en base pro forma, y HHC controla en torno al 66,0% del poder de voto debido a la estructura de doble clase, donde cada acci贸n Clase V concede actualmente diez votos. La presentaci贸n descarta una propiedad beneficiaria m谩s amplia seg煤n la Regla 13d-4 mientras describe la propiedad familiar y los acuerdos de voto dentro de HHC.
Hagerty Holding Corp.(HHC)電� 2025雲� 8鞗� 13鞚� 鞚胳垬鞚� 鞓奠厴鞐� 霐半澕 Hagerty, Inc.鞚� 韥措灅鞀� A 氤错喌欤� 1,236,750欤茧ゼ 欤茧嫻 8.9197雼煬鞐� 於旉皜搿� 毵り皝頄堧嫟瓿� 氤搓碃頄堨姷雼堧嫟. HHC電� 鞐爠頌� 166,552,156欤检潣 韥措灅鞀� V 氤错喌欤检檧 霃欖澕 靾橂焿鞚� OpCo 鞙犽嫑鞚� 氤挫湢頃橁碃 鞛堨溂氅�, 鞚措ゼ 臧欖潃 靾橃潣 韥措灅鞀� A 欤检嫕鞙茧 鞝勴櫂頃橁卑雮� 順勱笀鞙茧 甑愴櫂頃� 靾� 鞛堨姷雼堧嫟. 頃措嫻 鞚挫澋鞚� 鞛犾灛鞝侅溂搿� 166,552,156欤检潣 韥措灅鞀� A 欤检嫕鞙茧 鞝勴櫂 臧�電ロ暅 瓴冹溂搿� 響滌嫓霅橂┌, 鞚措姅 頂勲韽ゴ毵� 旮办鞙茧 韥措灅鞀� A鞚� 鞎� 62.4%鞐� 頃措嫻頃橁碃, 韥措灅鞀� V 欤检嫕鞚� 順勳灛 臧� 欤茧嫻 10響滊ゼ 頄夓偓頃橂姅 鞚挫 韥措灅鞀� 甑“搿� 鞚疙暣 HHC電� 鞎� 66.0%鞚� 鞚橁舶甓岇潉 韱奠牅頃╇媹雼�. 鞝滌稖靹滊姅 Rule 13d-4鞐� 霐半ジ 氤措嫟 甏戨矓鞙勴暅 鞁れ唽鞙犼秾鞚� 攵�鞚疙晿氅挫劀 HHC 雮措秬鞚� 臧�臁� 靻岇湢鞕� 鞚橁舶甓� 頃╈潣電� 靹る獏頃╇媹雼�.
Hagerty Holding Corp. (HHC) a d茅clar茅 une vente suppl茅mentaire de 1 236 750 actions ordinaires de cat茅gorie A de Hagerty, Inc. le 13 ao没t 2025, au prix de 8,9197 USD par action, en vertu d'une option des souscripteurs. HHC d茅tient toujours 166 552 156 actions de cat茅gorie V et le m锚me nombre d'OpCo Units, qu'elle peut convertir en autant d'actions de cat茅gorie A ou r茅gler en num茅raire. Ces participations sont pr茅sent茅es comme potentiellement convertibles en 166 552 156 actions de cat茅gorie A, soit environ 62,4 % des actions de cat茅gorie A sur une base pro forma, et HHC contr么le environ 66,0 % du pouvoir de vote en raison de la structure 脿 deux cat茅gories d'actions, chaque action de cat茅gorie V donnant actuellement droit 脿 dix voix. Le d茅p么t d茅cline une titularit茅 b茅n茅ficiaire plus large en vertu de la Rule 13d-4 tout en d茅crivant la propri茅t茅 familiale et les accords de vote au sein de HHC.
Hagerty Holding Corp. (HHC) meldete den zus盲tzlichen Verkauf von 1.236.750 Aktien der Klasse A von Hagerty, Inc. am 13. August 2025 zu je 8,9197 USD im Rahmen einer Option der Underwriter. HHC h盲lt weiterhin 166.552.156 Class鈥慥鈥慡tammaktien sowie die gleiche Anzahl an OpCo鈥慐inheiten, die es in dieselbe Anzahl Class鈥慉鈥慉ktien oder in bar umtauschen kann. Diese Beteiligungen werden als potenziell in 166.552.156 Class鈥慉鈥慉ktien wandelbar dargestellt, was pro forma etwa 62,4 % der Class鈥慉鈥慉ktien entspricht, und HHC kontrolliert aufgrund der Dual鈥慍lass鈥慡truktur, bei der jede Class鈥慥鈥慉ktie derzeit zehn Stimmen hat, rund 66,0 % der Stimmrechte. Die Einreichung lehnt eine weitergehende wirtschaftliche Eigent眉merschaft nach Rule 13d鈥�4 ab, beschreibt jedoch famili盲re Besitz鈥� und Stimmrechtsvereinbarungen innerhalb von HHC.
- HHC retains substantial voting control (~66.0% of voting power), ensuring continuity of strategic direction
- Pro forma ownership disclosed clearly: 166,552,156 Class V shares/OpCo Units convertible to the same number of Class A shares, representing ~62.4% of Class A on a pro forma basis
- Transaction was executed through underwriter option, indicating orderly secondary market mechanics rather than an unsolicited sale
- Dual-class share structure concentrates voting power (Class V carries ten votes per share until specified triggers), which may be a governance concern for minority holders
- Conversion mechanics and exchange rights (including annual exchange options and estate-related surrenders) could limit liquidity and change capital structure over time
Insights
TL;DR: HHC retains dominant voting control (~66%) despite a small secondary sale; pro forma conversion would represent ~62.4% of Class A shares.
HHC sold 1,236,750 Class A shares at $8.9197, a routine underwriter option exercise, while continuing to hold substantial Class V Common Stock and OpCo Units that could convert into 166,552,156 Class A shares. The reported percentages show entrenched control which preserves strategic direction and governance influence. The sale size is small relative to HHC's total economic and voting position and does not materially reduce HHC's control metrics disclosed in the filing.
TL;DR: The dual-class structure and conversion mechanics maintain concentrated voting power, which is material for minority shareholders and governance assessment.
The Schedule 13D/A highlights that Class V shares carry ten votes per share until specified events, producing ~66.0% voting control for HHC. The filing documents mechanisms allowing limited annual exchanges and estate-related surrenders, with safeguards that preserve a minimum voting threshold for HHC. These structural features are material to shareholder rights and control risk, and they should be considered when assessing governance and takeover defenses.
Hagerty Holding Corp. (HHC) ha comunicato la vendita aggiuntiva di 1.236.750 azioni ordinarie di Classe A di Hagerty, Inc. il 13 agosto 2025, a 8,9197 USD per azione, esercitando un'opzione degli underwriter. HHC continua a detenere 166.552.156 azioni di Classe V e lo stesso numero di OpCo Units, che pu貌 convertire in pari numero di azioni di Classe A o incassare in contanti. Questi interessi sono rappresentati come potenzialmente convertibili in 166.552.156 azioni di Classe A, pari a circa il 62,4% delle azioni di Classe A su base pro forma, e HHC controlla circa il 66,0% del potere di voto grazie alla struttura a doppia classe, in cui ogni azione di Classe V attualmente attribuisce dieci voti. Il deposito rigetta una pi霉 ampia titolarit脿 beneficiaria ai sensi della Rule 13d-4 mentre descrive la propriet脿 familiare e gli accordi di voto all'interno di HHC.
Hagerty Holding Corp. (HHC) inform贸 la venta adicional de 1.236.750 acciones ordinarias Clase A de Hagerty, Inc. el 13 de agosto de 2025, a 8,9197 USD por acci贸n, en virtud de una opci贸n de los colocadores. HHC sigue manteniendo 166.552.156 acciones Clase V y el mismo n煤mero de Unidades de OpCo, que puede convertir en el mismo n煤mero de acciones Clase A o liquidar en efectivo. Estos intereses se presentan como potencialmente convertibles en 166.552.156 acciones Clase A, lo que representa aproximadamente el 62,4% de las acciones Clase A en base pro forma, y HHC controla en torno al 66,0% del poder de voto debido a la estructura de doble clase, donde cada acci贸n Clase V concede actualmente diez votos. La presentaci贸n descarta una propiedad beneficiaria m谩s amplia seg煤n la Regla 13d-4 mientras describe la propiedad familiar y los acuerdos de voto dentro de HHC.
Hagerty Holding Corp.(HHC)電� 2025雲� 8鞗� 13鞚� 鞚胳垬鞚� 鞓奠厴鞐� 霐半澕 Hagerty, Inc.鞚� 韥措灅鞀� A 氤错喌欤� 1,236,750欤茧ゼ 欤茧嫻 8.9197雼煬鞐� 於旉皜搿� 毵り皝頄堧嫟瓿� 氤搓碃頄堨姷雼堧嫟. HHC電� 鞐爠頌� 166,552,156欤检潣 韥措灅鞀� V 氤错喌欤检檧 霃欖澕 靾橂焿鞚� OpCo 鞙犽嫑鞚� 氤挫湢頃橁碃 鞛堨溂氅�, 鞚措ゼ 臧欖潃 靾橃潣 韥措灅鞀� A 欤检嫕鞙茧 鞝勴櫂頃橁卑雮� 順勱笀鞙茧 甑愴櫂頃� 靾� 鞛堨姷雼堧嫟. 頃措嫻 鞚挫澋鞚� 鞛犾灛鞝侅溂搿� 166,552,156欤检潣 韥措灅鞀� A 欤检嫕鞙茧 鞝勴櫂 臧�電ロ暅 瓴冹溂搿� 響滌嫓霅橂┌, 鞚措姅 頂勲韽ゴ毵� 旮办鞙茧 韥措灅鞀� A鞚� 鞎� 62.4%鞐� 頃措嫻頃橁碃, 韥措灅鞀� V 欤检嫕鞚� 順勳灛 臧� 欤茧嫻 10響滊ゼ 頄夓偓頃橂姅 鞚挫 韥措灅鞀� 甑“搿� 鞚疙暣 HHC電� 鞎� 66.0%鞚� 鞚橁舶甓岇潉 韱奠牅頃╇媹雼�. 鞝滌稖靹滊姅 Rule 13d-4鞐� 霐半ジ 氤措嫟 甏戨矓鞙勴暅 鞁れ唽鞙犼秾鞚� 攵�鞚疙晿氅挫劀 HHC 雮措秬鞚� 臧�臁� 靻岇湢鞕� 鞚橁舶甓� 頃╈潣電� 靹る獏頃╇媹雼�.
Hagerty Holding Corp. (HHC) a d茅clar茅 une vente suppl茅mentaire de 1 236 750 actions ordinaires de cat茅gorie A de Hagerty, Inc. le 13 ao没t 2025, au prix de 8,9197 USD par action, en vertu d'une option des souscripteurs. HHC d茅tient toujours 166 552 156 actions de cat茅gorie V et le m锚me nombre d'OpCo Units, qu'elle peut convertir en autant d'actions de cat茅gorie A ou r茅gler en num茅raire. Ces participations sont pr茅sent茅es comme potentiellement convertibles en 166 552 156 actions de cat茅gorie A, soit environ 62,4 % des actions de cat茅gorie A sur une base pro forma, et HHC contr么le environ 66,0 % du pouvoir de vote en raison de la structure 脿 deux cat茅gories d'actions, chaque action de cat茅gorie V donnant actuellement droit 脿 dix voix. Le d茅p么t d茅cline une titularit茅 b茅n茅ficiaire plus large en vertu de la Rule 13d-4 tout en d茅crivant la propri茅t茅 familiale et les accords de vote au sein de HHC.
Hagerty Holding Corp. (HHC) meldete den zus盲tzlichen Verkauf von 1.236.750 Aktien der Klasse A von Hagerty, Inc. am 13. August 2025 zu je 8,9197 USD im Rahmen einer Option der Underwriter. HHC h盲lt weiterhin 166.552.156 Class鈥慥鈥慡tammaktien sowie die gleiche Anzahl an OpCo鈥慐inheiten, die es in dieselbe Anzahl Class鈥慉鈥慉ktien oder in bar umtauschen kann. Diese Beteiligungen werden als potenziell in 166.552.156 Class鈥慉鈥慉ktien wandelbar dargestellt, was pro forma etwa 62,4 % der Class鈥慉鈥慉ktien entspricht, und HHC kontrolliert aufgrund der Dual鈥慍lass鈥慡truktur, bei der jede Class鈥慥鈥慉ktie derzeit zehn Stimmen hat, rund 66,0 % der Stimmrechte. Die Einreichung lehnt eine weitergehende wirtschaftliche Eigent眉merschaft nach Rule 13d鈥�4 ab, beschreibt jedoch famili盲re Besitz鈥� und Stimmrechtsvereinbarungen innerhalb von HHC.
FAQ
What did Hagerty Holding Corp. (HGTY) sell on August 13, 2025?
How many Class V shares and OpCo Units does HHC report owning?
What percentage of Class A and voting power does HHC control?
Do Class V shares have different voting rights?
Who controls HHC and how are votes directed?
