Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2026

The following table summarizes the changes in ownership of THG units for the three and nine months ended September 30, 2026 and 2025:


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
THG units held by Hagerty, Inc.
Beginning of period	101,804,938		90,715,648		100,706,893		90,032,391
Issuance of shares under employee plans	265,585		226,575		939,228		831,530
Exchange of THG units for Class A Common Stock	18,498,911		9,484,250		18,923,313		9,562,552
End of period	120,569,434		100,426,473		120,569,434		100,426,473
Ownership percentage
Beginning of period	29.4	%	26.2	%	29.1	%	26.1	%
End of period	34.7	%	29.0	%	34.7	%	29.0	%

THG units held by other unit holders
Beginning of period	244,996,392		255,100,044		245,420,794		255,178,346
Exchange of THG units for Class A Common Stock	(18,498,911)		(9,484,250)		(18,923,313)		(9,562,552)
End of period	226,497,481		245,615,794		226,497,481		245,615,794
Ownership percentage
Beginning of period	70.6	%	73.8	%	70.9	%	73.9	%
End of period	65.3	%	71.0	%	65.3	%	71.0	%

Total THG units outstanding	347,066,915		346,042,267		347,066,915		346,042,267

Schedule of Exchanges of THG Units

The following table summarizes exchanges of THG units for shares of Class A Common Stock for the three and nine months ended September 30, 2026 and 2025:


	Three months ended September 30,		Nine months ended September 30,
	2026	2025	2026	2025

THG units exchanged:
HHC	10,637,500	9,481,750	10,637,500	9,481,750
Markel (1)	7,836,411	—	7,836,411	—
Other (2)	25,000	2,500	449,402	80,802
Total THG units exchanged	18,498,911	9,484,250	18,923,313	9,562,552

Shares of Class V Common Stock cancelled	18,473,911	9,481,750	18,473,911	9,481,750

(1) Markel participated in the 2026 THG Unit Exchange in order to maintain compliance with regulatory requirements and did not participate in the 2026 Secondary Offering. Markel is a related party to the Company. Refer to Note 20 — Related-Party Transactions for additional information on related party transactions with Markel.

(2) Certain other holders of THG units that do not hold corresponding shares of Class V Common Stock exchanged THG units for an equal number of shares of Class A Common Stock.