Hagerty, Inc. — Director's Dealing 2021

May 15, 2021

SEC Form 4/A — Form 4/A

Issuer: Aldel Financial Inc. (ADF)
CIK: 0001840776
Period of Report: 2021-04-09

Reporting Person: KAUFFMAN ROBERT I (Director, Chief Executive Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-09	Class A Common stock, par value $0.0001	P	1500000	—	Acquired	1500000	Indirect
2021-04-12	Class A Common stock, par value $0.0001	P	515000	—	Acquired	515000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-04-09	Warrant	$11.5	P	750000	Acquired		Class A Common stock, par value $0.0001 (750000)	Indirect
2021-04-12	Warrant	$11.5	P	257500	Acquired		Class A Common stock, par value $0.0001 (257500)	Indirect

Footnotes

F1: The shares of Class A common stock are held as part of the public units ("Public Units") of Aldel Financial Inc. (the "Company"), with each Public Unit consisting of one share of Class A common stock, par value $0.0001 per share ("Common Stock") and one-half of one warrant to purchase one share of Common Stock at an exercise price of $11.50 per share (the "Warrants").

F2: The Public Units and Private Units were purchased for $10.00 per unit.

F3: Held by Aldel LLC. Mr. Kauffman is the manager of Aldel LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

F4: Simultaneously with the consummation of the Company's initial public offering, Aldel Investors LLC (the "Sponsor") acquired, at a price of $10.00 per unit, 515,000 units (the "Private Units") in a private placement for an aggregate purchase price of $5,150,000. Each Private Unit consists of one share of Common Stock and one-half of one Warrant.

F5: Held by the Sponsor. Mr. Kauffman is a manager of the Sponsor and has voting and investment discretion with respect to the shares of common stock held of record by the Sponsor. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

F6: The Warrants included in the Public Units and the Private Units will become exercisable at any time commencing on the later of (a) 12 months from April 12, 2021, the closing date of the Company's initial public offering, or (b) 30 days after the completion of the Company's initial business combination.

F7: The Warrants will expire five years after the completion of the Company's initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.