HGTY

SEC source: 0001840776-22-000050 · wf-form4_164919044868373.xml · nonDerivative · entry 1

SWANSON WILLIAM H · CIK 0001194790 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,341

F1 · shares: Respresents shares of Class A Common Stock of Hagerty, Inc. (the "Issuer") underlying Restricted Stock Units ("RSUs") acquired by the Reporting Person under the Issuer's 2021 Equity Incentive Plan. The RSUs vest on April 1, 2023, subject to the Reporting Person's continued service with the Issuer, with exceptions for death or disability.

SEC source: 0001840776-22-000061 · wf-form4_164919135796231.xml · nonDerivative · entry 1

Harris Laurie · CIK 0001783632 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,341

F1 · shares: Respresents shares of Class A Common Stock of Hagerty, Inc. (the "Issuer") underlying Restricted Stock Units ("RSUs") acquired by the Reporting Person under the Issuer's 2021 Equity Incentive Plan. The RSUs vest on April 1, 2023, subject to the Reporting Person's continued service with the Issuer, with exceptions for death or disability.

SEC source: 0001840776-22-000052 · wf-form4_164919055654541.xml · nonDerivative · entry 1

Kay Sabrina · CIK 0001835895 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,341

F1 · shares: Respresents shares of Class A Common Stock of Hagerty, Inc. (the "Issuer") underlying Restricted Stock Units ("RSUs") acquired by the Reporting Person under the Issuer's 2021 Equity Incentive Plan. The RSUs vest on April 1, 2023, subject to the Reporting Person's continued service with the Issuer, with exceptions for death or disability.

SEC source: 0001840776-22-000058 · wf-form4_164919113215772.xml · nonDerivative · entry 1

Smith Kelly Edward · CIK 0001899297 · Chief Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 185

F1 · shares: Respresents shares of Class A Common Stock of the Hagerty, Inc. (the "Issuer") underlying Restricted Stock Units ("RSUs") acquired by the Reporting Person under the Issuer's 2021 Equity Incentive Plan. The RSUs vest on April 1, 2024, subject to the Reporting Person's continued service with the Issuer, with exceptions for death or disability.

SEC source: 0001840776-22-000060 · wf-form4_164919126022198.xml · nonDerivative · entry 4

Butcher John Carlisle · CIK 0001899296 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 71,084

F3 · shares: Respresents shares of Class A Common Stock underlying RSUs acquired by the Reporting Person under the Plan. The RSUs vest on April 1, 2024, subject to the Reporting Person's continued service with the Issuer, with exceptions for death or disability.

SEC source: 0001840776-22-000060 · wf-form4_164919126022198.xml · nonDerivative · entry 3

Butcher John Carlisle · CIK 0001899296 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 70,899

F3 · shares: Respresents shares of Class A Common Stock underlying RSUs acquired by the Reporting Person under the Plan. The RSUs vest on April 1, 2024, subject to the Reporting Person's continued service with the Issuer, with exceptions for death or disability.

SEC source: 0001840776-22-000060 · wf-form4_164919126022198.xml · nonDerivative · entry 2

Butcher John Carlisle · CIK 0001899296 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 41,705

F2 · shares: Respresents shares of Class A Common Stock underlying RSUs acquired by the Reporting Person under the Plan. The RSUs vest on April 1, 2023, subject to the Reporting Person's continued service with the Issuer, with exceptions for death or disability.

SEC source: 0001840776-22-000060 · wf-form4_164919126022198.xml · nonDerivative · entry 1

Butcher John Carlisle · CIK 0001899296 · President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,279

F1 · shares: Respresents shares of Class A Common Stock of Hagerty, Inc. ("Class A Common Stock") underlying restricted stock units ("RSUs") acquired by the Reporting Person under the Hagerty, Inc. (the "Issuer") 2021 Equity Incentive Plan (the "Plan"). The RSUs vest in equal amounts on each annual-anniversary of the grant date ending on April 1, 2025, subject to the Reporting Person's continued service with the Issuer, with exceptions for death, disability, or retirement.

SEC source: 0001104659-21-146798 · tm2134710-1_4seq1.xml · derivative · entry 3

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 2,225,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_price: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of the Issuer were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F3 · kind: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of the Issuer were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F3 · derivative.exercise_date: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of the Issuer were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F3 · derivative.expiration_date: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of the Issuer were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F4 · derivative.underlying_shares: Includes 2,200,000 shares held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment power over the shares of Class A Common Stock held by Aldel Investors LLC.

SEC source: 0001104659-21-146798 · tm2134710-1_4seq1.xml · nonDerivative · entry 2

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,225,000

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · kind: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of the Issuer were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F4 · shares: Includes 2,200,000 shares held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment power over the shares of Class A Common Stock held by Aldel Investors LLC.

SEC source: 0001104659-21-146798 · tm2134710-1_4seq1.xml · nonDerivative · entry 1

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Aldel LLC

Disclosed balance after: 2,000,000

F1 · kind: Consists of 2,000,000 shares of Class A Common Stock purchased in a private placement from Aldel Financial Inc. (the "PIPE Financing") by Aldel LLC for $10.00 per share.

F2 · ownership.nature: Held by Aldel LLC. Mr. Kauffman is the managing member of Aldel LLC and has voting and investment power over the shares of Class A Common Stock held by Aldel LLC.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 15

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel LLC

Disclosed balance after: 360,000

Underlying: Class A Common Stock · 360,000 shares

Expires 2026-12-02

F5 · security: The shares of Class A common stock are held as part of the PIPE units ("PIPE Units") of Aldel Financial Inc., with each PIPE Unit consisting of one share of Class A Common Stock, par value $0.0001 per share ("Common Stock") and 18% of one PIPE Warrant to purchase one share of Common Stock at an exercise price of $11.50 per share (the "PIPE Warrants"). The PIPE Units were purchased for $10.00 per share from Aldel Financial Inc.

F5 · price: The shares of Class A common stock are held as part of the PIPE units ("PIPE Units") of Aldel Financial Inc., with each PIPE Unit consisting of one share of Class A Common Stock, par value $0.0001 per share ("Common Stock") and 18% of one PIPE Warrant to purchase one share of Common Stock at an exercise price of $11.50 per share (the "PIPE Warrants"). The PIPE Units were purchased for $10.00 per share from Aldel Financial Inc.

F2 · ownership.nature: 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.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 14

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 25,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F6 · security: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of Aldel Financial Inc. were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F8 · derivative.exercise_price: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F6 · price: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of Aldel Financial Inc. were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F8 · derivative.exercise_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F8 · derivative.expiration_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 13

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel Investors LLC

Disclosed balance after: 0

Underlying: Class A Common Stock · 2,200,000 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F6 · security: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of Aldel Financial Inc. were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F8 · derivative.exercise_price: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F6 · price: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of Aldel Financial Inc. were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F8 · derivative.exercise_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F8 · derivative.expiration_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F4 · ownership.nature: Held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel Investors LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · nonDerivative · entry 5

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,000

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F6 · security: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of Aldel Financial Inc. were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F6 · price: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of Aldel Financial Inc. were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · nonDerivative · entry 4

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel Investors LLC

Disclosed balance after: 2,200,000

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F6 · security: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of Aldel Financial Inc. were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F6 · price: As described in Aldel Financial Inc.'s definitive proxy statement dated November 10, 2021 under the heading "Description of Securities of Aldel- Founder Shares," the shares of Class B common stock of Aldel Financial Inc. were automatically converted into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis.

F4 · ownership.nature: Held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel Investors LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · nonDerivative · entry 3

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel LLC

Disclosed balance after: 2,000,000

F5 · security: The shares of Class A common stock are held as part of the PIPE units ("PIPE Units") of Aldel Financial Inc., with each PIPE Unit consisting of one share of Class A Common Stock, par value $0.0001 per share ("Common Stock") and 18% of one PIPE Warrant to purchase one share of Common Stock at an exercise price of $11.50 per share (the "PIPE Warrants"). The PIPE Units were purchased for $10.00 per share from Aldel Financial Inc.

F5 · price: The shares of Class A common stock are held as part of the PIPE units ("PIPE Units") of Aldel Financial Inc., with each PIPE Unit consisting of one share of Class A Common Stock, par value $0.0001 per share ("Common Stock") and 18% of one PIPE Warrant to purchase one share of Common Stock at an exercise price of $11.50 per share (the "PIPE Warrants"). The PIPE Units were purchased for $10.00 per share from Aldel Financial Inc.

F2 · ownership.nature: 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.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 12

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel Investors LLC

Disclosed balance after: 0

Underlying: Class A Common Stock · 2,300,000 shares

Expires not disclosed

F14 · security: On March 25, 2021, Aldel Investors LLC forfeited to Aldel Financial Inc. for no consideration, 2,300,000 shares of Class B Common Stock.

F8 · derivative.exercise_price: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F14 · price: On March 25, 2021, Aldel Investors LLC forfeited to Aldel Financial Inc. for no consideration, 2,300,000 shares of Class B Common Stock.

F8 · derivative.exercise_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F8 · derivative.expiration_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F4 · ownership.nature: Held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel Investors LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001104659-21-050144 · tm2112929d2_form4.xml · nonDerivative · entry 1

Aldel Investors LLC · CIK 0001850315 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 515,000

F1 · kind: Consists of 515,000 of the Issuer's Private Placement Units, as described under the heading "Description of Securities" in the Issuer's registration statement on Form S-1 (File No. 333-253166), purchased by the Reporting Person for $10.00 per Private Placement Unit.

SEC source: 0001104659-21-050135 · tm2112929d1_form4.xml · nonDerivative · entry 1

KAUFFMAN ROBERT I · CIK 0001124462 · Director · Chief Executive Officer · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Aldel Investors LLC

Disclosed balance after: 515,000

F1 · kind: Consists of 515,000 of the Issuer's Private Placement Units, as described under the heading "Description of Securities" in the Issuer's registration statement on Form S-1 (File No. 333-253166), purchased by Aldel Investors LLC for $10.00 per Private Placement Unit.

F2 · ownership.nature: Held by Aldel Investors LLC (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.

SEC source: 0001104659-21-067158 · tm2116415d2_form4a.xml · derivative · entry 4

KAUFFMAN ROBERT I · CIK 0001124462 · Director · Chief Executive Officer · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 257,500

Underlying: Class A Common stock, par value $0.0001 · 257,500 shares

Expires not disclosed

F4 · security: 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.

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

F6 · derivative.exercise_date: 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 · derivative.expiration_date: 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.

F5 · ownership.nature: 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.

SEC source: 0001104659-21-067158 · tm2116415d2_form4a.xml · nonDerivative · entry 2

KAUFFMAN ROBERT I · CIK 0001124462 · Director · Chief Executive Officer · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Aldel Investors LLC

Disclosed balance after: 515,000

F4 · security: 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.

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

F5 · ownership.nature: 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.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 11

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel Investors LLC

Disclosed balance after: 257,500

Underlying: Class A Common Stock · 257,500 shares

Expires 2026-12-02

F3 · security: Simultaneously with the consummation of the initial public offering of Aldel Financial Inc., Aldel Investors LLC 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 Class A Common Stock and one-half of one Private Placement Warrant to purchase one share of Class A Common Stock at an exercise price of $11.50 per share.

F12 · security: Pursuant to the Sponsor Warrant Lock-Up Agreement dated as of December 2, 2021, the Private Placement Warrants are not exercisable until the date on which the volume weighted average trading price of the Class A Common Stock exceeds $15.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing December 2, 2022, and the OTM Warrants are not exercisable until the date on which the volume weighted average trading price of the common stock of the Class A Common Stock exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing June 2, 2023.

F3 · price: Simultaneously with the consummation of the initial public offering of Aldel Financial Inc., Aldel Investors LLC 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 Class A Common Stock and one-half of one Private Placement Warrant to purchase one share of Class A Common Stock at an exercise price of $11.50 per share.

F4 · ownership.nature: Held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel Investors LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · nonDerivative · entry 2

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel Investors LLC

Disclosed balance after: 515,000

F3 · security: Simultaneously with the consummation of the initial public offering of Aldel Financial Inc., Aldel Investors LLC 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 Class A Common Stock and one-half of one Private Placement Warrant to purchase one share of Class A Common Stock at an exercise price of $11.50 per share.

F3 · price: Simultaneously with the consummation of the initial public offering of Aldel Financial Inc., Aldel Investors LLC 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 Class A Common Stock and one-half of one Private Placement Warrant to purchase one share of Class A Common Stock at an exercise price of $11.50 per share.

F4 · ownership.nature: Held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel Investors LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001104659-21-067158 · tm2116415d2_form4a.xml · derivative · entry 3

KAUFFMAN ROBERT I · CIK 0001124462 · Director · Chief Executive Officer · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 750,000

Underlying: Class A Common stock, par value $0.0001 · 750,000 shares

Expires not disclosed

F1 · security: 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 · price: The Public Units and Private Units were purchased for $10.00 per unit.

F6 · derivative.exercise_date: 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 · derivative.expiration_date: 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.

F3 · ownership.nature: 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.

SEC source: 0001104659-21-067158 · tm2116415d2_form4a.xml · nonDerivative · entry 1

KAUFFMAN ROBERT I · CIK 0001124462 · Director · Chief Executive Officer · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · Held by Aldel LLC

Disclosed balance after: 1,500,000

F1 · security: 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 · price: The Public Units and Private Units were purchased for $10.00 per unit.

F3 · ownership.nature: 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.

SEC source: 0001104659-21-109273 · tm2125836d2_4.xml · derivative · entry 2

Nearburg Charles E. · CIK 0001850522 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 107,500

Underlying: Class A Common stock, par value $0.0001 · 107,500 shares

Expires not disclosed

F1 · security: 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 · price: The Public Units were purchased for $10.00 per unit.

F3 · derivative.exercise_date: The Warrants included in the Public 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.

F4 · derivative.expiration_date: 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.

SEC source: 0001104659-21-109273 · tm2125836d2_4.xml · nonDerivative · entry 1

Nearburg Charles E. · CIK 0001850522 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 215,000

F1 · security: 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 · price: The Public Units were purchased for $10.00 per unit.

SEC source: 0001104659-21-109269 · tm2125836d1_4.xml · derivative · entry 2

Friedman Martin S. · CIK 0001449556 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,500

Underlying: Class A Common stock, par value $0.0001 · 12,500 shares

Expires not disclosed

F1 · security: 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 · price: The Public Units were purchased for $10.00 per unit.

F3 · derivative.exercise_date: The Warrants included in the Public 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.

F4 · derivative.expiration_date: 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.

SEC source: 0001104659-21-109269 · tm2125836d1_4.xml · nonDerivative · entry 1

Friedman Martin S. · CIK 0001449556 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,000

F1 · security: 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 · price: The Public Units were purchased for $10.00 per unit.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 10

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel LLC

Disclosed balance after: 750,000

Underlying: Class A Common Stock · 750,000 shares

Expires 2026-12-02

F1 · security: The shares of Class A common stock were acquired as part of the public units ("Public Units") of Aldel Financial Inc. in connection with its initial public offering. Each Public Unit consisted of one share of Class A Common Stock and one-half of one Public Warrant to purchase one share of Class A Common Stock at an exercise price of $11.50 per share (the "Public Warrants"). The Public Units were purchased for $10.00 per share.

F13 · security: The Public Warrants are exercisable beginning on April 12, 2022.

F1 · price: The shares of Class A common stock were acquired as part of the public units ("Public Units") of Aldel Financial Inc. in connection with its initial public offering. Each Public Unit consisted of one share of Class A Common Stock and one-half of one Public Warrant to purchase one share of Class A Common Stock at an exercise price of $11.50 per share (the "Public Warrants"). The Public Units were purchased for $10.00 per share.

F2 · ownership.nature: 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.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · nonDerivative · entry 1

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel LLC

Disclosed balance after: 1,500,000

F1 · security: The shares of Class A common stock were acquired as part of the public units ("Public Units") of Aldel Financial Inc. in connection with its initial public offering. Each Public Unit consisted of one share of Class A Common Stock and one-half of one Public Warrant to purchase one share of Class A Common Stock at an exercise price of $11.50 per share (the "Public Warrants"). The Public Units were purchased for $10.00 per share.

F1 · price: The shares of Class A common stock were acquired as part of the public units ("Public Units") of Aldel Financial Inc. in connection with its initial public offering. Each Public Unit consisted of one share of Class A Common Stock and one-half of one Public Warrant to purchase one share of Class A Common Stock at an exercise price of $11.50 per share (the "Public Warrants"). The Public Units were purchased for $10.00 per share.

F2 · ownership.nature: 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.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 9

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel Investors LLC

Disclosed balance after: 650,000

Underlying: Class A Common Stock · 650,000 shares

Expires 2026-12-02

F11 · security: Consists of 650,000 OTM Warrants purchased pursuant to the OTM Warrants Purchase Agreement, dated April 8, 2021, by and among Aldel Financial Inc., Aldel Investors LLC, a Delaware limited liability company, and FG SPAC Partners LP, a Delaware limited partnership. Each OTM Warrant is exercisable for one share of Class A Common Stock at an exercise price of $15.00 per share.

F12 · security: Pursuant to the Sponsor Warrant Lock-Up Agreement dated as of December 2, 2021, the Private Placement Warrants are not exercisable until the date on which the volume weighted average trading price of the Class A Common Stock exceeds $15.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing December 2, 2022, and the OTM Warrants are not exercisable until the date on which the volume weighted average trading price of the common stock of the Class A Common Stock exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing June 2, 2023.

F4 · ownership.nature: Held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel Investors LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 8

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock · 25,000 shares

Expires not disclosed

F10 · security: On January 15, 2021, Robert Kauffman received 25,000 shares of Class B Common Stock from Aldel Investors LLC.

F8 · derivative.exercise_price: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F10 · price: On January 15, 2021, Robert Kauffman received 25,000 shares of Class B Common Stock from Aldel Investors LLC.

F8 · derivative.exercise_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F8 · derivative.expiration_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 7

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel Investors LLC

Disclosed balance after: 0

Underlying: Class A Common Stock · 175,000 shares

Expires not disclosed

F9 · security: On January 15, 2021, the Aldel Investors LLC transferred an aggregate of 175,000 shares of Class B Common Stock to members of the Aldel Financial Inc.'s management and board of directors as well as senior advisors.

F8 · derivative.exercise_price: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F9 · price: On January 15, 2021, the Aldel Investors LLC transferred an aggregate of 175,000 shares of Class B Common Stock to members of the Aldel Financial Inc.'s management and board of directors as well as senior advisors.

F8 · derivative.exercise_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F8 · derivative.expiration_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F4 · ownership.nature: Held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel Investors LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

SEC source: 0001840776-22-000010 · wf-form5_164487297893311.xml · derivative · entry 6

KAUFFMAN ROBERT I · CIK 0001124462 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · By Aldel Investors LLC

Disclosed balance after: 0

Underlying: Class A Common Stock · 2,200,000 shares

Expires not disclosed

F7 · security: On January 11, 2021, Aldel Financial Inc. issued 4,675,000 shares of Class B Common Stock to Aldel Investors LLC for a purchase price of $20,326.09.

F8 · derivative.exercise_price: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F7 · price: On January 11, 2021, Aldel Financial Inc. issued 4,675,000 shares of Class B Common Stock to Aldel Investors LLC for a purchase price of $20,326.09.

F8 · derivative.exercise_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F8 · derivative.expiration_date: On December 2, 2021, upon closing of the initial business combination, the shares of Class B common stock converted into shares of Class A common stock on a one-for-one basis.

F4 · ownership.nature: Held by Aldel Investors LLC. Mr. Kauffman is the manager of Aldel Investors LLC and has voting and investment discretion with respect to the shares of common stock held of record by Aldel Investors LLC. Mr. Kauffman disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.