Form 4: Ares Management Reports Transaction in OUTFRONT Media Inc. Series A Preferred Stock
SEC Form 4 Filing
Ares Management reports the conversion of Series A Preferred Stock into common stock of OUTFRONT Media Inc.
Summary
- Ares Management LLC and related entities filed a Form 4 detailing changes in beneficial ownership of OUTFRONT Media Inc. securities.
- On September 25, 2024, 125,000 shares of Series A Preferred Stock were converted into common stock.
- The initial conversion price of the Series A Preferred Stock is $16.00 per share, with an initial conversion rate of 62.50 shares of common stock per share of preferred stock.
- Following the transaction, Ares Management and related entities indirectly beneficially own 7,812,500 shares of common stock underlying the Series A Preferred Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, neither particularly positive nor negative.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders and large shareholders.
Key Dates
| Date | Description |
|---|---|
| 09/25/2024 | Date of transaction: Conversion of Series A Preferred Stock to Common Stock |
| 09/27/2024 | Date of Form 4 filing |
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