Form 4: Ares Management CEO Michael Arougheti Sells Shares Under 10b5-1 Trading Plan

Ares Management Corp's CEO, Michael Arougheti, executed multiple sales of Class A Common Stock between August 23 and August 27, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Michael Arougheti, Co-Founder, CEO, and President of Ares Management Corp, sold shares of Class A Common Stock between August 23 and August 27, 2024.
• The sales were executed under a 10b5-1 trading plan adopted on December 14, 2023.
• The transactions involved multiple sales at varying prices, with weighted average prices reported for each day.
• The shares were sold indirectly through Atticus Enterprises LLC.
• On August 23, 2024, sales occurred at weighted average prices of $144.49 (1,905 shares), $145.36 (5,716 shares), $146.55 (21,341 shares), and $147.05 (7,507 shares).
• On August 26, 2024, sales occurred at weighted average prices of $146.44 (9,136 shares), $146.98 (9,704 shares), and $147.95 (200 shares).
• On August 27, 2024, sales occurred at weighted average prices of $146.26 (8,096 shares), $147.17 (9,086 shares), and $147.76 (8,556 shares).
• Following these transactions, Atticus Enterprises LLC indirectly holds between 55,723 and 135,065 shares of Class A Common Stock.
• Arougheti also holds 1,375,000 restricted units, each representing the right to receive one share of Class A Common Stock upon vesting.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing reporting stock sales by an executive. It doesn't inherently convey positive or negative sentiment. The use of a 10b5-1 plan suggests the sales were pre-planned and routine.

Risks

• The Form 4 filing itself doesn't inherently indicate risks, but the sale of shares by a company executive could be interpreted negatively by some investors, depending on the context and reasons for the sale.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance. It simply reports the transactions of shares by an executive.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies. They are often part of personal financial planning and diversification strategies. The use of a 10b5-1 trading plan suggests that these sales were pre-planned and not based on any inside information.

Stakeholder Impact

• The sale of shares by a high-profile executive could have a minor impact on shareholder sentiment, but the existence of a 10b5-1 trading plan mitigates concerns about insider trading.

Key Dates