Form 4: Ares Management CFO Jarrod Phillips Reports Stock Transaction
SEC Form 4 Filing
Jarrod Phillips, CFO of Ares Management Corp, reports the withholding of Class A Common Stock by the issuer to cover tax obligations related to vesting restricted units.
Summary
- On July 1, 2024, Jarrod Phillips, the Chief Financial Officer of Ares Management Corp, reported a transaction involving Class A Common Stock.
- The transaction involved the withholding of 2,583 shares of Class A Common Stock by Ares Management Corp at a price of $136.2 to cover the minimum tax withholding obligations related to the vesting of restricted units.
- Following the transaction, Phillips beneficially owns 183,231 shares of Class A Common Stock, which includes 133,158 restricted units granted under an equity incentive plan.
- Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting, and they vest in installments according to the award agreement.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to the market regarding their holdings and transactions in the company's stock.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects insider activity related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 07/01/2024 | Date of the transaction involving Class A Common Stock. |
| 07/02/2024 | Date of signature by power of attorney. |
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