Form 4: Ares Management Co-Founder David Kaplan Gifts 30,000 Shares to Charity

Ares Management co-founder David Kaplan gifted 30,000 shares of Class A Common Stock to a charitable foundation on November 13, 2024.

Summary

• David Kaplan, a co-founder and director of Ares Management Corp, gifted 30,000 shares of Class A Common Stock to a charitable foundation on November 13, 2024.
• The shares were previously held by Ares Owners Holdings L.P. (AOH) on behalf of Mr. Kaplan or a vehicle controlled by him.
• Following the transaction, Mr. Kaplan beneficially owns 1,150,052 shares of Class A Common Stock indirectly through AOH.
• The gifted shares are subject to a lock-up agreement and cannot be sold before November 22, 2024, without the consent of Morgan Stanley & Co. LLC and Citigroup Global Market Inc.

Sentiment

Score: 7

Explanation: The document reflects a standard transaction and does not indicate any negative or positive sentiment. The charitable donation is a positive action but not directly related to the company's financial performance.

Positives

• The gift to a charitable foundation may be viewed positively by stakeholders as it demonstrates corporate social responsibility.

Industry Context

This transaction is a routine disclosure of a change in beneficial ownership by a company insider, which is common in the financial industry.

Comparison to Industry Standards

• Similar transactions are regularly reported by executives and directors of publicly traded companies.
• Lock-up agreements are standard practice following significant corporate events such as IPOs or secondary offerings, and are common in the financial industry.
• The reporting of beneficial ownership changes via SEC Form 4 is a standard regulatory requirement for company insiders.

Stakeholder Impact

• The gift to a charitable foundation may enhance the company's reputation among stakeholders.

Key Dates

Keywords

Ares Management Corp, David Kaplan, Class A Common Stock, Charitable Gift, Beneficial Ownership, SEC Form 4, Ares Owners Holdings L.P., Lock-up Agreement