Form 4: Ares Management Co-Founder David Kaplan Sells Shares Under 10b5-1 Trading Plan

David Kaplan, Co-Founder of Ares Management Corp, sold shares of Class A Common Stock on May 31 and June 3, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• David Kaplan, a Co-Founder of Ares Management Corp, reported the sale of Class A Common Stock on May 31 and June 3, 2024.
• The sales were executed under a 10b5-1 trading plan adopted on March 1, 2024.
• On May 31, 2024, Kaplan sold 37,839 shares at an average price of $139.59, 55,630 shares at an average price of $140.23, 6,915 shares at an average price of $141.79, 5,308 shares at an average price of $142.44, 4,049 shares at an average price of $143.44 and 600 shares at an average price of $144.33.
• On June 3, 2024, Kaplan sold 2,341 shares at an average price of $137.05, 9,229 shares at an average price of $138.02, 2,110 shares at an average price of $138.87, 879 shares at an average price of $139.82 and 100 shares at an average price of $140.51.
• Following these transactions, Kaplan directly owns no shares but indirectly owns 125,000 shares through Trently Holdings, LLC and 1,180,052 shares through Ares Owners Holdings L.P.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock sales by an insider. It doesn't inherently convey positive or negative sentiment, as it simply reports transactions executed under a pre-existing plan.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The share sales could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates