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

David Kaplan, Co-Founder of Ares Management Corp, sold Class A Common Stock in multiple transactions under a pre-arranged 10b5-1 trading plan.

Summary

• David Kaplan, Co-Founder of Ares Management Corp, reported the sale of Class A Common Stock on March 20 and 21, 2024.
• The sales were executed under a 10b5-1 trading plan adopted on December 14, 2023.
• The transactions involved multiple sales at varying prices, ranging from $131.09 to $137.82 per share.
• The shares were sold indirectly through Trently Holdings, LLC, a vehicle controlled by Kaplan.
• Following the reported transactions, Kaplan 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 sentiment is neutral as the filing simply reports transactions under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Sales by insiders are a common occurrence and are often pre-planned through 10b5-1 trading plans to avoid accusations of trading on material non-public information. The market typically analyzes the size and frequency of such sales to gauge insider sentiment.

Stakeholder Impact

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

Key Dates