Form 4: Ares Management Co-Founder Sells 85,000 Shares Under Pre-Arranged Trading Plan

Bennett Rosenthal, Co-Founder and Chairman of PEG at Ares Management Corp, has sold 85,000 shares of Class A Common Stock for approximately $14.2 million through a pre-arranged 10b5-1 trading plan.

Summary

• Bennett Rosenthal, a Director, 10% Owner, and Co-Founder & Chairman of PEG at Ares Management Corp (ARES), reported the sale of 85,000 shares of Class A Common Stock.
• The sales occurred on June 12, 2025, through multiple transactions at weighted average prices ranging from $166.69 to $170.08 per share.
• Specifically, 17,009 shares were sold at a weighted average price of $166.69, 21,700 shares at $167.79, 1,291 shares at $168.56, and 45,000 shares at $170.08.
• The total value of the shares sold is approximately $14,247,000.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on February 13, 2025.
• Following these sales, the reporting person's indirect beneficial ownership through BAR Holdings, LLC is 0 shares.
• The reporting person continues to indirectly beneficially own 1,076,052 shares of Class A Common Stock through Ares Owners Holdings L.P.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While an insider sale can be seen negatively, the fact that it was executed under a pre-arranged 10b5-1 plan significantly mitigates concerns about its implications for the company's future performance. It suggests a planned financial move rather than a reaction to adverse events.

Positives

• The sale was conducted under a Rule 10b5-1 trading plan, indicating a pre-scheduled transaction rather than a reaction to new negative company developments, which can mitigate negative market perception.

Negatives

• An insider sale, even if pre-planned, reduces the direct equity exposure of a key executive and can sometimes be perceived by investors as a lack of confidence, although this is less pronounced with 10b5-1 plans.

Future Outlook

NA

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide broader industry context or trends. Insider sales are common across various industries for personal financial planning, diversification, or liquidity, especially when executed under pre-arranged 10b5-1 plans.

Stakeholder Impact

• Shareholders: May observe a reduction in direct insider ownership, but the 10b5-1 plan context suggests it's a routine financial planning event rather than a signal of declining confidence.
• Employees: No direct impact mentioned.

Key Dates

Keywords

Ares Management Corp, ARES, Insider Sale, SEC Form 4, Bennett Rosenthal, 10b5-1 Plan, Equity Transaction, Stock Sale, Corporate Governance