Form 4: Ares Management Corp Co-Founder David Kaplan Sells Class A Common Stock

David Kaplan, Co-Founder of Ares Management Corp, reports the sale of Class A Common Stock between August 23 and August 27, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• David Kaplan, Co-Founder of Ares Management Corp, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates sales of Class A Common Stock between August 23 and August 27, 2024.
• The sales were executed under a 10b5-1 trading plan adopted on May 16, 2024.
• The shares were sold at varying prices, ranging from approximately $143.87 to $148.16.
• The sales were conducted in multiple transactions at different price points within the specified ranges.
• Kaplan directly and indirectly owns shares through Trently Holdings, LLC and Ares Owners Holdings L.P.
• After the reported transactions, Kaplan indirectly owns 55,762 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 it reports routine stock sales under a pre-arranged trading plan, which doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Form 4 filings are standard disclosures required by the SEC when corporate insiders, such as officers, directors, and principal stockholders, buy or sell their company's stock; they provide transparency into insider transactions.

Stakeholder Impact

• The stock sales by a company insider could be perceived negatively by some shareholders, although the existence of a pre-arranged trading plan mitigates this concern.

Key Dates