Form 4: Ares Management Corp Director Bennett Rosenthal Executes Stock Sales Under 10b5-1 Plan

Ares Management Corp's Co-Founder and Chairman of PEG, Bennett Rosenthal, sold a significant number of Class A Common Stock shares between November 15th and November 19th, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Bennett Rosenthal, a director and officer of Ares Management Corp, executed multiple sales of Class A Common Stock between November 15th and November 19th, 2024.
• These transactions were conducted under a pre-arranged 10b5-1 trading plan adopted on August 16, 2024.
• The sales involved both direct and indirect holdings, with the majority of shares being sold indirectly through BAR Holdings, LLC.
• A total of 250,000 shares were acquired indirectly through BAR Holdings, LLC on November 15th at a price of $0.
• The sales prices ranged from $166.00 to $170.35 per share.
• Rosenthal also holds a significant number of Ares Operating Group Units, which are exchangeable for Class A Common Stock on a one-for-one basis.
• The reporting person or a vehicle controlled by him is a limited partner in Ares Owners Holdings L.P. which holds the shares of Class A Common Stock and AOG Units.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing stock sales by an executive under a pre-arranged plan. It does not contain any information that would be considered significantly positive or negative.

Risks

• The sales by a key executive could be perceived negatively by the market, potentially impacting the stock price.
• The 10b5-1 plan indicates a pre-determined strategy to sell shares, which could continue in the future.

Future Outlook

The document does not provide any specific forward-looking statements, but the 10b5-1 plan suggests continued sales may occur.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common in publicly traded companies. The use of a 10b5-1 plan is a standard practice for executives to manage their stock sales while avoiding accusations of insider trading.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, such as those in the financial services sector like Blackstone (BX) and KKR & Co. Inc. (KKR).
• These plans allow insiders to sell shares without being accused of trading on non-public information.
• The reported sales are within the typical range of insider transactions for executives at similar firms.
• The price range of $166.00 to $170.35 per share is consistent with the recent trading activity of Ares Management Corp stock.

Stakeholder Impact

• The stock sales by a key executive could potentially impact shareholder sentiment.
• The sales do not appear to have any immediate impact on employees, customers, or suppliers.

Key Dates

Keywords

Ares Management Corp, Bennett Rosenthal, Class A Common Stock, 10b5-1 trading plan, stock sales, insider trading, BAR Holdings LLC, Ares Owners Holdings L.P., Ares Operating Group Units