Form 4: Ares Management Corp Director Bennett Rosenthal Sells Class A Common Stock

Bennett Rosenthal, Co-Founder & Chairman of PEG at Ares Management Corp, sold Class A Common Stock in multiple transactions between August 20 and August 22, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Bennett Rosenthal, a director and Co-Founder & Chairman of PEG at Ares Management Corp, reported the sale of Class A Common Stock.
• The sales occurred between August 20, 2024, and August 22, 2024.
• The transactions were executed under a 10b5-1 trading plan adopted on May 16, 2024.
• The sales were conducted at varying prices, with weighted average prices reported for each day.
• On August 20, 2024, 14,818 shares were sold at a weighted average price of $144.16, and 4,955 shares were sold at a weighted average price of $144.69.
• On August 21, 2024, 5,843 shares were sold at a weighted average price of $143.66, and 9,861 shares were sold at a weighted average price of $144.34.
• On August 22, 2024, 3,987 shares were sold at a weighted average price of $144.03, and 2,044 shares were sold at a weighted average price of $144.65.
• Following these transactions, Rosenthal directly owns 176,690 shares and indirectly owns 150,000 shares through BAR Holdings, LLC and 1,105,052 shares through Ares Owners Holdings L.P.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions.

Industry Context

Sales by insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan suggests the sales were pre-planned and not based on current market information.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• The sales do not appear to have a significant impact on employees, customers, suppliers, or creditors.

Key Dates