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 on April 15, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On April 15, 2024, Bennett Rosenthal, Co-Founder & Chairman of PEG at Ares Management Corp, sold shares of Class A Common Stock.
• The sales were executed under a 10b5-1 trading plan adopted on December 14, 2023.
• Rosenthal sold 19,805 shares directly at a weighted average price of $128.54.
• He also sold shares indirectly through BAR Holdings, LLC, including 10,739 shares at $129.34, 12,895 shares at $130.70, 2,553 shares at $131.24, and 4,008 shares at $132.41.
• Following the transactions, Rosenthal directly owns 30,195 shares and indirectly owns shares through BAR Holdings, LLC and 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 under a pre-arranged plan.

Industry Context

Sales by company 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 sale of shares by a director could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates