Form 4: Ares Management Corp Director Bennett Rosenthal Sells Shares Under 10b5-1 Plan

Bennett Rosenthal, Co-Founder & Chairman of PEG at Ares Management Corp, sold shares of Class A Common Stock on September 12, 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 on September 12, 2024.
• The sales were executed under a 10b5-1 trading plan adopted on May 16, 2024.
• Rosenthal sold shares in multiple transactions at weighted average prices ranging from $141.03 to $143.65.
• The sales were conducted through direct and indirect holdings, including those held by BAR Holdings, LLC and Ares Owners Holdings L.P.
• Following the reported transactions, Rosenthal continues to hold shares indirectly through BAR Holdings, LLC and Ares Owners Holdings L.P.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction was pre-planned under a 10b5-1 trading plan and doesn't necessarily reflect a change in the director's view of the company.

Industry Context

Sales by insiders are a common occurrence and are often related to personal financial planning rather than a reflection of the company's prospects.

Stakeholder Impact

• The sale of shares by a director could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates