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

Bennett Rosenthal, Co-Founder & Chairman of PEG at Ares Management Corp, sold shares of Class A Common Stock on April 3, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On April 3, 2024, Bennett Rosenthal, a Director and Co-Founder & Chairman of PEG at Ares Management Corp, executed sales of Class A Common Stock.
• The sales were conducted under a 10b5-1 trading plan adopted on December 14, 2023.
• Rosenthal sold 6,044 shares at a weighted average price of $131.78, with individual prices ranging from $130.96 to $131.95.
• An additional 7,052 shares were sold at a weighted average price of $132.27, with individual prices ranging from $131.96 to $132.95.
• Following these transactions, Rosenthal directly owns 57,052 shares and indirectly owns 50,000 shares through BAR Holdings, LLC, and 1,105,052 shares through Ares Owners Holdings L.P.

Sentiment

Score: 5

Explanation: The document reports routine stock sales under a pre-arranged trading plan, indicating a neutral sentiment.

Industry Context

Sales by insiders are a common occurrence and are often planned in advance, especially when executed under 10b5-1 trading plans. These plans allow insiders to sell shares over a period of time without being accused of trading on non-public 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.

Key Dates