Form 4: Ares Management Corp Director David Kaplan Executes Stock Sales Under 10b5-1 Plan
SEC Form 4
David Kaplan, a Director and Co-Founder of Ares Management Corp, sold shares of Class A Common Stock between August 15 and August 19, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- David Kaplan, a Director and Co-Founder of Ares Management Corp, reported changes in beneficial ownership of the company's stock.
- The transactions involved the sale of Class A Common Stock between August 15 and August 19, 2024.
- These sales were executed under a 10b5-1 trading plan adopted on May 16, 2024.
- Kaplan sold a total of 58,166 shares of Class A Common Stock at prices ranging from $144.01 to $146.40.
- He also acquired 250,000 shares of Class A Common Stock through the conversion of Ares Operating Group Units.
- Following these transactions, Kaplan indirectly owns 191,334 shares of Class A Common Stock through Trently Holdings, LLC and 1,180,052 shares through Ares Owners Holdings L.P.
- He also indirectly owns 8,671,596 Ares Operating Group Units through Ares Owners Holdings L.P.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports transactions. The sales are under a pre-arranged plan, mitigating potential negative interpretations.
Positives
- The transactions were conducted under a pre-arranged 10b5-1 trading plan, which is a legal and transparent way for insiders to sell shares.
Industry Context
Insider transactions are routinely monitored and reported to the SEC. Sales by insiders can sometimes be interpreted negatively by the market, but pre-planned sales under 10b5-1 plans are generally viewed as less concerning.
Stakeholder Impact
- The transactions could have a minor impact on shareholders depending on how they interpret the insider sales, even though they are pre-planned.
Key Dates
| Date | Description |
|---|---|
| 2021-04-01 | Date of the Fifth Amended and Restated Exchange Agreement |
| 2024-05-16 | Date the 10b5-1 trading plan was adopted |
| 2024-08-15 | Date of first reported transaction (sale and acquisition) |
| 2024-08-16 | Date of subsequent reported transaction (sale) |
| 2024-08-19 | Date of last reported transaction (sale) |
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