Form 4: Ares Management Corp Executive Ryan Berry Sells Shares Under 10b5-1 Plan

Ryan Berry, Chief Marketing & Strategy Officer of Ares Management Corp, sold shares of Class A Common Stock between September 17 and September 19, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Ryan Berry, Chief Marketing & Strategy Officer at Ares Management Corp, executed multiple sales of Class A Common Stock between September 17 and September 19, 2024.
• The sales were conducted under a 10b5-1 trading plan adopted on June 6, 2024.
• On September 17, 2024, Berry sold 11,092 shares at an average price of $150.37, 1,408 shares at an average price of $151.06, and 12,500 shares at an average price of $152.17.
• On September 18, 2024, Berry sold 11,220 shares at an average price of $154.32 and 1,280 shares at an average price of $155.13.
• On September 19, 2024, Berry sold 12,500 shares at an average price of $156.17.
• Following these transactions, Berry directly owns 364,202 shares of Class A Common Stock.
• Berry also indirectly owns shares through a Retirement Savings Plan (2,700 shares), Spouse's SEP IRA (7,387 shares), joint tenancy with spouse (293,224 shares), and an IRA (5,003 shares).
• The reported transactions also include 264,202 restricted units granted under an equity incentive plan, each representing the right to receive one share of Class A Common Stock upon vesting.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transactions are part of a pre-planned trading strategy (10b5-1 plan) and do not necessarily indicate a change in the executive's confidence in the company.

Industry Context

Insider selling can be interpreted in various ways by the market. It's important to consider the context of the 10b5-1 trading plan, which allows insiders to sell shares at predetermined times to avoid accusations of trading on non-public information. The market will likely assess the impact of these sales in conjunction with Ares Management Corp's overall performance and industry trends.

Stakeholder Impact

• The share sales could have a minor impact on shareholders, potentially creating downward pressure on the stock price in the short term.
• However, the existence of a 10b5-1 plan suggests the sales are routine and pre-planned, mitigating potential concerns.

Key Dates