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

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

Summary

• Ryan Berry, Chief Marketing & Strategy Officer at Ares Management Corp, reported the sale of Class A Common Stock on October 17, 2024.
• The sales were executed under a 10b5-1 trading plan adopted on June 6, 2024.
• A total of 40,000 shares were sold in multiple transactions at weighted average prices of $165.59, $166.38, and $170.06.
• Following the reported transactions, Berry directly owns 304,202 shares of Class A Common Stock.
• Berry also indirectly owns shares through a Retirement Savings Plan, Spouse's SEP IRA, joint tenancy with spouse, and an IRA.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting an executive's stock sales under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales by executives are a normal part of corporate governance, especially when executed under pre-arranged trading plans like 10b5-1 plans, which allow insiders to sell shares at predetermined times to avoid accusations of trading on inside information.

Comparison to Industry Standards

• Executive stock sales are common across publicly traded companies.
• The use of 10b5-1 trading plans is a standard practice to ensure compliance with insider trading regulations.
• Comparing the volume and frequency of Berry's sales to those of executives at similar asset management firms (e.g., Blackstone, Apollo Global Management) would provide further context.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
• However, given the pre-planned nature of the sales under the 10b5-1 plan, the impact is likely to be minimal.

Key Dates