Form 4: Ares Management Corp Executive Ryan Berry Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Ryan Berry, Chief Marketing & Strategy Officer of Ares Management Corp, sold shares of Class A Common Stock on September 5th and 9th, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- Ryan Berry, Chief Marketing & Strategy Officer of Ares Management Corp, reported the sale of Class A Common Stock.
- The sales occurred on September 5, 2024, and September 9, 2024.
- The transactions were executed under a 10b5-1 trading plan adopted on June 6, 2024.
- On September 5, 2024, Berry sold 26,867 shares at an average price of $140.35, 30,017 shares at an average price of $141.07 and 616 shares at an average price of $141.9.
- On September 9, 2024, Berry sold 10,000 shares at an average price of $142.12.
- Following these transactions, Berry directly owns 446,702 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).
- He also holds 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 stock sales were pre-planned under a 10b5-1 trading plan and do not necessarily reflect a change in the executive's view of the company's prospects.
Industry Context
Executive stock sales are a common occurrence, and the use of 10b5-1 trading plans allows insiders to sell shares over time while avoiding accusations of trading on non-public information. The market typically analyzes these sales in the context of the company's performance and future prospects.
Stakeholder Impact
- The stock sales could have a minor impact on shareholders if they interpret the sales negatively, although the existence of a 10b5-1 plan mitigates this concern.
- The impact on employees, customers, suppliers, and creditors is likely to be negligible.
Key Dates
| Date | Description |
|---|---|
| 06/06/2024 | Date the 10b5-1 trading plan was adopted by the reporting person |
| 09/05/2024 | Date of first reported transaction: sale of Class A Common Stock |
| 09/09/2024 | Date of second reported transaction: sale of Class A Common Stock |
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