Form 4: Ares Management Executive Ryan Berry Sells 20,000 Shares Under 10b5-1 Plan

Ryan Berry, Chief Marketing & Strategy Officer of Ares Management Corp, sold 20,000 shares of Class A Common Stock at an average price of $160.07 on October 4, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Ryan Berry, Chief Marketing & Strategy Officer at Ares Management Corp, reported a transaction involving the sale of company stock.
• On October 4, 2024, Berry sold 20,000 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $160.07 per share, with individual transactions ranging from $160.00 to $160.25.
• The transaction was conducted under a pre-arranged 10b5-1 trading plan adopted on June 6, 2024.
• Following the transaction, Berry directly owns 344,202 shares of Class A Common Stock, including 264,202 restricted units that vest over time.
• Berry also indirectly owns shares through a Retirement Savings Plan (2,700 shares), a Spouse's SEP IRA (7,387 shares), jointly with a spouse (293,224 shares), and through an IRA (5,003 shares).

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

Sales by executives are a normal part of corporate governance. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on any inside information at the time of the transaction.

Comparison to Industry Standards

• Executive stock sales are common and are often conducted under 10b5-1 plans to avoid accusations of insider trading.
• Comparable companies such as Blackstone, Apollo Global Management, and KKR also see regular stock transactions by their executives.
• The size of the sale (20,000 shares) is relatively small compared to the total holdings of the reporting person.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, but the use of a 10b5-1 plan suggests it was pre-planned and not based on any material non-public information.
• The transaction does not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates