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

Ares Management's Chief Marketing and Strategy Officer, Ryan Berry, sold 1,671 shares of Class A Common Stock at an average price of $175 per share, as part of a pre-arranged 10b5-1 trading plan.

Summary

• Ryan Berry, Chief Marketing and Strategy Officer at Ares Management Corp, executed a sale of 1,671 shares of Class A Common Stock.
• The sale was conducted on November 11, 2024, at a weighted average price of $175 per share.
• The transactions were part of a pre-arranged 10b5-1 trading plan adopted on June 6, 2024.
• The shares were sold in multiple transactions with prices ranging from $175.00 to $175.01.
• Following the transaction, Berry directly owns 253,214 shares of Class A Common Stock.
• Berry also has indirect ownership of shares through a retirement savings plan (2,700 shares), a spouse's SEP IRA (7,387 shares), joint tenancy with spouse (293,224 shares), and an IRA (5,003 shares).
• Additionally, Berry holds 201,702 restricted units that will vest over time into Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing related to an executive's stock sale under a pre-arranged plan. It does not indicate any positive or negative sentiment.

Industry Context

This is a routine filing related to insider trading activity. It is common for executives to use 10b5-1 plans to sell shares to avoid accusations of insider trading.

Comparison to Industry Standards

• The use of 10b5-1 trading plans is a common practice among executives at publicly traded companies, including Ares Management's competitors such as Blackstone, Apollo Global Management, and KKR.
• These plans allow executives to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
• The reported sale is consistent with typical executive stock transactions and does not indicate any unusual activity compared to industry peers.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on shareholder sentiment, but the transaction was part of a pre-arranged plan.

Key Dates

Keywords

Ares Management, Ryan Berry, insider trading, Form 4, 10b5-1 plan, Class A Common Stock, executive stock sale