Form 4: Ares Management Sells 11.5 Million Shares of Frontier Communications

Ares Management LLC and related entities sold 11.5 million shares of Frontier Communications at $34.37 per share, reducing their total holdings to 23,922,768 shares.

Summary

• Ares Management LLC and several related entities have reported the sale of 11,500,000 shares of Frontier Communications common stock.
• The sale occurred on December 10, 2024, at a price of $34.37 per share.
• Following this transaction, the reporting entities collectively hold 23,922,768 shares of Frontier Communications.
• The shares are held indirectly through various investment funds and holding companies managed by Ares Management.
• The reporting entities include Ares Management LLC, ACOF Investment Management LLC, ASOF Investment Management LLC, ASSF Operating Manager IV, L.P., Ares Management Holdings L.P., Ares Holdco LLC, Ares Management Corp, Ares Management GP LLC, Ares Voting LLC, and Ares Partners Holdco LLC.

Sentiment

Score: 5

Explanation: The document is a neutral report of a stock sale, with no inherent positive or negative sentiment. It is a factual disclosure of a transaction.

Industry Context

This transaction reflects a significant change in the holdings of a major institutional investor in Frontier Communications, which could influence market perception of the company's stock.

Comparison to Industry Standards

• Large institutional investors like Ares Management often adjust their holdings based on their investment strategies and market conditions.
• Sales of this magnitude can be compared to similar transactions by other large shareholders in the telecommunications sector, such as BlackRock or Vanguard, to gauge market sentiment and potential impact on stock prices.
• The price of $34.37 per share can be compared to the average trading price of Frontier Communications stock over the past few weeks to assess if the sale was executed at a premium or discount.

Stakeholder Impact

• The sale of a large block of shares by Ares Management could potentially impact the share price of Frontier Communications.
• Shareholders may react to this news, potentially leading to increased trading volume and price volatility.

Key Dates

Keywords

Ares Management, Frontier Communications, share sale, SEC Form 4, beneficial ownership, investment funds, stock transaction