Form 4: Ares Management Corp Executive Chairman Antony P. Ressler Sells Shares Under 10b5-1 Trading Plan

Antony P. Ressler, Co-Founder and Executive Chairman of Ares Management Corp, executed multiple sales of Class A Common Stock on April 1st and 2nd, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Antony P. Ressler, the Co-Founder and Executive Chairman of Ares Management Corp, sold shares of Class A Common Stock on April 1st and 2nd, 2024.
• The sales were executed under a 10b5-1 trading plan adopted on December 15, 2023.
• On April 1st, 2024, Ressler sold 5,005 shares at an average price of $130.83, 20,578 shares at an average price of $131.71 and 8,359 shares at an average price of $132.37.
• On April 2nd, 2024, Ressler sold 15,874 shares at an average price of $128.97, 16,105 shares at an average price of $129.66 and 18,738 shares at an average price of $130.61.
• The sales were conducted in multiple transactions within specified price ranges, and Ressler has committed to providing full information on the number of shares sold at each separate price upon request.
• Some of the shares sold were previously reported as indirectly held through Ares Owners Holdings L.P. (AOH) and were transferred to Ressler or a vehicle controlled by him prior to the sale.
• After the reported transactions, Ressler continues to indirectly own 7,598,654 shares through Ares Owners Holdings L.P.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports transactions under a pre-existing trading plan. There is no indication of positive or negative implications for the company.

Industry Context

Insider sales are a common occurrence, especially among executives of publicly traded companies. The use of a 10b5-1 trading plan allows insiders to sell shares over a predetermined period, mitigating concerns about trading on non-public information. The market will often scrutinize the reasons behind such sales, but pre-planned sales are generally viewed as less impactful than discretionary sales.

Stakeholder Impact

• The sale of shares by a high-profile executive could create short-term uncertainty among shareholders.
• However, the existence of a 10b5-1 trading plan mitigates concerns about insider information being used for personal gain.

Key Dates