R. Kipp deVeer - Aug 8, 2023 Form 4 Insider Report for Ares Management Corp (ARES)

Role
Head of Credit Group, Director
Signature
/s/ Anton Feingold, by power of attorney
Stock symbol
ARES
Transactions as of
Aug 8, 2023
Transactions value $
-$20,025,557
Form type
4
Date filed
8/10/2023, 07:29 PM
Previous filing
Apr 24, 2023
Next filing
Aug 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARES Class A Common Stock Sale -$3.32M -33.5K -3.15% $99.37 1.03M Aug 8, 2023 Direct F1, F2, F3
transaction ARES Class A Common Stock Sale -$16.7M -167K -16.2% $100.28 861K Aug 8, 2023 Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a 10b5-1 trading plan adopted on May 8, 2023 by the reporting person.
F2 The price reported in Column 4 is a weighted average price. These shares were sold on August 8, 2023 in multiple transactions at prices ranging from $98.94 to $99.93. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote and footnote 4.
F3 Includes 625,000 restricted units granted under the Ares Management Corporation 2023 Equity Incentive Plan. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.
F4 The price reported in Column 4 is a weighted average price. These shares were sold on August 8, 2023 in multiple transactions at prices ranging from $99.94 to $100.74.