Ares Management Corp's Form 4 filing
AZEK Co Inc. (AZEK) · filed May 18, 2023
- Accession no.
- 0001104659-23-062347
- Filed
- May 18, 2023, 7:04 PM ET
- Trade date
- May 16, 2023
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Not checked
This filing lists 1 non-derivative transaction. Open-market sales total $170.5M. It was filed 2 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Ares Management CorpCIK 0001176948 | Director |
| Ares Management LLCCIK 0001259313 | Director |
| Ares Management Holdings L.P.CIK 0001536937 | Director |
| Ares Corporate Opportunities Fund IV, L.P.CIK 0001543148 | Director |
| Ares Partners Holdco LLCCIK 0001620263 | Director |
| Ares Management GP LLCCIK 0001620264 | Director |
| ACOF Operating Manager IV, LLCCIK 0001620272 | Director |
| Ares Holdco LLCCIK 0001669983 | Director |
| Ares Voting LLCCIK 0001761656 | Director |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| May 16, 2023 | Class A Common Stock | SSaleDisposed | −7,000,000 | $24.36 | −$170,520,000 | 7,326,090 | Direct |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
No transaction price on this filing refers to a footnote.
Remarks
For so long as ACOF IV owns more than 5% of the outstanding shares of Class A Common Stock, ACOF IV has the right to nominate directors for election to the board of directors of the Issuer pursuant to a stockholders agreement, dated June 11, 2020, by and among the Issuer, ACOF IV and the Ontario Teachers' Pension Plan Board ("OTPP"). ACOF IV previously nominated two directors to the Issuer's board of directors (the "Board"), one of whom is jointly appointed by ACOF IV and OTPP. As a result of the Offering, ACOF IV will no longer hold more than 5% of the outstanding shares of Class A Common Stock and will therefore no longer be entitled to nominate directors of the Board. ACOF IV's current director nominees will continue in their respective positions until their successors are duly elected. Accordingly, ACOF IV and each of its affiliates listed hereon may be deemed to be a director by deputization until such time.