Rosenthal Bennett's Form 4 filing
Ares Management Corp (ARES) · filed Aug 17, 2023
- Accession no.
- 0001628280-23-029916
- Filed
- Aug 17, 2023
- Trade date
- Aug 15-16, 2023
- Filing delay
- 2 days
- Rule 10b5-1 plan
- Checked
This filing lists 6 non-derivative transactions and 1 derivative transaction. Open-market sales total $24.6M. 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 |
|---|---|
| Rosenthal BennettCIK 0001304465 | Director, Officer (Co-Founder & Chairman of PEG) |
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 |
|---|---|---|---|---|---|---|---|---|
| Aug 15, 2023 | Class A Common Stock | CConversionAcquired | +500,000 | $0.00 | $0 | 500,000 | Indirect | Duplicate filing |
| Aug 15, 2023 | Class A Common Stock | SSaleDisposed | −109,063 | $97.78F2 | −$10,664,180.14 | 390,937 | Indirect | |
| Aug 15, 2023 | Class A Common Stock | SSaleDisposed | −54,994 | $98.83F3 | −$5,435,057.02 | 335,943 | Indirect | |
| Aug 15, 2023 | Class A Common Stock | SSaleDisposed | −37,861 | $99.92F4 | −$3,783,071.12 | 298,082 | Indirect | |
| Aug 15, 2023 | Class A Common Stock | SSaleDisposed | −571 | $100.41F5 | −$57,334.11 | 297,511 | Indirect | |
| Aug 16, 2023 | Class A Common Stock | SSaleDisposed | −47,511 | $97.51F6 | −$4,632,797.61 | 250,000 | Indirect |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Aug 15, 2023 | Class A Common Stock | CConversionDisposed | −500,000 | –F8 | – | 9,421,596 | Indirect | Duplicate filing |
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.
- F2
The price reported in Column 4 is a weighted average price. These shares were sold on August 15, 2023 in multiple transactions at prices ranging from $97.29 to $98.28. 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 footnotes 3, 4, 5 and 6.
Referenced by the price of 1 transaction in Table I.
- F3
The price reported in Column 4 is a weighted average price. These shares were sold on August 15, 2023 in multiple transactions at prices ranging from $98.29 to $99.28.
Referenced by the price of 1 transaction in Table I.
- F4
The price reported in Column 4 is a weighted average price. These shares were sold on August 15, 2023 in multiple transactions at prices ranging from $99.31 to $100.28.
Referenced by the price of 1 transaction in Table I.
- F5
The price reported in Column 4 is a weighted average price. These shares were sold on August 15, 2023 in multiple transactions at prices ranging from $100.31 to $100.59.
Referenced by the price of 1 transaction in Table I.
- F6
The price reported in Column 4 is a weighted average price. These shares were sold on August 16, 2023 in multiple transactions at prices ranging from $97.14 to $97.85.
Referenced by the price of 1 transaction in Table I.
- F8
Pursuant to the terms of the Fifth Amended and Restated Exchange Agreement, dated as of April 1, 2021, among Ares Management Corporation, Ares Holdings L.P. and each Ares Operating Group Limited Partner (as defined in the exchange agreement), and subject to certain requirements and restrictions, the partnership units of the Ares Operating Group ("AOG Units") are exchangeable for shares of Class A Common Stock on a one-for-one basis.
Referenced by the price of 1 transaction in Table II.