Summary
Ares Management Corporation (ARES) disclosed that R. Kipp deVeer, an executive officer and director, has established a Rule 10b5-1 trading plan to sell up to 300,000 shares of Class A common stock. This plan, effective from June 15, 2021, through November 1, 2022, was adopted for estate planning purposes and was put in place during an authorized trading window and without possession of material non-public information. Trading under the plan will commence no earlier than three business days after the company reports its earnings for the third quarter of 2021. This disclosure provides transparency regarding insider stock transactions, allowing investors to monitor potential selling activity. The company notes that other insiders may also establish similar plans, but it does not intend to report on them individually.
Key Highlights
- 1Executive R. Kipp deVeer establishes a Rule 10b5-1 trading plan to sell up to 300,000 ARES shares.
- 2The trading plan is set to expire on November 1, 2022.
- 3The plan was adopted for estate planning purposes.
- 4Trading under the plan can begin no sooner than three business days after the Q3 2021 earnings report.
- 5The plan was established during an authorized trading period and without material non-public information.
- 6Sales under the plan will be publicly disclosed via Form 144 and Form 4 filings.
- 7ARES will not proactively report on other insiders' Rule 10b5-1 plans.