Item 8.01 Other Events
Certain executive officers and directors ofAres Management Corporation (the "Company") or a vehicle controlled by them (each, a "Plan Participant") entered into Rule 10b5-1 Trading Plans to sell shares of the Company's Class A common stock, in each case, subject to any applicable volume limitations.
The table below provides certain information regarding each Plan Participant's Rule 10b5-1 Trading Plan.
Name Plan Date Maximum Shares That May Earliest Sale Plan Expiration Date Be Sold Under The Plan Commencement Date David Kaplan June 13, 2022 500,000 October 17, 2022 April 30, 2023 Bennett Rosenthal June 10, 2022 500,000 October 17, 2022 April 30, 2023 Trading under each of the Rule 10b5-1 Trading Plans may commence no sooner than the earliest sale commencement date set forth above and will end on the earlier of the applicable date set forth above and the date on which all the shares in the plan are sold. Each of the Rule 10b5-1 Trading Plans was entered into for estate planning purposes.
A Rule 10b5-1 Trading Plan is a written document that pre-establishes the amounts, prices and dates of future sales of the Company's Class A common stock.
Each Plan Participant's Rule 10b5-1 Trading Plan was adopted during an authorized trading period and when such Plan Participant was not in possession of material non-public information. The transactions under each Plan Participant's Rule 10b5-1 Trading Plan will be disclosed publicly through Form 144 and Form 4 filings with theSecurities and Exchange Commission .
Other officers, directors, insiders and employees of the Company may from time to time establish stock trading plans under Rule 10b5-1. Except as may be required by law, the Company does not undertake to report on specific Rule 10b5-1 Trading Plans of the Company's officers, directors, insiders or employees. By furnishing the information in this Item 8.01, the Company is making no admission as to the materiality of such information.
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