SCHNABEL MICHAEL KORT 4

What Happened
Michael K. Schnabel, CEO of Ares Capital Corporation (ARCC), reported an open-market purchase (code P) totaling 12,500 shares on February 5, 2026. The Form 4 lists a weighted-average price of $19.13 and a total reported value of $239,125 for the aggregate purchase. This is a buy (an outright acquisition), which is generally considered more informative than routine sales.

Key Details

• Transaction date: 2026-02-05 (reported on Form 4 filed 2026-02-09). Filing appears timely (within the standard two business days requirement).
• Shares purchased: 12,500 shares (aggregate).
• Price reported on Form 4: weighted average $19.13; reported aggregate value $239,125.
• Footnote: The filing states the $19.13 figure is a weighted average and that the shares were actually bought in multiple transactions at prices ranging from $20.29 to $20.49. The reporting person offers to provide a breakdown of the number of shares bought at each price on request.
• Shares owned after the transaction: not disclosed in the details provided here (check the full Form 4 for post-transaction holdings).
• Transaction code: P = Purchase (open-market buys in multiple trades).

Context

• Purchases by a CEO are often watched by investors as a potential signal of confidence, but filings are factual records—not explanations of motive.
• The footnote’s price-range vs. the weighted-average price in the form should be noted; investors who need precise per-trade pricing can request the detailed breakdown referenced in the footnote or review the full SEC filing (Accession No. 0001104659-26-012110).