Ares Management Llc bought $2,838,930 worth of shares (150,000 units at $18.93) (SEC Form 4)

10/20/23 6:25:04 PM ET

$FYBR

Telecommunications Equipment

Telecommunications

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SEC FORM 4 SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ARES MANAGEMENT LLC

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS

12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Frontier Communications Parent, Inc. [ FYBR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/18/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.01	10/18/2023		P		150,000	A	$18.9262	38,912,895⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾⁽⁵⁾⁽⁶⁾⁽⁷⁾⁽⁸⁾⁽⁹⁾⁽¹⁰⁾⁽¹¹⁾⁽¹²⁾	I	See Footnotes⁽¹⁾⁽²⁾⁽³⁾⁽⁴⁾⁽⁵⁾⁽⁶⁾⁽⁷⁾⁽⁸⁾⁽⁹⁾⁽¹⁰⁾⁽¹¹⁾⁽¹²⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

1. Name and Address of Reporting Person^*

ARES MANAGEMENT LLC

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS

12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ACOF VI Frontier AIV A10, L.P.

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS

12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ACOF VI Frontier AIV B1, L.P.

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS, 12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ASOF Frontier AIV A1, L.P.

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS

12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ASOF Frontier AIV A2, L.P.

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS, 12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ASOF Frontier AIV A3, L.P.

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS, 12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ASOF Frontier AIV A4, L.P.

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS, 12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ASOF Frontier AIV A5, L.P.

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS, 12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ASOF Frontier AIV A6, L.P.

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS, 12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

ASOF Frontier AIV A7, L.P.

(Last)

(First)

(Middle)

2000 AVENUE OF THE STARS, 12TH FLOOR

(Street)

LOS ANGELES

90067

(City)

(State)

(Zip)

Explanation of Responses:

1. This statement is being filed by ACOF VI Frontier AIV A1, L.P. ("ACOF VI Frontier AIV A1"), ACOF VI Frontier AIV A2, L.P. ("ACOF VI Frontier AIV A2"), ACOF VI Frontier AIV A3, L.P. ("ACOF VI Frontier AIV A3"), ACOF VI Frontier AIV A4, L.P. ("ACOF VI Frontier AIV A4"), ACOF VI Frontier AIV A5, L.P. ("ACOF VI Frontier AIV A5"), ACOF VI Frontier AIV A6, L.P. ("ACOF VI Frontier AIV A6"), ACOF VI Frontier AIV A7, L.P. ("ACOF VI Frontier AIV A7"), ACOF VI Frontier AIV A8, L.P. ("ACOF VI Frontier AIV A8"), ACOF VI Frontier AIV A9, L.P. ("ACOF VI Frontier AIV A9"), ACOF VI Frontier AIV A10, L.P. ("ACOF VI Frontier AIV A10"), and ACOF VI Frontier AIV B1, L.P. ("ACOF VI Frontier AIV B1", together with the foregoing entities, the "ACOF Funds"), (continued in next footnote)

2. ASOF Frontier AIV A1, L.P. ("ASOF Frontier AIV A1"), ASOF Frontier AIV A2, L.P. ("ASOF Frontier AIV A2"), ASOF Frontier AIV A3, L.P. ("ASOF Frontier AIV A3"), ASOF Frontier AIV A4, L.P. ("ASOF Frontier AIV A4"), ASOF Frontier AIV A5, L.P. ("ASOF Frontier AIV A5"), ASOF Frontier AIV A6, L.P. ("ASOF Frontier AIV A6"), ASOF Frontier AIV A7, L.P. ("ASOF Frontier AIV A7"), ASOF Frontier AIV A8, L.P. ("ASOF Frontier AIV A8"), ASOF Frontier AIV A9, L.P. ("ASOF Frontier AIV A9"), ASOF Frontier AIV A10, L.P. ("ASOF Frontier AIV A10"), ASOF Frontier AIV A11, L.P. ("ASOF Frontier AIV A11"), ASOF Frontier AIV B1, L.P. ("ASOF Frontier AIV B1"), (continued in next footnote)

3. ASOF II Frontier Holdings 1 L.P. ("ASOF II Frontier Holdings 1"), ASOF II Frontier Holdings 2 L.P. ("ASOF II Frontier Holdings 2"), ASOF II Frontier Holdings 3 L.P. ("ASOF II Frontier Holdings 3"), ASOF II Frontier Holdings 4 L.P. ("ASOF II Frontier Holdings 4"), ASOF II Frontier Holdings 5 L.P. ("ASOF II Frontier Holdings 5"), ASOF II Frontier Holdings 6 L.P. ("ASOF II Frontier Holdings 6"), (continued in next footnote)

4. ASOF II Frontier Holdings 7 L.P. ("ASOF II Frontier Holdings 7"), ASOF II A (DE) Frontier Holdings 1 L.P. ("ASOF II A (DE) Frontier Holdings 1") and ASOF II A (DE) Frontier Holdings 2 L.P. ("ASOF II A (DE) Frontier Holdings 2", and together with ASOF Frontier AIV A1, ASOF Frontier AIV A2, ASOF Frontier AIV A3, ASOF Frontier AIV A4, ASOF Frontier AIV A5, ASOF Frontier AIV A6, ASOF Frontier AIV A7, ASOF Frontier AIV A8, ASOF Frontier AIV A9, ASOF Frontier AIV A10, and ASOF Frontier AIV A11, ASOF II Frontier Holdings 1, ASOF II Frontier Holdings 2, ASOF II Frontier Holdings 3, ASOF II Frontier Holdings 4, ASOF II Frontier Holdings 5, ASOF II Frontier Holdings 6, ASOF II Frontier Holdings 7 and ASOF II A (DE) Frontier Holdings 1, the "ASOF Funds"), (continued in next footnote)

5. ASSF IV AIV B Holdings III, L.P. ("ASSF IV AIV B Holdings III"), ASSF IV AIV B, L.P. ("ASSF IV AIV B", and together with ASSF IV AIV B Holdings III, the "ASSF Funds"), ACOF Investment Management LLC ("ACOF Investment Management"), ASOF Investment Management LLC ("ASOF Investment Management"), ASSF Operating Manager IV, L.P. ("ASSF Operating Manager IV"), (continued in next footnote)

6. Ares Management LLC, Ares Management Holdings L.P. ("Ares Management Holdings"), Ares Holdco LLC ("Ares Holdco"), Ares Management Corporation ("Ares Management"), Ares Management GP LLC ("Ares Management GP"), Ares Voting LLC ("Ares Voting") and Ares Partners Holdco LLC ("Ares Partners", and together with the ACOF Funds, the ASOF Funds, the ASSF Funds, ACOF Investment Management, ASOF Investment Management, ASSF Operating Manager IV, Ares Management LLC, Ares Management Holdings, Ares Holdco, Ares Management, Ares Management GP, and Ares Voting, the "Reporting Persons"). Due to the electronic system's limitation of 10 Reporting Persons per joint filing, this statement is being filed in five parts.

7. The Reporting Persons collectively beneficially own, or may be deemed to beneficially own, in the aggregate 38,912,895 shares of Common Stock by reason of the direct or indirect beneficial ownership of such shares as follows: (i) ACOF VI Frontier AIV A1 owns 258,196 shares of Common Stock; (ii) ACOF VI Frontier AIV A2 owns 92,590 shares of Common Stock; (iii) ACOF VI Frontier AIV A3 owns 21,604 shares of Common Stock; (iv) ACOF VI Frontier AIV A4 owns 280,859 shares of Common Stock; (v) ACOF VI Frontier AIV A5 owns 308,635 shares of Common Stock; (vi) ACOF VI Frontier AIV A6 owns 172,837 shares of Common Stock; (vii) ACOF VI Frontier AIV A7 owns 312,782 shares of Common Stock; (viii) ACOF VI Frontier AIV A8 owns 314,191 shares of Common Stock; (ix) ACOF VI Frontier AIV A9 owns 295,057 shares of Common Stock; (x) ACOF VI Frontier AIV A10 owns 93,301 shares of Common Stock; (xi) ACOF VI Frontier AIV B1 owns 15,574,332 shares of Common Stock; (continued in next footnote)

8. (xii) ASOF Frontier AIV A1 owns 105,592 shares of Common Stock; (xiii) ASOF Frontier AIV A2 owns 18,032 shares of Common Stock; (xiv) ASOF Frontier AIV A3 owns 830,837 shares of Common Stock; (xv) ASOF Frontier AIV A4 owns 281,844 shares of Common Stock; (xvi) ASOF Frontier AIV A5 owns 167,160 shares of Common Stock; (xvii) ASOF Frontier AIV A6 owns 292,124 shares of Common Stock; (xviii) ASOF Frontier AIV A7 owns 289,417 shares of Common Stock; (xix) ASOF Frontier AIV A8 owns 238,026 shares of Common Stock; (xx) ASOF Frontier AIV A9 owns 360,644 shares of Common Stock; (xxi) ASOF Frontier AIV A10 owns 259,665 shares of Common Stock; (xxii) ASOF Frontier AIV A11 owns 245,236 shares of Common Stock; (xxiii) ASOF Frontier AIV B1 owns 9,597,579 shares of Common Stock; (continued in next footnote)

9. (xxiv) ASOF II Frontier Holdings 1 owns 2,003,418 shares of Common Stock, (xxv) ASOF II Frontier Holdings 2 owns 96,560 shares of Common Stock, (xxvi) ASOF II Frontier Holdings 3 owns 107,553 shares of Common Stock, (xxvii) ASOF II Frontier Holdings 4 owns 104,240 shares of Common Stock, (xxviii) ASOF II Frontier Holdings 5 owns 103,240 shares of Common Stock, (xxix) ASOF II Frontier Holdings 6 owns 109,407 shares of Common Stock, (xxx) ASOF II Frontier Holdings 7 owns 109,675 shares of Common Stock, (xxxi) ASOF II A (DE) Frontier Holdings 1 owns 479,922 shares of Common Stock; (xxxii) ASOF II A (DE) Frontier Holdings 2 owns 17,664 shares of Common Stock; (xxxiii) ASSF IV AIV B Holdings III owns 2,694,243 shares of Common Stock and (xxxiv) ASSF IV AIV B directly or indirectly owns 5,348,289 shares of Common Stock.

10. Ares Partners is the sole member of each of Ares Voting and Ares Management GP, which are respectively the holders of the Class B and Class C common stock of Ares Management, which common stock allows them, collectively, to generally have the majority of the votes on any matter submitted to the stockholders of Ares Management if certain conditions are met. Ares Management is the sole member of Ares Holdco, which is the general partner of Ares Management Holdings, which is the sole member of Ares Management LLC, which is: (a) the sole member of ACOF Investment Management, which is the manager of the ACOF Funds, (b) the sole member of ASOF Investment Management, which is the manager of the ASOF Funds, and (c) the general partner of ASSF Operating Manager IV, which is the manager of the ASSF Funds.

11. Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, Ryan Berry, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (collectively, the "Board Members"). Mr. Ressler generally has veto authority over Board Members' decisions.

12. Each of the Reporting Persons, and the Board Members, and the other directors, officers, partners, stockholders, members and managers of the Reporting Persons, expressly disclaims beneficial ownership of the Common Stock, except to the extent of any pecuniary interest therein, and this Form 4 shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purposes.

	ARES MANAGEMENT LLC /s/ Naseem Sagati Aghili By: Naseem Sagati Aghili Its: Authorized Signatory	10/20/2023
	ACOF VI Frontier AIV A10, L.P. By: ACOF Investment Management LLC, its manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory	10/20/2023
	ACOF VI Frontier AIV B1, L.P. By: ACOF Investment Management LLC, its manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory	10/20/2023
	ASOF Frontier AIV A1, L.P. By: ASOF Investment Management LLC, its manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory	10/20/2023
	ASOF Frontier AIV A2, L.P. By: ASOF Investment Management LLC, its manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory	10/20/2023
	ASOF Frontier AIV A3, L.P. By: ASOF Investment Management LLC, its manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory	10/20/2023
	ASOF Frontier AIV A4, L.P. By: ASOF Investment Management LLC, its manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory	10/20/2023
	ASOF Frontier AIV A5, L.P. By: ASOF Investment Management LLC, its manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory	10/20/2023
	ASOF Frontier AIV A6, L.P. By: ASOF Investment Management LLC, its manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory	10/20/2023
	ASOF Frontier AIV A7, L.P. By: ASOF Investment Management LLC, its manager /s/ Evan Hoole By: Evan Hoole Its: Authorized Signatory	10/20/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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Date	Price Target	Rating	Analyst
2/6/2025		Mkt Perform → Underperform	Raymond James
12/6/2024		Buy → Hold	The Benchmark Company
10/28/2024		Strong Buy → Mkt Perform	Raymond James
10/8/2024		Buy → Hold	TD Cowen
9/30/2024		Outperform → Peer Perform	Wolfe Research
9/17/2024	$35.00 → $38.50	Overweight → Neutral	JP Morgan
7/18/2024	$33.00	Buy	UBS
7/1/2024	$29.00	Buy	Goldman

Ares Management Llc bought $2,838,930 worth of shares (150,000 units at $18.93) (SEC Form 4)

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