Michael J. Arougheti - Nov 24, 2025 Form 4 Insider Report for Ares Management Corp (ARES)

Role
Co-Founder and CEO, Director
Signature
/s/ Anton Feingold, by power of attorney
Stock symbol
ARES
Transactions as of
Nov 24, 2025
Transactions value $
-$45,380,330
Form type
4
Date filed
11/25/2025, 09:15 PM
Previous filing
Nov 18, 2025
Next filing
Dec 1, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Arougheti Michael J Co-Founder and CEO, Director 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES /s/ Anton Feingold, by power of attorney 2025-11-25 0001304471

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARES Class A Common Stock Sale -$16.9M -113K -19.12% $150.15 477K Nov 24, 2025 By Atticus Enterprises LLC F1, F2
transaction ARES Class A Common Stock Sale -$875K -5.81K -1.22% $150.53 471K Nov 25, 2025 By Atticus Enterprises LLC F1, F3
transaction ARES Class A Common Stock Sale -$2.23M -14.7K -3.12% $151.66 457K Nov 25, 2025 By Atticus Enterprises LLC F1, F4
transaction ARES Class A Common Stock Sale -$17.9M -117K -25.61% $152.78 340K Nov 25, 2025 By Atticus Enterprises LLC F1, F5
transaction ARES Class A Common Stock Sale -$7.47M -48.8K -14.35% $153.29 291K Nov 25, 2025 By Atticus Enterprises LLC F1, F6
holding ARES Class A Common Stock 1.4M Nov 24, 2025 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.
F2 The price reported in Column 4 is a weighted average price. These shares were sold on November 24, 2025 in multiple transactions at prices ranging from $150.00 to $150.53. 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 ranges set forth in this footnote and footnotes 3, 4, 5 and 6.
F3 The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $150.02 to $150.96.
F4 The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $151.07 to $152.00.
F5 The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $152.07 to $153.06.
F6 The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $153.07 to $153.76.
F7 Represents 1,400,000 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.