Judy D. Olian - May 23, 2023 Form 4 Insider Report for Ares Management Corp (ARES)

Role: Director
Signature: /s/ Naseem Sagati Aghili, by power of attorney
Stock symbol: ARES
Transactions as of: May 23, 2023
Transactions value $: -$102,708
Form type: 4
Date filed: 5/25/2023, 09:39 PM
Previous filing: May 17, 2023
Next filing: Jul 7, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ARES	Class A Common Stock	Sale	-$103K	-1.2K	-3.97%	$85.59	29K	May 23, 2023	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were sold on May 23, 2023 in multiple transactions at prices ranging from $85.56 to $85.61. 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 range set forth in this footnote.
F2	Includes 5,137 restricted units granted under the Third Amended and Restated 2014 Equity Incentive Plan. 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.

Content

The price reported in Column 4 is a weighted average price. These shares were sold on May 23, 2023 in multiple transactions at prices ranging from $85.56 to $85.61. 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 range set forth in this footnote.

Includes 5,137 restricted units granted under the Third Amended and Restated 2014 Equity Incentive Plan. 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.