R. Kipp deVeer - Jan 31, 2024 Form 4 Insider Report for Ares Management Corp (ARES)

Role
Head of Credit Group, Director
Signature
/s/ Naseem Sagati Aghili, by power of attorney
Stock symbol
ARES
Transactions as of
Jan 31, 2024
Transactions value $
-$9,935,849
Form type
4
Date filed
2/2/2024, 09:13 PM
Previous filing
Sep 11, 2023
Next filing
Feb 16, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARES Class A Common Stock Award $0 +400K +49.36% $0.00 1.21M Jan 31, 2024 Direct F1, F2
transaction ARES Class A Common Stock Award $0 +200K +16.52% $0.00 1.41M Jan 31, 2024 Direct F3, F4
transaction ARES Class A Common Stock Tax liability -$9.94M -81.8K -5.8% $121.48 1.33M Jan 31, 2024 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Granted under an equity incentive plan of Ares Management Corporation. In exchange for such restricted units, the reporting person has agreed to reductions in certain incentive fee payments. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on June 30, 2026, 2027, 2028 and 2029. The shares of Class A Common Stock issued upon such vesting will be subject to certain lock-up restrictions.
F2 Includes (i) the 400,000 restricted units reported in footnote one herein and (ii) 625,000 previously granted and reported 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.
F3 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 restrictions on such units are scheduled to lapse in four equal installments on January 31, 2026, 2027, 2028 and 2029.
F4 Includes (i) the 400,000 restricted units reported in footnote one herein, (ii) the 200,000 restricted units reported in footnote three herein and (iii) 625,000 previously granted and reported 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.
F5 Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of previously granted and reported restricted units representing the right to receive one share of Class A Common Stock 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.
F6 Includes (i) the 400,000 restricted units reported in footnote one herein, (ii) the 200,000 restricted units reported in footnote three herein and (iii) 475,000 previously granted and reported 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.