Michael J. Arougheti - Mar 18, 2024 Form 4 Insider Report for Ares Management Corp (ARES)

Signature
/s/ Naseem Sagati Aghili, by power of attorney
Stock symbol
ARES
Transactions as of
Mar 18, 2024
Transactions value $
-$5,204,475
Form type
4
Date filed
3/19/2024, 09:49 PM
Previous filing
Mar 18, 2024
Next filing
Mar 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARES Class A Common Stock Sale -$989K -7.6K -5.6% $130.14 128K Mar 18, 2024 By Atticus Enterprises LLC F1, F2
transaction ARES Class A Common Stock Sale -$1.71M -13K -10.16% $131.12 115K Mar 18, 2024 By Atticus Enterprises LLC F1, F3
transaction ARES Class A Common Stock Sale -$178K -1.35K -1.17% $131.77 114K Mar 18, 2024 By Atticus Enterprises LLC F1, F4
transaction ARES Class A Common Stock Sale -$29K -218 -0.19% $132.81 114K Mar 18, 2024 By Atticus Enterprises LLC F1, F5
transaction ARES Class A Common Stock Sale -$201K -1.54K -1.36% $130.10 112K Mar 19, 2024 By Atticus Enterprises LLC F1, F6
transaction ARES Class A Common Stock Sale -$465K -3.55K -3.16% $130.97 109K Mar 19, 2024 By Atticus Enterprises LLC F1, F7
transaction ARES Class A Common Stock Sale -$1.53M -11.6K -10.67% $132.05 96.9K Mar 19, 2024 By Atticus Enterprises LLC F1, F8
transaction ARES Class A Common Stock Sale -$106K -800 -0.83% $132.71 96.1K Mar 19, 2024 By Atticus Enterprises LLC F1, F9
holding ARES Class A Common Stock 1.38M Mar 18, 2024 Direct F10
* 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 14, 2023 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 March 18, 2024 in multiple transactions at prices ranging from $129.58 to $130.57. 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 and footnotes 3, 4, 5, 6, 7, 8 and 9.
F3 The price reported in Column 4 is a weighted average price. These shares were sold on March 18, 2024 in multiple transactions at prices ranging from $130.59 to $131.58.
F4 The price reported in Column 4 is a weighted average price. These shares were sold on March 18, 2024 in multiple transactions at prices ranging from $131.59 to $132.46.
F5 The price reported in Column 4 is a weighted average price. These shares were sold on March 18, 2024 in multiple transactions at prices ranging from $132.76 to $132.88.
F6 The price reported in Column 4 is a weighted average price. These shares were sold on March 19, 2024 in multiple transactions at prices ranging from $129.51 to $130.49.
F7 The price reported in Column 4 is a weighted average price. These shares were sold on March 19, 2024 in multiple transactions at prices ranging from $130.51 to $131.49.
F8 The price reported in Column 4 is a weighted average price. These shares were sold on March 19, 2024 in multiple transactions at prices ranging from $131.52 to $132.45.
F9 The price reported in Column 4 is a weighted average price. These shares were sold on March 19, 2024 in multiple transactions at prices ranging from $132.52 to $132.87.
F10 Represents 1,375,000 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.