R. Kipp deVeer - 15 Aug 2024 Form 4 Insider Report for Ares Management Corp (ARES)

Role
Head of Credit Group, Director
Signature
/s/ Anton Feingold, by power of attorney
Issuer symbol
ARES
Transactions as of
15 Aug 2024
Transactions value $
$0
Form type
4
Date filed
19 Aug 2024, 21:39
Previous filing
23 Jul 2024
Next filing
10 Dec 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARES Class A Common Stock Conversion of derivative security $0 +300K +27.91% $0.00 1.38M 15 Aug 2024 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ARES Ares Operating Group Units Conversion of derivative security -300K -19.86% 1.21M 15 Aug 2024 Class A Common Stock 300K By Ares Owners Holdings L.P. F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 1,075,000 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.
F2 Pursuant to the terms of the Fifth Amended and Restated Exchange Agreement (the "Exchange Agreement"), dated as of April 1, 2021, among Ares Management Corporation, Ares Holdings L.P. and each Ares Operating Group Limited Partner (as defined in the Exchange Agreement), and subject to certain requirements and restrictions, the partnership units of the Ares Operating Group ("AOG Units") are exchangeable for shares of Class A Common Stock on a one-for-one basis.
F3 The reporting person or a vehicle controlled by him is a limited partner in Ares Owners Holdings L.P. ("AOH"), the direct holder of the shares of AOG Units. The AOG Units indirectly held by the reporting person are the number of AOG Units that he has a right to receive as a limited partner in AOH.