Michael J. Arougheti - 15 May 2025 Form 4 Insider Report for Ares Management Corp (ARES)

Role
Co-Founder and CEO, Director
Signature
/s/ Naseem Sagati Aghili, by power of attorney
Issuer symbol
ARES
Transactions as of
15 May 2025
Net transactions value
-$56,406,351
Form type
4
Filing time
19 May 2025, 20:17:45 UTC
Previous filing
26 Mar 2025
Next filing
22 May 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/ Naseem Sagati Aghili, by power of attorney 19 May 2025 0001304471

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 +590,000 $0.000000 590,000 15 May 2025 By Atticus Enterprises LLC
transaction ARES Class A Common Stock Sale $4,059,840 -24,084 -4.1% $168.57 565,916 15 May 2025 By Atticus Enterprises LLC F1, F2
transaction ARES Class A Common Stock Sale $2,235,701 -13,169 -2.3% $169.77 552,747 15 May 2025 By Atticus Enterprises LLC F1, F3
transaction ARES Class A Common Stock Sale $3,068,583 -18,006 -3.3% $170.42 534,741 15 May 2025 By Atticus Enterprises LLC F1, F4
transaction ARES Class A Common Stock Sale $223,080 -1,300 -0.24% $171.60 533,441 15 May 2025 By Atticus Enterprises LLC F1, F5
transaction ARES Class A Common Stock Sale $112,381 -649 -0.12% $173.16 532,792 15 May 2025 By Atticus Enterprises LLC F1, F6
transaction ARES Class A Common Stock Sale $1,709,706 -10,119 -1.9% $168.96 522,673 16 May 2025 By Atticus Enterprises LLC F1, F7
transaction ARES Class A Common Stock Sale $16,154,226 -95,064 -18% $169.93 427,609 16 May 2025 By Atticus Enterprises LLC F1, F8
transaction ARES Class A Common Stock Sale $13,107,251 -76,925 -18% $170.39 350,684 16 May 2025 By Atticus Enterprises LLC F1, F9
transaction ARES Class A Common Stock Sale $467,704 -2,806 -0.8% $166.68 347,878 19 May 2025 By Atticus Enterprises LLC F1, F10
transaction ARES Class A Common Stock Sale $234,654 -1,400 -0.4% $167.61 346,478 19 May 2025 By Atticus Enterprises LLC F1, F11
transaction ARES Class A Common Stock Sale $12,461,849 -73,813 -21% $168.83 272,665 19 May 2025 By Atticus Enterprises LLC F1, F12
transaction ARES Class A Common Stock Sale $2,571,377 -15,165 -5.6% $169.56 257,500 19 May 2025 By Atticus Enterprises LLC F1, F13
holding ARES Class A Common Stock 1,400,000 15 May 2025 Direct F14

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 -590,000 -6.5% 8,431,596 15 May 2025 Class A Common Stock 590,000 By Ares Owners Holdings L.P. F15, F16
* 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 May 15, 2025 in multiple transactions at prices ranging from $168.10 to $169.09. 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, 6, 7, 8, 9, 10, 11, 12 and 13.
F3 The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $169.10 to $170.09.
F4 The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $170.10 to $170.96.
F5 The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $171.21 to $171.93.
F6 The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $173.12 to $173.21.
F7 The price reported in Column 4 is a weighted average price. These shares were sold on May 16, 2025 in multiple transactions at prices ranging from $168.18 to $169.17.
F8 The price reported in Column 4 is a weighted average price. These shares were sold on May 16, 2025 in multiple transactions at prices ranging from $169.19 to $170.18.
F9 The price reported in Column 4 is a weighted average price. These shares were sold on May 16, 2025 in multiple transactions at prices ranging from $170.19 to $170.87.
F10 The price reported in Column 4 is a weighted average price. These shares were sold on May 19, 2025 in multiple transactions at prices ranging from $165.99 to $166.81.
F11 The price reported in Column 4 is a weighted average price. These shares were sold on May 19, 2025 in multiple transactions at prices ranging from $167.20 to $168.17.
F12 The price reported in Column 4 is a weighted average price. These shares were sold on May 19, 2025 in multiple transactions at prices ranging from $168.32 to $169.31.
F13 The price reported in Column 4 is a weighted average price. These shares were sold on May 19, 2025 in multiple transactions at prices ranging from $169.32 to $169.94.
F14 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.
F15 Pursuant to the terms of the Sixth Amended and Restated Exchange Agreement (the "Exchange Agreement"), dated as of May 8, 2025, 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.
F16 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.