Bennett Rosenthal - 15 May 2025 Form 4 Insider Report for Ares Management Corp (ARES)

Reporting relationship: Co-Founder & Chairman of PEG, Director
Issuer ticker: ARES
Reported as of: 15 May 2025
Net transaction value: -$6,774,878
SEC form: 4
Accepted by SEC: 19 May 2025, 20:18:43 UTC
Prior SEC filing: 06 Mar 2025
Next SEC filing: 13 Jun 2025
Source filing: View source filing
Reporting owner signature: /s/ Naseem Sagati Aghili, by power of attorney

Key filing fact

Bennett Rosenthal filed Form 4 for Ares Management Corp (ARES) on 19 May 2025.

Key facts

This page summarizes Bennett Rosenthal's Form 4 filing for Ares Management Corp (ARES).
7 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 19 May 2025, 20:18.

Change

Previous filing in this sequence was filed on 06 Mar 2025.
Current net transaction value: -$6,774,878.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001304465 Primary reporting owner

Rosenthal Bennett

Relationship: Co-Founder & Chairman of PEG, Director
Address: 1800 AVENUE OF THE STARS, SUITE 1400, LOS ANGELES
Signature: /s/ Naseem Sagati Aghili, by power of attorney
Signature date: 19 May 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ARES transaction

Class A Common Stock

Conversion of derivative security

Transaction value: $0
Shares: +125,000
Change %
Price: $0.000000
Shares after: 125,000
Date: 15 May 2025
Ownership: By BAR Holdings, LLC

ARES transaction

Class A Common Stock

Sale

Transaction value: $3,511,006
Shares: -20,822
Change %: -17%
Price: $168.62
Shares after: 104,178
Date: 15 May 2025
Ownership: By BAR Holdings, LLC
Footnotes: F1, F2

ARES transaction

Class A Common Stock

Sale

Transaction value: $1,501,506
Shares: -8,848
Change %: -8.5%
Price: $169.70
Shares after: 95,330
Date: 15 May 2025
Ownership: By BAR Holdings, LLC
Footnotes: F1, F3

ARES transaction

Class A Common Stock

Sale

Transaction value: $1,550,549
Shares: -9,100
Change %: -9.5%
Price: $170.39
Shares after: 86,230
Date: 15 May 2025
Ownership: By BAR Holdings, LLC
Footnotes: F1, F4

ARES transaction

Class A Common Stock

Sale

Transaction value: $120,043
Shares: -700
Change %: -0.81%
Price: $171.49
Shares after: 85,530
Date: 15 May 2025
Ownership: By BAR Holdings, LLC
Footnotes: F1, F5

ARES transaction

Class A Common Stock

Sale

Transaction value: $91,775
Shares: -530
Change %: -0.62%
Price: $173.16
Shares after: 85,000
Date: 15 May 2025
Ownership: By BAR Holdings, LLC
Footnotes: F1, F6

ARES holding

Class A Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,076,052
Date: 15 May 2025
Ownership: By Ares Owners Holdings L.P.
Footnotes: F7

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

ARES transaction Derivative

Ares Operating Group Units

Conversion of derivative security

Transaction value
Shares: -125,000
Change %: -1.5%
Price
Shares after: 8,196,596
Date: 15 May 2025
Ownership: By Ares Owners Holdings L.P.
Underlying class: Class A Common Stock
Underlying amount: 125,000
Exercise price
Footnotes: F8, F9

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 9 footnotes

Footnote F1

This transaction was effected pursuant to a 10b5-1 trading plan adopted on February 13, 2025 by the reporting person, or a vehicle controlled by him.

Footnote 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 and 6.

Footnote 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.

Footnote 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 $170.95.

Footnote 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 $171.11 to $171.93.

Footnote 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.

Footnote F7

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 Class A Common Stock. The shares of Class A Common Stock indirectly held by the reporting person or the vehicle are the number of shares of Class A Common Stock that he or the vehicle has a right to receive as a limited partner in AOH.

Footnote F8

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.

Footnote F9

The reporting person or a vehicle controlled by him is a limited partner in 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.