Michael R. McFerran - 30 Jul 2021 Form 4 Insider Report for Ares Management Corp (ARES)

Reporting relationship: COO & CFO
Issuer ticker: ARES
Reported as of: 30 Jul 2021
Net transaction value: -$3,994,263
SEC form: 4
Accepted by SEC: 03 Aug 2021, 20:32:56 UTC
Prior SEC filing: 06 Jul 2021
Source filing: View source filing
Reporting owner signature: /s/ Naseem Sagati Aghili, by power of attorney

Key filing fact

Michael R. McFerran filed Form 4 for Ares Management Corp (ARES) on 03 Aug 2021.

Key facts

This page summarizes Michael R. McFerran's Form 4 filing for Ares Management Corp (ARES).
3 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 03 Aug 2021, 20:32.

Change

Previous filing in this sequence was filed on 06 Jul 2021.
Current net transaction value: -$3,994,263.

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

Reported non-derivative transactions

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

ARES transaction

Class A Common Stock

Options Exercise

Transaction value
Shares: +112,500
Change %: +12%
Price
Shares after: 1,021,762
Date: 30 Jul 2021
Ownership: Direct
Footnotes: F1, F2

ARES transaction

Class A Common Stock

Tax liability

Transaction value: $3,994,263
Shares: -55,778
Change %: -5.5%
Price: $71.61
Shares after: 965,984
Date: 30 Jul 2021
Ownership: Direct
Footnotes: F2, F3

Reported derivative securities

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

ARES transaction Derivative

Restricted Units

Options Exercise

Transaction value: $0
Shares: -112,500
Change %: -50%
Price: $0.000000
Shares after: 112,500
Date: 30 Jul 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 112,500
Exercise price
Footnotes: F4

ARES holding Derivative

Options (Right to Buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 144,453
Date: 30 Jul 2021
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 144,453
Exercise price: $18.35
Footnotes: F5

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

Reflects the vesting of 112,500 restricted units granted on January 22, 2021 under the Ares Management Corporation Third Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan") on July 30, 2021 pursuant to the vesting conditions of such restricted units. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Footnote F2

Includes 817,421 restricted units granted under the Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Footnote F3

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 restricted units representing the right to receive one share of Class A Common Stock under the Equity Incentive Plan.

Footnote F4

The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, generally subject to the reporting person's continued service through the applicable vesting date.

Footnote F5

The options are fully vested as of March 23, 2020.