[Form 4] Ares Commercial Real Estate Corp Insider Trading Activity

Blakely Caroline reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Blakely Caroline reported acquisition or exercise transactions in this Form 4 filing.

Ares Commercial Real Estate Corp director Caroline Blakely received a stock-based compensation award. She was granted 18,879 shares of common stock as restricted stock at $0.0000 per share under the company’s Amended and Restated 2012 Equity Incentive Plan.

The restricted shares are scheduled to vest ratably on a quarterly basis over a one-year period, on the first business day of each fiscal quarter beginning on July 1, 2026. Following this grant, Blakely directly holds 50,495 common shares, while an additional 59,835 common shares are held indirectly by The Caroline E. Blakely Living Trust, of which she is a trustee.

Insider Trade Summary

Grant/Award: 18,879 shares

Grant/Award 2 txns

Insider Blakely Caroline

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	18,879	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 50,495 shares (Direct); Common Stock — 59,835 shares (Indirect, By The Caroline E. Blakely Living Trust)

Footnotes (2)

1. F1. Represents a grant of restricted stock pursuant to Ares Commercial Real Estate Corporation's Amended and Restated 2012 Equity Incentive Plan. The shares of restricted stock are scheduled to vest ratably on a quarterly basis over a one-year period on the first business day of each fiscal quarter beginning July 1, 2026.
2. F2. The common stock is held by The Caroline E. Blakley Living Trust, of which the reporting person is a trustee.

Key Figures

Restricted stock grant: 18,879 shares Grant price: $0.0000 per share Direct holdings after grant: 50,495 shares +2 more

5 metrics

Restricted stock grant 18,879 shares Granted as restricted stock on April 29, 2026

Grant price $0.0000 per share Stated price for restricted stock award

Direct holdings after grant 50,495 shares Common stock directly owned after Form 4 transactions

Indirect trust holdings 59,835 shares Common stock held by The Caroline E. Blakely Living Trust

Vesting start date July 1, 2026 First quarterly vesting date for restricted stock

Key Terms

restricted stock, Amended and Restated 2012 Equity Incentive Plan, vest ratably on a quarterly basis, Living Trust, +1 more

5 terms

restricted stock financial

"Represents a grant of restricted stock pursuant to Ares Commercial Real Estate Corporation's Amended and Restated 2012 Equity Incentive Plan."

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Amended and Restated 2012 Equity Incentive Plan financial

"Represents a grant of restricted stock pursuant to Ares Commercial Real Estate Corporation's Amended and Restated 2012 Equity Incentive Plan."

vest ratably on a quarterly basis financial

"The shares of restricted stock are scheduled to vest ratably on a quarterly basis over a one-year period."

Living Trust financial

"The common stock is held by The Caroline E. Blakley Living Trust, of which the reporting person is a trustee."

indirect ownership financial

"The common stock is held by The Caroline E. Blakley Living Trust, of which the reporting person is a trustee."

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Accepted by SEC EDGAR 05/01/2026 - 03:37 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Blakely Caroline

(Last) (First) (Middle)

C/O ARES COMMERCIAL REAL ESTATE CORP.

245 PARK AVENUE, 42ND FLOOR

(Street)

NEW YORK NEW YORK 10167

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Ares Commercial Real Estate Corp [ ACRE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/29/2026		A		18,879(1)	A	$0	50,495	D
Common Stock								59,835	I	By The Caroline E. Blakely Living Trust(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a grant of restricted stock pursuant to Ares Commercial Real Estate Corporation's Amended and Restated 2012 Equity Incentive Plan. The shares of restricted stock are scheduled to vest ratably on a quarterly basis over a one-year period on the first business day of each fiscal quarter beginning July 1, 2026.

2. The common stock is held by The Caroline E. Blakley Living Trust, of which the reporting person is a trustee.

Remarks:

	/s/ Anton Feingold, by power of attorney	05/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)