[Form 4] ARES CAPITAL CORP Insider Trading Activity

Ares Capital (ARCC) disclosed an insider share purchase by its Chief Executive Officer.

Rhea-AI Filing Summary

Ares Capital (ARCC) disclosed an insider share purchase by its Chief Executive Officer. On 10/31/2025, the CEO bought 13,000 shares of common stock (transaction code P) at a weighted average price of $20.39, with trades executed between $20.29 and $20.49.

Following the transaction, the reporting person beneficially owns 28,000 shares, held directly. The filing notes the purchase was executed across multiple prices and offers to provide full breakdowns upon request.

Insider Trade Summary

Net Buyer: 13,000 shares

Net Buy 1 txn

Insider SCHNABEL MICHAEL KORT

Role Chief Executive Officer

Bought 13,000 shs ($265K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	13,000	$20.39	$265K

Holdings After Transaction: Common Stock — 28,000 shares (Direct)

Footnotes (1)

1. F1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.29 to $20.49, inclusive. The reporting person undertakes to provide to Ares Capital Corporation, any security holder of Ares Capital Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many ARCC shares did the CEO purchase, and on what date?

The CEO purchased 13,000 shares on 10/31/2025.

What price did ARCC’s CEO pay for the shares?

The weighted average price was $20.39, with trades from $20.29 to $20.49.

How many ARCC shares does the reporting person own after the transaction?

Following the purchase, the reporting person beneficially owns 28,000 shares, held directly.

What does transaction code P indicate for this ARCC Form 4?

Code P indicates a purchase of common stock.

Were any derivative securities reported in this ARCC Form 4?

No derivative securities are listed in the provided excerpt of Table II.

Was the purchase made under a Rule 10b5-1 trading plan?

The excerpt includes the 10b5-1 checkbox language, but it does not indicate that the box was checked.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/03/2025 - 06:15 PM 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^*

SCHNABEL MICHAEL KORT

(Last) (First) (Middle)

C/O ARES CAPITAL CORPORATION

245 PARK AVENUE, 44TH FLOOR

(Street)

NEW YORK NY 10167

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ARES CAPITAL CORP [ ARCC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/31/2025

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

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

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

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	10/31/2025		P		13,000	A	$20.39(1)	28,000	D

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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $20.29 to $20.49, inclusive. The reporting person undertakes to provide to Ares Capital Corporation, any security holder of Ares Capital Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within such range.

	/s/ Monica J. Shilling, by power of attorney	11/03/2025
	** 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.