Ares (ARES) Form 144 Reveals Founder Sale and Recent 10b5-1 Transactions

Rhea-AI Filing Summary

Form 144 notice for Ares Management Corporation (ARES) shows a proposed sale of 196,197 common shares to be executed through Morgan Stanley Smith Barney on the NYSE with an aggregate market value of $34,948,571.61. The shares were acquired as Founders Shares on 05/01/2014 from the issuer and the filing lists that payment was made on the acquisition date. The filing also discloses multiple recent 10b5-1 sales by TJ CAPITAL INVESTORS LLC on 08/20–08/25/2025 totaling 381,265 shares and gross proceeds of approximately $67,657,006. The filer attests there is no undisclosed material adverse information and references Rule 10b5-1 trading plan mechanics in the remarks.

Positive

• Full transaction detail provided: class, broker, exact share counts, acquisition date, and aggregate market value
• Recent 10b5-1 sales disclosed with dates and gross proceeds, increasing transparency about insider liquidity
• Filer attestation that no undisclosed material adverse information exists and reference to Rule 10b5-1 plan mechanics

Negative

• No financial or operational metrics are included, so the filing does not provide context on company performance
• Large insider sales (381,265 shares sold in past week plus proposed 196,197 shares) may increase share supply, though impact on price is not stated

Insights

Financial Analyst

TL;DR Proposed sale is sizable but consistent with prior 10b5-1 activity; reflects owner liquidity, not earnings or operational change.

The filing documents a proposed sale of 196,197 founder shares valued at about $34.95 million executed via a broker on the NYSE and confirms the shares were originally acquired on 05/01/2014 from the issuer. The schedule of recent 10b5-1 sales by TJ CAPITAL INVESTORS LLC from 08/20 to 08/25/2025 shows substantial divestiture activity of 381,265 shares with gross proceeds of roughly $67.66 million. These disclosures are transactional and do not include financial performance metrics or forward guidance; their materiality is primarily to share supply and insider liquidity.

Compliance/Risk Analyst

TL;DR Filing follows Rule 144/10b5-1 disclosure norms and includes insider attestation; no compliance exceptions are stated.

The document provides the required details for a Rule 144 notice: class of security, broker, acquisition date and nature, and recent 10b5-1 sales with dates and proceeds. The signer affirms lack of undisclosed material adverse information and references the plan adoption date area, consistent with Rule 10b5-1 protocols. The filing does not show any caveats, disclaimers, or notes of unpaid consideration, and no compliance issues are evident from the text provided.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	196197	34948571.61	215934693	08/26/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/01/2014	Founders Shares	Issuer			196197	05/01/2014	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	08/25/2025	112522	20037388.91
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	08/22/2025	105394	19144535.54
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	08/21/2025	63378	11293281.46
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	08/20/2025	97971	17477801.07

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the ARES Form 144 disclose about the proposed sale?

The filing discloses a proposed sale of 196,197 common shares via Morgan Stanley Smith Barney on the NYSE with an aggregate market value of $34,948,571.61.

When were the shares being sold originally acquired?

The shares were acquired as Founders Shares on 05/01/2014 from the issuer, with payment dated 05/01/2014.

Does the filing show other recent insider sales?

Yes. The filing lists 10b5-1 sales by TJ CAPITAL INVESTORS LLC on 08/20/2025 through 08/25/2025 totaling 381,265 shares and gross proceeds of about $67,657,006.

Is there any indication of undisclosed adverse information in the filing?

The filer signs an attestation representing they do not know any material adverse information not publicly disclosed.

Which broker and exchange are involved in the proposed sale?

The broker is Morgan Stanley Smith Barney LLC and the listed exchange is the NYSE.