Ares (ARES) Insider Selling 128,837 Founder Shares via Morgan Stanley

Rhea-AI Filing Summary

Ares Management Corporation (ARES) Form 144 notice details a proposed sale of 128,837 common shares through Morgan Stanley Smith Barney LLC on the NYSE with an aggregate market value of $22,555,493.59. The shares were acquired as founders shares on 05/01/2014 from the issuer and the filing lists the holder as the person for whose account the sale is to be made. The filing also lists numerous recent Rule 10b5-1 sales by TJ CAPITAL INVESTORS LLC between 08/20/2025 and 09/09/2025 with individual sale amounts and gross proceeds disclosed. The filer attests there is no undisclosed material adverse information and references a 10b5-1 trading plan where applicable.

Positive

• Transparency: The filing discloses the exact number of shares (128,837) and the aggregate market value ($22,555,493.59) for the proposed sale.
• Compliance with trading rules: Multiple prior sales are identified as 10b5-1 plan transactions, indicating use of an established trading plan and disclosure.
• Provenance disclosed: The securities were acquired as founders shares on 05/01/2014 from the issuer, which clarifies the nature of the holdings.

Negative

• Significant insider liquidity: The proposed sale and numerous recent 10b5-1 transactions disclose substantial insider-originated selling activity with multi‑million dollar proceeds.
• Potential market impact: The filing shows large daily sale amounts listed over several dates which could affect perceptions of insider confidence, though no operational context is provided.

Insights

Financial Analyst

TL;DR: Insider intends to sell a block of founder shares while multiple systematic 10b5-1 sales occurred recently.

The filing shows a proposed disposal of 128,837 founder shares valued at $22.56M executed through a broker on the NYSE, which is presented alongside a string of 10b5-1 sales by TJ CAPITAL INVESTORS LLC with disclosed amounts and gross proceeds. As a disclosure document, it provides transparency on insider liquidity and trading plan usage but does not supply operational or earnings information to change a valuation model.

Corporate Governance Expert

TL;DR: Routine insider notification consistent with Rule 144 and 10b5-1 procedures; no governance violations disclosed.

The Form 144 reports sale logistics and provenance of the shares (founders shares acquired from the issuer on 05/01/2014) and includes the filer’s representation about absence of undisclosed material adverse information. The filing documents use of a broker and references to a 10b5-1 plan for prior sales, which aligns with standard compliance practices for planned insider dispositions.

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	128837	22555493.59	215934693	09/10/2025	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			128837	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	09/09/2025	101400	17799188.16
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	09/08/2025	170341	29942540.98
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	09/05/2025	176784	31300420.41
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	09/04/2025	161656	28945331.25
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	09/03/2025	126499	22359874.69
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	09/02/2025	177929	31781250.95
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	08/29/2025	101032	18115633.69
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	08/28/2025	108374	19585685.24
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	08/27/2025	171686	30943534.34
10b5-1 Sales for TJ CAPITAL INVESTORS LLC 1800 Avenue of the Stars, Suite 1400 Los Angeles CA 90067	Common	08/26/2025	196197	35078081.25
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?

It discloses a proposed sale of 128,837 common shares through Morgan Stanley Smith Barney LLC on the NYSE with an aggregate market value of $22,555,493.59.

When were the shares being sold originally acquired?

The shares were acquired as founders shares on 05/01/2014 from the issuer.

Who conducted recent sales reported in the filing?

TJ CAPITAL INVESTORS LLC is listed for multiple Rule 10b5-1 sales between 08/20/2025 and 09/09/2025 with individual gross proceeds disclosed.

Does the filing indicate use of a trading plan?

Yes. Several prior sales are identified as 10b5-1 transactions and the filer attests to representations related to a 10b5-1 plan where applicable.

Which broker is handling the proposed sale?

Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004 is named as the broker.