Ares Management General Counsel sold 21,000 ARES shares via 10b5-1

Rhea-AI Filing Summary

Ares Management Corp director and General Counsel Naseem Sagati Aghili reported preplanned sales of 21,000 shares of Class A common stock on 09/10/2025 under a 10b5-1 trading plan adopted June 11, 2025. The sales occurred in multiple transactions at weighted-average prices ranging from $175.58 to $179.88, with weighted-average prices shown for tranches at $176.23, $177.95, $178.58 and $179.42. After these dispositions the reporting person beneficially owned 276,397 shares, which include 155,098 restricted units that vest over time.

Positive

• Transactions executed under a 10b5-1 trading plan, indicating preplanned, compliance-oriented sales.
• Significant residual holding: reporting person still beneficially owns 276,397 shares, including 155,098 restricted units that vest over time.

Negative

• Insider disposed of 21,000 shares on 09/10/2025, which may be viewed negatively by some investors despite being preplanned.
• Sales occurred across multiple price ranges, indicating execution over several trades rather than a single price point.

Insights

Corporate Governance Expert

TL;DR: Routine, preplanned insider sales via a 10b5-1 plan; transparency and vesting schedule reduce governance concerns.

The filing documents scheduled dispositions totaling 21,000 Class A shares by the General Counsel, executed under a 10b5-1 plan adopted 06/11/2025. Using a 10b5-1 plan generally mitigates concerns about trading on material nonpublic information and demonstrates procedural compliance. The filing also discloses a substantial balance of restricted units (155,098) that vest over time, aligning part of compensation with future performance and retention. Overall this is a governance-neutral disclosure reflecting standard insider liquidity and compensation mechanics.

Securities Analyst

TL;DR: Insider sold 21,000 shares at weighted averages near $176–$179; remaining stake is material but sales appear routine.

The transactions were reported as sales in several tranches on 09/10/2025 with weighted-average prices reported and ranges disclosed for each tranche. Post-transaction beneficial ownership is 276,397 shares, including 155,098 restricted units. The presence of a documented 10b5-1 plan suggests the trades were prearranged, reducing market-sensitivity concerns. For investors, these sales represent insider liquidity rather than a clear signal of operational issues.

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).

X

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^*

Sagati Aghili Naseem

(Last) (First) (Middle)

1800 AVENUE OF THE STARS

SUITE 1400

(Street)

LOS ANGELES CA 90067

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ares Management Corp [ ARES ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

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
Class A Common Stock	09/10/2025		S(1)		300	D	$176.23(2)	297,097(3)	D
Class A Common Stock	09/10/2025		S(1)		6,515	D	$177.95(4)	290,582	D
Class A Common Stock	09/10/2025		S(1)		13,053	D	$178.58(5)	277,529	D
Class A Common Stock	09/10/2025		S(1)		1,132	D	$179.42(6)	276,397	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. This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person, or a vehicle controlled by her.

2. The price reported in Column 4 is a weighted average price. These shares were sold on September 10, 2025 in multiple transactions at prices ranging from $175.58 to $176.55. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and footnotes 4, 5 and 6.

3. Includes 155,098 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

4. The price reported in Column 4 is a weighted average price. These shares were sold on September 10, 2025 in multiple transactions at prices ranging from $177.19 to $178.18.

5. The price reported in Column 4 is a weighted average price. These shares were sold on September 10, 2025 in multiple transactions at prices ranging from $178.19 to $179.17.

6. The price reported in Column 4 is a weighted average price. These shares were sold on September 10, 2025 in multiple transactions at prices ranging from $179.19 to $179.88.

Remarks:

	/s/ Naseem Sagati Aghili	09/12/2025
	** 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.
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FAQ

What did ARES insider Naseem Sagati Aghili sell on 09/10/2025?

The reporting person sold a total of 21,000 Class A shares in multiple transactions on 09/10/2025 under a 10b5-1 plan.

Were the sales by the ARES General Counsel preplanned?

Yes. The Form 4 discloses the transactions were effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025.

What prices were the ARES shares sold at?

The filing reports weighted-average prices and ranges: tranches had weighted averages of $176.23, $177.95, $178.58, and $179.42 with ranges from $175.58 to $179.88.

How many ARES shares does the reporting person own after the sales?

After the reported sales the reporting person beneficially owned 276,397 shares, which include 155,098 restricted units that vest in installments.

Does the Form 4 indicate any derivative transactions or amendments?

No. The filing lists only non-derivative common stock sales and includes explanatory footnotes; no derivative securities or amendment dates are reported.