Ares (ARES) General Counsel sells 3,921 shares in 10b5-1 plan trades

Rhea-AI Filing Summary

Ares Management Corporation’s General Counsel, Sagati Aghili Naseem, sold a total of 3,921 shares of Class A Common Stock on February 4, 2026 in multiple open-market transactions under a pre-arranged Rule 10b5-1 trading plan adopted on June 11, 2025.

The sales occurred at weighted average prices ranging from about $126.68 to $137.72 per share, executed across several price ranges detailed in the footnotes. Following these transactions, the reporting person directly beneficially owned 326,889 Class A shares, including 204,872 restricted units granted under an equity incentive plan that vest over time.

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)
02/04/2026

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	02/04/2026		S(1)		300	D	$126.68(2)	330,510(3)	D
Class A Common Stock	02/04/2026		S(1)		300	D	$128.98(4)	330,210(3)	D
Class A Common Stock	02/04/2026		S(1)		100	D	$131.61	330,110(3)	D
Class A Common Stock	02/04/2026		S(1)		300	D	$134(5)	329,810(3)	D
Class A Common Stock	02/04/2026		S(1)		1,110	D	$135.28(6)	328,700(3)	D
Class A Common Stock	02/04/2026		S(1)		611	D	$136.74(7)	328,089(3)	D
Class A Common Stock	02/04/2026		S(1)		1,200	D	$137.72(8)	326,889(3)	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.

2. The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $126.41 to $127.21. 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, 6, 7 and 8.

3. Includes 204,872 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 February 4, 2026 in multiple transactions at prices ranging from $128.65 to $129.60.

5. The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $133.47 to $134.27.

6. The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $134.78 to $135.76.

7. The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $136.45 to $137.25.

8. The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $137.45 to $138.07.

Remarks:

	/s/ Naseem Sagati Aghili	02/06/2026
	** 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.

FAQ

What insider transaction did ARES General Counsel report on this Form 4?

Ares Management’s General Counsel, Sagati Aghili Naseem, reported selling 3,921 shares of Class A Common Stock on February 4, 2026. The trades were executed in multiple transactions at different prices as part of a disclosed 10b5-1 trading plan.

At what prices did the ARES General Counsel sell Class A shares?

The reported sales were executed at weighted average prices with examples including $126.68, $128.98, $131.61, $134.00, $135.28, $136.74 and $137.72 per share. Footnotes explain each figure reflects multiple trades within specified price ranges.

How many ARES shares does the General Counsel own after the reported sales?

After the February 4, 2026 sales, the General Counsel directly beneficially owned 326,889 shares of Ares Class A Common Stock. This total includes 204,872 restricted units, each representing the right to receive one share upon vesting under an equity incentive plan.

Were the ARES insider sales made under a 10b5-1 trading plan?

Yes. A footnote states the transactions were effected under a Rule 10b5-1 trading plan adopted on June 11, 2025. Such plans allow insiders to pre-schedule trades, helping separate routine portfolio moves from discretionary timing decisions.

What do the restricted units held by the ARES General Counsel represent?

The filing notes that 204,872 restricted units were granted under an Ares equity incentive plan. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting, with vesting occurring in installments per the award agreement.

Does the ARES Form 4 disclose detailed price ranges for the insider sales?

Yes. Footnotes explain that reported prices are weighted averages for multiple trades. For example, some shares sold between $126.41 and $127.21, while others fell in ranges up to $137.45 to $138.07, with full breakdowns available on request.