Ares Management CEO files Form 4 for stock sales and RSUs

Q: What insider transaction did Ares Management (ARES) report on this Form 4?

The co-founder and CEO of Ares Management Corporation (ARES) , through Atticus Enterprises LLC, reported several open-market sales of Class A common stock on November 24–25, 2025 , with each sale disclosed by number of shares and weighted average sale price.

Q: At what prices were the Ares (ARES) shares sold by the CEO-affiliated entity?

The reported weighted average sale prices include $150.15 on November 24, 2025 and $150.53, $151.66, $152.78, and $153.29 on November 25, 2025. The footnotes state that individual trades occurred within specified ranges around each weighted average price.

Q: Were the Ares (ARES) insider sales made under a Rule 10b5-1 trading plan?

Yes. The filing explains that the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on December 13, 2024 by the reporting person or a vehicle controlled by him.

Q: What do the 1,400,000 Ares (ARES) restricted units represent?

The 1,400,000 restricted units were 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, in installments, in line with the applicable award agreement.

Q: What is the relationship of the reporting person to Ares Management (ARES)?

The reporting person is identified as a Director , Co-Founder , and Chief Executive Officer of Ares Management Corporation, and is therefore an insider subject to Section 16 reporting requirements.

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Ares Management Corporation (ARES) co-founder and CEO reported multiple open-market sales of Class A common stock executed under a Rule 10b5-1 trading plan adopted on December 13, 2024. On November 24, 2025, an affiliated entity, Atticus Enterprises LLC, sold 112,806 shares at a weighted average price of $150.15, with individual trades ranging from $150.00 to $150.53. On November 25, 2025, additional sales included 5,811 shares at $150.53, 14,695 shares at $151.66, 116,937 shares at $152.78, and 48,754 shares at $153.29, each reported as weighted averages across specified price ranges. Following these transactions, 290,997 shares of Class A common stock are reported as indirectly owned through Atticus Enterprises LLC, and 1,400,000 restricted units are reported as directly owned, each unit representing the right to receive one share of Class A common stock upon vesting.

Insider Trade Summary

Net Seller: 299,003 shares ($45,380,330)

Net Sell 6 txns

Insider Arougheti Michael J

Role Co-Founder and CEO

Sold 299,003 shs ($45.38M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	5,811	$150.53	$875K
Sale	Class A Common Stock	14,695	$151.66	$2.23M
Sale	Class A Common Stock	116,937	$152.78	$17.87M
Sale	Class A Common Stock	48,754	$153.29	$7.47M
Sale	Class A Common Stock	112,806	$150.15	$16.94M
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 471,383 shares (Indirect, By Atticus Enterprises LLC); Class A Common Stock — 1,400,000 shares (Direct)

Footnotes (1)

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him. The price reported in Column 4 is a weighted average price. These shares were sold on November 24, 2025 in multiple transactions at prices ranging from $150.00 to $150.53. 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 3, 4, 5 and 6. The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $150.02 to $150.96. The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $151.07 to $152.00. The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $152.07 to $153.06. The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $153.07 to $153.76. Represents 1,400,000 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.

Form 4 Insider Transactions: What Each Field Means →

11/25/2025 - 09:15 PM

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^*

Arougheti Michael J

(Last)

(First)

(Middle)

1800 AVENUE OF THE STARS

SUITE 1400

(Street)

LOS ANGELES

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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Co-Founder and CEO

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	11/24/2025		S⁽¹⁾		112,806	D	$150.15⁽²⁾	477,194	I	By Atticus Enterprises LLC
Class A Common Stock	11/25/2025		S⁽¹⁾		5,811	D	$150.53⁽³⁾	471,383	I	By Atticus Enterprises LLC
Class A Common Stock	11/25/2025		S⁽¹⁾		14,695	D	$151.66⁽⁴⁾	456,688	I	By Atticus Enterprises LLC
Class A Common Stock	11/25/2025		S⁽¹⁾		116,937	D	$152.78⁽⁵⁾	339,751	I	By Atticus Enterprises LLC
Class A Common Stock	11/25/2025		S⁽¹⁾		48,754	D	$153.29⁽⁶⁾	290,997	I	By Atticus Enterprises LLC
Class A Common Stock								1,400,000⁽⁷⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

2. The price reported in Column 4 is a weighted average price. These shares were sold on November 24, 2025 in multiple transactions at prices ranging from $150.00 to $150.53. 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 3, 4, 5 and 6.

3. The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $150.02 to $150.96.

4. The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $151.07 to $152.00.

5. The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $152.07 to $153.06.

6. The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $153.07 to $153.76.

7. Represents 1,400,000 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.

Remarks:

	/s/ Anton Feingold, by power of attorney	11/25/2025
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Ares Management (ARES) report on this Form 4?

The co-founder and CEO of Ares Management Corporation (ARES), through Atticus Enterprises LLC, reported several open-market sales of Class A common stock on November 24–25, 2025, with each sale disclosed by number of shares and weighted average sale price.

How many Ares (ARES) shares does the reporting person own after these transactions?

After the reported transactions, the reporting person shows 290,997 shares of Ares Class A common stock indirectly owned through Atticus Enterprises LLC, and 1,400,000 restricted units directly owned, each restricted unit representing the right to receive one share upon vesting.

At what prices were the Ares (ARES) shares sold by the CEO-affiliated entity?

The reported weighted average sale prices include $150.15 on November 24, 2025 and $150.53, $151.66, $152.78, and $153.29 on November 25, 2025. The footnotes state that individual trades occurred within specified ranges around each weighted average price.

Were the Ares (ARES) insider sales made under a Rule 10b5-1 trading plan?

Yes. The filing explains that the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on December 13, 2024 by the reporting person or a vehicle controlled by him.

What do the 1,400,000 Ares (ARES) restricted units represent?

The 1,400,000 restricted units were 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, in installments, in line with the applicable award agreement.

What is the relationship of the reporting person to Ares Management (ARES)?

The reporting person is identified as a Director, Co-Founder, and Chief Executive Officer of Ares Management Corporation, and is therefore an insider subject to Section 16 reporting requirements.