Ares (NYSE: ARES) grants counsel 100,000 shares, withholds for tax

Rhea-AI Filing Summary

Ares Management Corporation’s General Counsel, Naseem Sagati Aghili, reported equity-related transactions in Class A common stock. On January 31, 2026, the reporting person received 100,000 restricted units at $0 under an equity incentive plan, each unit representing one future share, scheduled to vest in four equal installments on January 31, 2028, 2029, 2030 and 2031.

On the same date, 23,861 shares of Class A common stock at $149.67 per share were withheld by Ares to satisfy minimum tax withholding obligations arising from the vesting of restricted units. After these transactions, the reporting person beneficially owned 330,810 Class A shares, including 204,872 restricted units that vest over time under applicable award agreements.

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

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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^*

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)
01/31/2026

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	01/31/2026		A		100,000(1)	A	$0	354,671(2)	D
Class A Common Stock	01/31/2026		F		23,861(3)	D	$149.67	330,810(4)	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. 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 restrictions on such units are scheduled to lapse in four equal installments on January 31, 2028, 2029, 2030 and 2031.

2. Includes 254,872 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.

3. Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock 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.

4. 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.

Remarks:

	/s/ Naseem Sagati Aghili	02/03/2026
	** 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.
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FAQ

What insider transactions did ARES General Counsel report on January 31, 2026?

The ARES General Counsel reported receiving 100,000 restricted units of Class A common stock at $0 and a withholding of 23,861 shares at $149.67 to cover tax obligations tied to vesting restricted units.

How many Ares (ARES) shares does the General Counsel beneficially own after these transactions?

After the reported transactions, the General Counsel beneficially owns 330,810 shares of Ares Class A common stock, including 204,872 restricted units that convert into one share each as they vest under existing award agreements.

What is the nature of the 100,000 Ares (ARES) shares granted to the General Counsel?

The 100,000 Ares Class A shares are in the form of restricted units granted under an equity incentive plan. Each unit converts into one share, with restrictions scheduled to lapse in four equal installments from 2028 through 2031.

Why were 23,861 Ares (ARES) shares withheld from the General Counsel?

Ares withheld 23,861 Class A shares at $149.67 per share to satisfy the General Counsel’s minimum tax withholding obligations that arose when previously granted restricted units vested and converted into Class A common stock.

Over what period will the new Ares (ARES) restricted units vest?

The 100,000 newly granted restricted units are scheduled to vest in four equal installments on January 31, 2028, January 31, 2029, January 31, 2030 and January 31, 2031, assuming continued satisfaction of the award terms.

What portion of the General Counsel’s Ares (ARES) holdings are still restricted units?

The filing states that 204,872 of the General Counsel’s 330,810 beneficially owned Class A shares are restricted units. Each restricted unit will convert into one share of Class A common stock as it vests over time.