Ares CEO has shares withheld for tax obligations

Ares Management Corp Co-Founder and CEO Michael J. Arougheti reported a tax-related share disposition tied to equity compensation.

Rhea-AI Filing Summary

Ares Management Corp Co-Founder and CEO Michael J. Arougheti reported a tax-related share disposition tied to equity compensation. The company withheld 82,957 shares of Class A Common Stock at $111.31 per share to cover minimum tax withholding obligations arising from the vesting of restricted units.

Following this withholding, Arougheti directly holds 1,364,548 shares of Class A Common Stock. This figure includes 1,137,500 restricted units that each convert into one share upon vesting in installments under Ares Management’s equity incentive plan.

Insider Trade Summary

Exercise Price or Tax Liability: 82,957 shares

Exercise Price or Tax Liability 1 txn

Insider Arougheti Michael J

Role Co-Founder and CEO

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Class A Common Stock	82,957	$111.31	$9.23M

Holdings After Transaction: Class A Common Stock — 1,364,548 shares (Direct)

Footnotes (2)

1. F1. 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 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.
2. F2. Includes 1,137,500 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.

Key Figures

Tax-withheld shares: 82,957 shares Withholding price: $111.31 per share Shares after transaction: 1,364,548 shares +1 more

4 metrics

Tax-withheld shares 82,957 shares Class A Common Stock withheld to cover taxes on vesting

Withholding price $111.31 per share Value used for tax-withholding disposition on Class A shares

Shares after transaction 1,364,548 shares Direct Class A holdings following tax-withholding disposition

Restricted units outstanding 1,137,500 units Restricted units that each convert into one Class A share upon vesting

Key Terms

restricted units, equity incentive plan, tax withholding obligations

3 terms

restricted units financial

"Includes 1,137,500 restricted units granted under an equity incentive plan of Ares Management Corporation."

equity incentive plan financial

"restricted units granted under an equity incentive plan of Ares Management Corporation."

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

tax withholding obligations financial

"withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Ares Management (ARES) report for Michael Arougheti?

Ares Management reported that CEO Michael Arougheti had 82,957 Class A shares withheld to cover tax obligations from vesting restricted units. This was a tax-withholding disposition, not an open-market sale, under the company’s equity incentive plan.

How many Ares (ARES) shares were involved in Michael Arougheti’s tax withholding?

The transaction involved 82,957 shares of Ares Management Class A Common Stock, withheld at a price of $111.31 per share. These shares satisfied minimum tax withholding obligations triggered by the vesting of restricted units granted as equity compensation.

How many Ares Management (ARES) shares does Michael Arougheti hold after this Form 4?

After the tax-withholding disposition, Michael Arougheti directly holds 1,364,548 shares of Ares Management Class A Common Stock. This total includes both currently held shares and 1,137,500 restricted units that will convert into shares as they vest over time.

What are the restricted units mentioned in the Ares (ARES) Form 4 filing?

The filing states Arougheti holds 1,137,500 restricted units granted under Ares Management’s equity incentive plan. Each restricted unit represents the right to receive one Class A share upon vesting, with vesting occurring in installments per the award agreement.

Was Michael Arougheti’s Ares (ARES) Form 4 transaction an open-market sale?

No. The Form 4 describes a tax-withholding disposition, where 82,957 shares were withheld by Ares Management to cover tax liabilities from restricted unit vesting. It does not represent a discretionary open-market sale by Arougheti.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/02/2026 - 04:10 PM Learn about SEC filing dates

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 CALIFORNIA 90067

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/30/2026		F		82,957(1)	D	$111.31	1,364,548(2)	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. 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 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.

2. Includes 1,137,500 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	07/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)