[Form 4] Ares Management Corporation Insider Trading Activity

Rhea-AI Filing Summary

Anton P. Ressler, a director, 10% owner and Co-Founder & Executive Chairman of Ares Management Corp (ARES), reported multiple sales of Class A common stock under a 10b5-1 plan adopted May 21, 2025. Between August 20-22, 2025 he sold a total of 266,743 shares in multiple transactions at weighted-average prices ranging roughly from $176.76 to $183.67 per share. The filing states these holdings include 2,000,000 shares previously held indirectly through Ares Owners Holdings L.P. After the reported sales, the filing discloses indirect beneficial ownership of 2,235,625 shares through Ares Owners Holdings L.P.

Positive

• Trades executed under a 10b5-1 plan, indicating pre-scheduled transactions and reducing appearance of opportunistic timing
• Detailed disclosure of weighted-average prices and offer to provide per-trade quantities enhances transparency
• Filing reports post-transaction beneficial ownership, showing continuing significant indirect stake (2,235,625 shares)

Negative

• Large aggregate insider sales of 266,743 Class A shares over three days, representing a material disposition of holdings
• Multiple transfers between related vehicles noted (including a prior transfer of 2,000,000 shares), which alters the structure of reported ownership

Insights

Securities Analyst

TL;DR: Large insider sales executed under a 10b5-1 plan, disclosed and routine, resulting in a substantial reduction of indirectly held shares.

The Form 4 shows Anton Ressler executed scheduled sales totaling 266,743 Class A shares over three days using a 10b5-1 trading plan, with weighted-average sale prices spanning roughly $176–$184. The filing transparently documents price ranges and confirms availability of per-trade details on request. The report also notes a prior transfer of 2,000,000 shares from Ares Owners Holdings L.P. to the reporting person or a vehicle controlled by him, and ends with an indirect holding of 2,235,625 shares via Ares Owners Holdings L.P. For investors, the sales are material in size but were executed under a pre-established plan, which typically reduces informational asymmetry about timing.

Corporate Governance Expert

TL;DR: Formal disclosure of plan-based insider selling improves governance transparency despite sizable share dispositions.

The filing indicates compliance with Rule 10b5-1 by stating the trades were effected pursuant to a plan adopted May 21, 2025. The registrant provided weighted-average prices and offered to supply per-trade details, which supports disclosure quality. The combination of significant share transfers between related vehicles and concentrated indirect holdings through Ares Owners Holdings L.P. merits monitoring for changes in ownership structure, but the Form 4 itself is a routine, properly documented insider sale report.

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^*

RESSLER ANTONY P

(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)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Founder & Exec. Chairman

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

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	08/20/2025		S(1)		13,084	D	$176.76(2)	1,986,916(3)	I	By TJ Capital Investors, LLC
Class A Common Stock	08/20/2025		S(1)		12,136	D	$177.27(4)	1,974,780	I	By TJ Capital Investors, LLC
Class A Common Stock	08/20/2025		S(1)		54,513	D	$178.75(5)	1,920,267	I	By TJ Capital Investors, LLC
Class A Common Stock	08/20/2025		S(1)		18,238	D	$179.26(6)	1,902,029	I	By TJ Capital Investors, LLC
Class A Common Stock	08/21/2025		S(1)		54,518	D	$178.12(7)	1,847,511	I	By TJ Capital Investors, LLC
Class A Common Stock	08/21/2025		S(1)		8,860	D	$178.65(8)	1,838,651	I	By TJ Capital Investors, LLC
Class A Common Stock	08/22/2025		S(1)		1,702	D	$178.69(9)	1,836,949	I	By TJ Capital Investors, LLC
Class A Common Stock	08/22/2025		S(1)		900	D	$179.83(10)	1,836,049	I	By TJ Capital Investors, LLC
Class A Common Stock	08/22/2025		S(1)		51,669	D	$181.02(11)	1,784,380	I	By TJ Capital Investors, LLC
Class A Common Stock	08/22/2025		S(1)		29,717	D	$181.95(12)	1,754,663	I	By TJ Capital Investors, LLC
Class A Common Stock	08/22/2025		S(1)		16,261	D	$182.87(13)	1,738,402	I	By TJ Capital Investors, LLC
Class A Common Stock	08/22/2025		S(1)		5,145	D	$183.67(14)	1,733,257	I	By TJ Capital Investors, LLC
Class A Common Stock								2,235,625	I	By Ares Owners Holdings L.P.(15)

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 May 21, 2025 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 August 20, 2025 in multiple transactions at prices ranging from $176.02 to $177.01. 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, 8, 9, 10, 11, 12, 13 and 14.

3. The shares of Class A Common Stock reported as sold and the number of shares owned after such sale includes 2,000,000 shares of Class A Common Stock previously reported as indirectly held by the reporting person through Ares Owners Holdings L.P. ("AOH"), which shares were transferred to the reporting person or a vehicle controlled by him.

4. The price reported in Column 4 is a weighted average price. These shares were sold on August 20, 2025 in multiple transactions at prices ranging from $177.02 to $178.01.

5. The price reported in Column 4 is a weighted average price. These shares were sold on August 20, 2025 in multiple transactions at prices ranging from $178.02 to $179.01.

6. The price reported in Column 4 is a weighted average price. These shares were sold on August 20, 2025 in multiple transactions at prices ranging from $179.02 to $179.82.

7. The price reported in Column 4 is a weighted average price. These shares were sold on August 21, 2025 in multiple transactions at prices ranging from $177.48 to $178.47.

8. The price reported in Column 4 is a weighted average price. These shares were sold on August 21, 2025 in multiple transactions at prices ranging from $178.48 to $179.13.

9. The price reported in Column 4 is a weighted average price. These shares were sold on August 22, 2025 in multiple transactions at prices ranging from $178.22 to $179.05.

10. The price reported in Column 4 is a weighted average price. These shares were sold on August 22, 2025 in multiple transactions at prices ranging from $179.42 to $180.39.

11. The price reported in Column 4 is a weighted average price. These shares were sold on August 22, 2025 in multiple transactions at prices ranging from $180.43 to $181.42.

12. The price reported in Column 4 is a weighted average price. These shares were sold on August 22, 2025 in multiple transactions at prices ranging from $181.43 to $182.43.

13. The price reported in Column 4 is a weighted average price. These shares were sold on August 22, 2025 in multiple transactions at prices ranging from $182.48 to $183.47.

14. The price reported in Column 4 is a weighted average price. These shares were sold on August 22, 2025 in multiple transactions at prices ranging from $183.48 to $183.93.

15. The reporting person or a vehicle controlled by him is a limited partner in AOH, the direct holder of the shares of Class A Common Stock. The shares of Class A Common Stock indirectly held by the reporting person or the vehicle are the number of shares of Class A Common Stock that he or the vehicle has a right to receive as a limited partner in AOH.

Remarks:

	/s/ Anton Feingold, by power of attorney	08/22/2025
	** 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.

FAQ

What shares did Anton P. Ressler sell in the ARES Form 4?

The filing reports sales of 266,743 shares of Ares Management Class A common stock executed between August 20 and August 22, 2025.

Were the sales made pursuant to a 10b5-1 trading plan?

Yes. The report states the transactions were effected under a 10b5-1 plan adopted May 21, 2025.

What price range did the shares sell for?

Weighted-average prices reported range roughly from $176.76 to $183.67 per share, with per-trade ranges disclosed in footnotes.

How many ARES shares does Ressler (indirectly) hold after the sales?

The Form 4 discloses indirect beneficial ownership of 2,235,625 shares through Ares Owners Holdings L.P.

Does the filing mention any transfers between related entities?

Yes. Footnote 3 notes the reported shares include 2,000,000 shares previously reported as indirectly held by the reporting person through Ares Owners Holdings L.P. that were transferred to the reporting person or a vehicle controlled by him.