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ARES Form 4: Anton P. Ressler reports multiple Class A sales with price ranges

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Anton P. Ressler, identified as 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 trading plan adopted May 21, 2025. The Form 4 lists executed sales on 08/29/2025 and 09/02/2025 with weighted-average prices disclosed in footnotes and price ranges for each grouped execution. The filing shows a sequence of decreasing reported indirect holdings after those sales (examples include 1,084,144, 865,517 reported indirectly) and separately notes 2,235,625 shares held indirectly by Ares Owners Holdings L.P. All sales are reported as indirect beneficial ownership via TJ Capital Investors, LLC or by Ares Owners Holdings L.P.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: Routine, preplanned insider sales disclosed under a 10b5-1 plan; transparency is appropriate but reduces reported indirect holdings.

The filing indicates that the reporting person executed multiple sales under an established 10b5-1 plan, which provides an affirmative defense to insider trading claims when properly adopted. The Form 4 includes weighted-average prices and explicit price ranges for grouped executions, improving disclosure clarity. Beneficial ownership is shown on an indirect basis through TJ Capital Investors, LLC and Ares Owners Holdings L.P., with post-sale reported indirect holdings called out in the table. From a governance perspective, these are permissible, documented disposals; the materiality to shareholders depends on the absolute share amounts relative to total outstanding shares (not provided in this filing).

TL;DR: Multiple insider sales executed; documented prices and dates help market transparency; impact appears routine.

The Form 4 records sales on 08/29/2025 and 09/02/2025 with weighted-average prices and specific execution price ranges disclosed in footnotes. Sales were reported as indirect via TJ Capital Investors, LLC and holdings are also reported via Ares Owners Holdings L.P. The disclosure allows investors to see timing and pricing of insider disposals but does not include aggregate proceeds or context versus total float, so assessment of market impact is limited by the filing's scope.

Insider RESSLER ANTONY P
Role Co-Founder & Exec. Chairman
Sold 278,961 shs ($49.90M)
Type Security Shares Price Value
Sale Class A Common Stock 700 $174.11 $122K
Sale Class A Common Stock 2,400 $175.21 $421K
Sale Class A Common Stock 8,336 $176.28 $1.47M
Sale Class A Common Stock 16,514 $177.29 $2.93M
Sale Class A Common Stock 78,580 $178.49 $14.03M
Sale Class A Common Stock 71,395 $179.49 $12.81M
Sale Class A Common Stock 4 $179.86 $719.44
Sale Class A Common Stock 60,334 $179.10 $10.81M
Sale Class A Common Stock 38,975 $179.57 $7.00M
Sale Class A Common Stock 1,723 $180.31 $311K
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 1,042,746 shares (Indirect, By TJ Capital Investors, LLC)
Footnotes (1)
  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. The price reported in Column 4 is a weighted average price. These shares were sold on August 29, 2025 in multiple transactions at prices ranging from $178.21 to $179.20. 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, 6, 7, 8, 9 and 10. The price reported in Column 4 is a weighted average price. These shares were sold on August 29, 2025 in multiple transactions at prices ranging from $179.21 to $180.14. The price reported in Column 4 is a weighted average price. These shares were sold on August 29, 2025 in multiple transactions at prices ranging from $180.22 to $180.49. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $173.68 to $174.27. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $174.84 to $175.72. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $175.86 to $176.85. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $176.86 to $177.86. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $177.86 to $178.86. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $178.86 to $179.84. The reporting person or a vehicle controlled by him is a limited partner in Ares Owners Holdings L.P. ("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.
Form 4 Insider Transactions: What Each Field Means →
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)
08/29/2025
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 08/29/2025 S(1) 60,334 D $179.1(2) 1,084,144 I By TJ Capital Investors, LLC
Class A Common Stock 08/29/2025 S(1) 38,975 D $179.57(3) 1,045,169 I By TJ Capital Investors, LLC
Class A Common Stock 08/29/2025 S(1) 1,723 D $180.31(4) 1,043,446 I By TJ Capital Investors, LLC
Class A Common Stock 09/02/2025 S(1) 700 D $174.11(5) 1,042,746 I By TJ Capital Investors, LLC
Class A Common Stock 09/02/2025 S(1) 2,400 D $175.21(6) 1,040,346 I By TJ Capital Investors, LLC
Class A Common Stock 09/02/2025 S(1) 8,336 D $176.28(7) 1,032,010 I By TJ Capital Investors, LLC
Class A Common Stock 09/02/2025 S(1) 16,514 D $177.29(8) 1,015,496 I By TJ Capital Investors, LLC
Class A Common Stock 09/02/2025 S(1) 78,580 D $178.49(9) 936,916 I By TJ Capital Investors, LLC
Class A Common Stock 09/02/2025 S(1) 71,395 D $179.49(10) 865,521 I By TJ Capital Investors, LLC
Class A Common Stock 09/02/2025 S(1) 4 D $179.86 865,517 I By TJ Capital Investors, LLC
Class A Common Stock 2,235,625 I By Ares Owners Holdings L.P.(11)
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 29, 2025 in multiple transactions at prices ranging from $178.21 to $179.20. 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, 6, 7, 8, 9 and 10.
3. The price reported in Column 4 is a weighted average price. These shares were sold on August 29, 2025 in multiple transactions at prices ranging from $179.21 to $180.14.
4. The price reported in Column 4 is a weighted average price. These shares were sold on August 29, 2025 in multiple transactions at prices ranging from $180.22 to $180.49.
5. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $173.68 to $174.27.
6. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $174.84 to $175.72.
7. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $175.86 to $176.85.
8. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $176.86 to $177.86.
9. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $177.86 to $178.86.
10. The price reported in Column 4 is a weighted average price. These shares were sold on September 2, 2025 in multiple transactions at prices ranging from $178.86 to $179.84.
11. The reporting person or a vehicle controlled by him is a limited partner in Ares Owners Holdings L.P. ("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 09/02/2025
** 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 transactions did Anton P. Ressler report on the ARES Form 4?

The Form 4 reports multiple sales (S) of Class A common stock on 08/29/2025 and 09/02/2025, executed under a 10b5-1 trading plan.

Were the sales executed under a 10b5-1 plan?

Yes. The filing states the transactions were effected pursuant to a 10b5-1 trading plan adopted May 21, 2025.

How are the shares held according to the filing?

Shares are reported as held indirectly through TJ Capital Investors, LLC and Ares Owners Holdings L.P.; one reported indirect holding amount is 2,235,625 shares by Ares Owners Holdings L.P.

What price information is disclosed for the sales?

The Form 4 includes weighted-average prices in Column 4 and footnotes listing execution price ranges for each grouped sale (e.g., $178.21–$179.20, $179.21–$180.14, etc.).

Does the filing show total proceeds or percentage of outstanding shares sold?

No. The Form 4 provides per-transaction share counts and prices but does not disclose aggregate proceeds or percent of outstanding shares.