[Form 4] Ares Management Corporation Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing for Ares Management Corp. (ARES) discloses that director Ashish Bhutani received 1,166 Class A restricted stock units (RSUs) on 07/31/2025 under the company’s equity incentive plan. Each RSU converts 1-for-1 into common stock once restrictions lapse. According to the footnotes, the entire block is scheduled to vest on the first anniversary of the grant date. The award was recorded at $0 transaction price because it was a grant, not an open-market purchase. Following the issuance, Bhutani’s direct beneficial ownership rises to 24,071 Class A shares, which includes the newly granted RSUs that will vest in accordance with the award agreement. No derivative securities were reported, and there were no dispositions.

Insights

Securities Analyst

TL;DR: Minor RSU grant; likely immaterial to ARES valuation and shareholder sentiment.

The filing shows a routine director equity grant rather than an open-market buy. Although insider accumulation can signal confidence, the 1,166-share award is small relative to ARES’s float and involves no cash outlay, limiting information value for investors. Vesting in one year aligns Bhutani’s incentives with shareholders but does not alter governance structure or ownership concentration. I therefore view the disclosure as neutral with negligible market impact.

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^*

BHUTANI ASHISH

(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		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2025

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	07/31/2025		A		1,166(1)	A	$0	24,071(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. 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 on the first anniversary of the grant date.

2. Includes 1,166 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	08/04/2025
	** 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

How many ARES shares did director Ashish Bhutani acquire?

He received 1,166 restricted stock units, each convertible into one Class A share upon vesting.

What was the transaction price for the RSU grant reported on ARES Form 4?

The RSUs were granted at $0 because they are part of an incentive plan, not an open-market purchase.

When will the newly granted ARES RSUs vest?

Footnote 1 states the restrictions are scheduled to lapse on the first anniversary of the 07/31/2025 grant date.

What is Ashish Bhutani’s total ARES share ownership after the grant?

After the transaction, he beneficially owns 24,071 Class A shares (including the unvested RSUs).

Did the filing report any derivative securities or dispositions?

No. The form lists no derivative positions and no share sales or other dispositions.