[Form 4] Ares Management Corporation Insider Trading Activity

Rhea-AI Filing Summary

ARES – Form 4: Director Paul G. Joubert was granted 1,166 restricted stock units (RSUs) of Ares Management Corp. on 31-Jul-2025 under the company’s equity incentive plan. The award carries no cash consideration (reported price $0) and each unit converts into one share of Class A Common Stock when vesting conditions are met.

The RSUs are scheduled to fully vest on the first anniversary of the grant date; 1,166 units are already reflected in Joubert’s ownership. Following the award, the director’s total beneficial holdings rise to 42,468 Class A shares.

The filing, signed 04-Aug-2025, shows a routine, compensation-related increase in insider ownership. While it modestly aligns the director’s incentives with shareholders, the 0.01%-level change is immaterial to Ares’ float and should not meaningfully affect valuation or dilution.

Positive

• Increase in insider ownership: Director’s stake rises to 42,468 shares, modestly improving alignment with shareholders.

Negative

• None.

Insights

Equity Compensation Analyst

TL;DR: Routine RSU grant; small size, neutral valuation impact.

The award of 1,166 RSUs represents roughly US$150k at recent prices—typical annual board compensation. Vesting over one year encourages short-term retention but does not materially tighten insider lock-up. Post-grant ownership of 42,468 shares (≈US$5.4 m) strengthens alignment, yet the incremental dilution is de minimis against Ares’ 302 m share base. Investors can view this as standard practice rather than a signal on future performance.

Portfolio Manager

TL;DR: Minor insider ownership uptick; neither bullish nor worrisome.

Because the RSUs are compensation-driven and cost-free, they lack the conviction signal of an open-market buy. The grant adds <0.002% to outstanding shares, thus no EPS dilution concerns. I classify the filing as informational; trading strategy unchanged.

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^*

Joubert Paul G.

(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	42,468(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 Paul G. Joubert receive?

He was granted 1,166 restricted stock units, each convertible into one Class A share.

What was the transaction price for the RSUs?

The RSUs were issued at $0 cost as part of equity compensation.

When do the newly granted ARES RSUs vest?

Restrictions lapse one year after the 31-Jul-2025 grant date.

What is the director’s total beneficial ownership after the grant?

Paul G. Joubert now beneficially owns 42,468 ARES Class A shares.

Does this Form 4 filing indicate material dilution for ARES shareholders?

No. The additional 1,166 shares represent <0.002% of shares outstanding—immaterial dilution.