[Form 4] Ares Management Corporation Insider Trading Activity

Rhea-AI Filing Summary

Anton P. Ressler, Co-Founder & Executive Chairman of Ares Management Corp (ARES), reported multiple open-market sales of Class A common stock executed under a 10b5-1 plan adopted May 21, 2025. Between August 25-26, 2025 he sold a total of 308,719 shares in several tranches at weighted-average prices ranging roughly from $176.98 to $179.30, generating proceeds shown by per-tranche weighted averages between $177.62 and $181.26.

After these transactions, the reporting person (directly or via controlled vehicles) continues to hold an indirect interest in 2,235,625 Class A shares through Ares Owners Holdings L.P. The filings note sales were made pursuant to a written 10b5-1 trading plan and provide weighted-average price ranges for each tranche; no derivative transactions were reported.

Positive

• Sales executed under a documented 10b5-1 plan, indicating compliance with Rule 10b5-1(c)
• Reporting includes weighted-average price ranges and footnotes offering to provide detailed per-price breakdowns on request
• Reporting person retains substantial indirect ownership of 2,235,625 Class A shares via Ares Owners Holdings L.P.

Negative

• Material insider disposals totaling 308,719 shares over two days, which increases public float
• Multiple large tranches sold at prices between ~$177 and ~$181, reducing the reporting person’s economic exposure

Insights

Financial Analyst

TL;DR Significant insider share sales executed under a 10b5-1 plan; holdings remain material at ~2.24M shares.

The reporting shows systematic liquidation of 308,719 Class A shares over two days under a pre-established 10b5-1 plan, which reduces immediate insider exposure but preserves substantial indirect ownership of 2,235,625 shares via Ares Owners Holdings L.P. The transaction prices span about $177 to $181 per share, indicating execution across narrow intraday ranges. From an investor perspective, these are rule-compliant sales rather than ad-hoc dispositions, which tempers governance concerns but increases public float modestly.

Corporate Governance Expert

TL;DR Sales were effected under a documented 10b5-1 plan, indicating procedural compliance despite material volume.

The Form 4 discloses that the trades were implemented pursuant to a 10b5-1 plan adopted May 21, 2025, which provides the reporting person an affirmative defense under Rule 10b5-1(c). That procedural detail is important: it reduces signaling risk associated with insider timing. Nevertheless, the aggregate disposal of 308,719 shares is meaningful relative to typical insider activity and should be monitored alongside subsequent filings for any changes in ownership structure or additional plan-based sales.

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)
08/25/2025

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	08/25/2025		S(1)		46,121	D	$177.63(2)	1,687,136	I	By TJ Capital Investors, LLC
Class A Common Stock	08/25/2025		S(1)		60,401	D	$178.24(3)	1,626,735	I	By TJ Capital Investors, LLC
Class A Common Stock	08/25/2025		S(1)		2,852	D	$179.24(4)	1,623,883	I	By TJ Capital Investors, LLC
Class A Common Stock	08/25/2025		S(1)		2,948	D	$180.35(5)	1,620,935	I	By TJ Capital Investors, LLC
Class A Common Stock	08/25/2025		S(1)		200	D	$181.26	1,620,735	I	By TJ Capital Investors, LLC
Class A Common Stock	08/26/2025		S(1)		10,086	D	$177.62(6)	1,610,649	I	By TJ Capital Investors, LLC
Class A Common Stock	08/26/2025		S(1)		157,585	D	$178.8(7)	1,453,064	I	By TJ Capital Investors, LLC
Class A Common Stock	08/26/2025		S(1)		28,526	D	$179.13(8)	1,424,538	I	By TJ Capital Investors, LLC
Class A Common Stock								2,235,625	I	By Ares Owners Holdings L.P.(9)

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 25, 2025 in multiple transactions at prices ranging from $176.98 to $177.97. 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 and 8.

3. The price reported in Column 4 is a weighted average price. These shares were sold on August 25, 2025 in multiple transactions at prices ranging from $177.98 to $178.96.

4. The price reported in Column 4 is a weighted average price. These shares were sold on August 25, 2025 in multiple transactions at prices ranging from $178.99 to $179.97.

5. The price reported in Column 4 is a weighted average price. These shares were sold on August 25, 2025 in multiple transactions at prices ranging from $179.99 to $180.79.

6. The price reported in Column 4 is a weighted average price. These shares were sold on August 26, 2025 in multiple transactions at prices ranging from $177.02 to $178.01.

7. The price reported in Column 4 is a weighted average price. These shares were sold on August 26, 2025 in multiple transactions at prices ranging from $178.02 to $179.02.

8. The price reported in Column 4 is a weighted average price. These shares were sold on August 26, 2025 in multiple transactions at prices ranging from $179.02 to $179.30.

9. 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	08/26/2025
	** 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 Anton P. Ressler sell on August 25-26, 2025?

The Form 4 reports aggregate sales of 308,719 Class A shares sold across August 25-26, 2025.

Were the ARES insider sales by Anton P. Ressler part of a 10b5-1 plan?

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

What price range were Ressler’s ARES shares sold at?

The weighted-average prices reported span roughly $176.98 to $181.26, with detailed per-tranche ranges provided in footnotes.

How many ARES shares does the reporting person still beneficially own?

After the reported transactions the filing shows an indirect beneficial ownership of 2,235,625 Class A shares via Ares Owners Holdings L.P.

Did the Form 4 report any derivative transactions for ARES by this reporting person?

No. Table II shows no derivative securities acquired, disposed of, or beneficially owned in this filing.